Stocks kick off November with gains as major indexes attempt to build on records

Stocks kick off November with gains as major indexes attempt to build on records.

Stocks started the first trading day of November off strong on Monday as investors bet on a year-end rally after markets navigated a typically tough seasonal period successfully.

The Dow Jones Industrial Average rose 170 points to a fresh record. The S&P 500 gained 0.3% and also hit an all-time high. The tech-focused Nasdaq Composite added 0.2%.

Shares of Tesla, which became a $1 trillion company last week, continued its gains for the year with shares up more than 2%. Investors have been piling into bets on Tesla options as of late.

Stocks linked to an economic recovery, such as Ford and Occidental Petroleum, were also higher. Ford gained 1% and Occidental Petroleum popped 2.5%.