Dow snaps longest losing streak since ’11 as sentiment brightens

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The Dow Jones Industrial Average joined other US stock barometers in the black on Tuesday, snapping its longest losing streak since 2011.

The Dow Jones Industrial Average rose 0.73 per cent to 20,701.8, the S&P 500 advanced by the same margin to 2,358.6 and the Nasdaq Composite tacked on 0.67 per cent to 5,879.4.

The S&P 500 financials sector rallied 1.4 per cent on Tuesday, helping to offset a decline that came last week as doubts rose about whether campaign pledges by Donald Trump to loosen regulations and launch pro-growth initiatives would come to fruition.

Other cyclical industries, including energy and industrials, posted strong gains as well.

Meanwhile, the rally for many havens began to fizzle. Utilities shares missed-out on the broader gains for the equities market as Treasury prices came under pressure. The 10-year Treasury yield jumped 4.3 basis points to 2.418 per cent.

Gold slipped by $3.51 to $1,250 a troy ounce.

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