Wall Street closes higher after Trump victory

Dow closes at highest level since August

NEW YORK (AA) – Wall Street closed higher Wednesday after the market began adapting to Donald Trump's presidential election victory.

Stocks of industrial companies surged as the president-elect is known for promising to boost spending on infrastructure.

Construction manufacturer giant Caterpillar's stock price jumped 7.7 percent.

Oil prices increased Wednesday as Trump is also known with his strong support for increasing oil and gas production in the U.S., and plans to rid some of the regulations in those sectors.

American benchmark West Texas Intermediate was trading at $45.48 -- a 0.9 percent increase at the final bell. International benchmark Brent crude was at $46.70 -- a 1.2 percent gain.

The Dow jumped 256 points to end the day at 18,589 -- its highest closing since August.

The S&P 500 added 23 points to close at 2,163 and the Nasdaq gained 57 points to 5,251.

Kaynak: