Wall Street rallies after French election

By Ovunc Kutlu

NEW YORK

Wall Street rallied Monday after a centrist candidate led the first round of France’s presidential election.

The Dow added 216 points to close the day at 20,763 and the S&P rose 25 points to end the day at 2,374.

The Nasdaq increased 73 points to finish the day at 5,983 -- setting a new record closing level. The index also reached its all-time high with 5,989.92 points during trading hours.

The three major indexes also posted their biggest single-day gains since March 1 -- the day after President Donald Trump made his first speech to a joint session in Congress, and reiterated his economic plans to increase infrastructure spending, lower taxes and promote deregulation.

Centrist candidate Emmanuel Macron leading the French election results after Sunday's first round calmed investors' worries over a potential breakup of the eurozone or the European Union, analysts said.

The 39-year-old former economy minister is ardently pro-Europe and has embraced a tolerant attitude toward immigrants, refugees, and Muslims.