Wall Street closes mixed with banks’ rise, tech losses

By Ovunc Kutlu

NEW YORK (AA) – Wall Street closed mixed Thursday with gains in the financial sector but tech stock losses.

The Dow added 218 points, or 1.17 percent, to end the day at 18,807 – an all-time high.

The S&P 500 added four points to 2,167. The Nasdaq, however, decreased 42 points to 5,208.

President-elect Donald Trump's plan to increase infrastructure spending boosted investment banks' stock prices.

Wells Fargo’s shares jumped nearly 8 percent, Bank of America was up 4 percent, Goldman Sachs rose 4 percent and Citigroup and JP Morgan Chase saw their shares increase 4 percent and 3 percent, respectively.

Tech stocks failed to do well and ended the day with losses.

Apple shares declined just below 3 percent, while Google and Microsoft stock prices fell 3 percent and 2 percent, respectively.

Trump called the rise in tech stocks "a bubble" during his campaign. Analysts also cite his plan to force American tech firms that manufacture overseas to move back to the U.S. for leading investors to sell tech stocks.