The stock market has been surging ever since Donald Trump won the presidential election, and on Thursday all four of the major U.S. stock indexes soared to record highs, marking the first time this rare event has occurred since 1999.

The Dow Jones Industrial Average has seen a 12.6% increase in 2016, and is up more than 1,400 points since Election Day, ending the day up about 65 points. This surge marks the 13th record close for the Dow Jones Industrial Average since the election.The S&P 500, based on the market cap of America's largest companies, rose 0.2%.

The 'Trump Rally' is real

Meanwhile, the Nasdaq composite jumped 0.4% and the Russell 2000, the most common benchmark for mutual funds, skyrocketed 1.5%. This "Trump Rally," as it is being called by investors, is due in part to Donald Trump's promise to cut corporate taxes, reduce government restrictions, and to re-invest in America's infrastructure.

Among the biggest winners on Wall Street were manufacturers of building materials, with companies such as DuPont, Corning and Albemarle posting large gains on Thursday.

David Kelly, chief global strategist at J.P. Morgan, told USA Today that the market is being driven by momentum inspired by the President-elect Trump's business-friendly policies, such as his promise to lower the federal corporate tax rate from 35% to 15% or 20%.

Terry Sandven, chief equity strategist at U.S. Bank, told Fox News that the record-setting day on Wall Street is based upon ongoing election optimism.

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“Election-related clarity will help shape expectations," said Sandven. "President-elect Trump and the GOP-controlled Congress have changed the political and investment landscapes." Sandven believes that these numbers will continue to soar if Trump provides more clarity on his policies.

Big banks also see big gains

Other big gainers on Wall Street Thursday were banks. Goldman Sachs, which is trading at a nine-year high, was up 2.5%, surging 32% since the election.

Bank of America gained 1.7%. The rise in bank stocks is due to the falling prices of U.S. government bonds, sending yields higher.

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