Pot Stocks Push Stock Markets Higher; GM Earnings Hit the Gas
It's been an extraordinary week for the stock market, and Wall Street continued to celebrate on Thursday morning. Even though there's still no clear winner in the presidential election, investors nevertheless seem to feel that they can handle whatever the future might bring on the political front for the next four years. As of just before 11:30 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up another 577 points to 28,424, and the S&P 500 (SNPINDEX: ^GSPC) gained 74 points to 3,517. The Nasdaq Composite (NASDAQINDEX: ^IXIC) also participated in the gains with a rise of 275 points to 11,866.
Marijuana stocks played a role in lightening the mood on Wall Street, with major players benefiting from successful efforts to legalize cannabis in several U.S. states. On the industrial front, General Motors (NYSE: GM) also saw gains following the release of its latest earnings report.
The cannabis industry saw big gains as investors digested the evolving progress in counts for Tuesday's elections. Aurora Cannabis (NYSE: ACB) and Tilray (NASDAQ: TLRY) led the way higher with explosive gains of 23% each. Canopy Growth (NYSE: CGC) settled for a more modest 9% gain.
Source Fool.com
