The Dow Jones industrial average closed above 19,000 for the first time ever in its 120-year history as a post-election rally continues to push markets into record territory. Discount store chains made large gains, but health care companies tumbled, The Associated Press reported.

"What we're seeing is a shift in the sectors that are participating" in this rally, said Quincy Krosby, market strategist at Prudential Financial. "It hasn't been parabolic in some sectors."

The S&P 500 and the Nasdaq composite also closed at all-time highs, CNBC reported.

Tuesday's record-setting session came a day after the three major indexes, along with the small-caps Russell 2000, closed at all-time highs. Monday's rally was led by oil, which rose nearly 4 percent to lift energy stocks.

The Dow has closed at a record high six times in the two weeks since the presidential election, but trading volume has fallen in recent days. U.S. trading will be closed Thursday for Thanksgiving and markets will close early on Friday.

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