Dow jumped 200 points to close at a record, Investors analyzed comments from Fed Chairman Jerome Powell, who said the central bank will not wait until inflation hits 2% before lowering interest rates capacity. The Dow Jones Industrial Average rose on Monday as investors bet that the failed assassination of former President Donald Trump would deliver big gains for the Republican presidential candidate and the Republican Party in votes in November. More friendly fiscal policies ahead are seen as a driving force behind the extension of the bull market that began taking shape last week. Small-cap stocks and banks rose on Monday.

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The Dow Jones index increased 210.82 points, or 0.53%, to 40,211.72. The S&P 500 index rose 0.28% to 5,631.22. Both hit new intraday highs during the session, while the former also hit a record close. Nasdaq Composite rose 0.4% to 18,472.57. “The good news is that former President Trump only injured his ear, he did not die,” Sam Stovall, chief investment strategist at CFRA Research, said on CNBC’s “Worldwide Exchange” program. The Republican National Convention opens Monday in Milwaukee, Wisconsin, with Trump leading President Joe Biden in national polls. Humana and UnitedHealth Group both rose during the trading session. Insurers could benefit from less cost pressure from the Republican administration.