A new survey of finance executives finds a “strong surge in optimism” following the election of Donald Trump as president.

The American Institute of Certified Public Accountants report, which was taken immediately after the election, mirrors the results of a Duke CFO survey released Wednesday and comes as stock markets hit record highs.

“We’re seeing renewed confidence in the U.S. economy, building on the encouraging signals on the outlook for revenue, profit and business expansion we saw in the third quarter,” said Arleen Thomas, Managing Director Americas and Global Offerings for the AICPA, which has a large presence in Durham. “The removal of the uncertainty that the presidential election cycle represented appears to be a driving factor in this significant increase in optimism.”

The bullish attitude of business executives in both surveys is reflected on Wall Street.

Here’s what The Associated Press reported Wednesday after the markets closed:

A broad rally drives Dow, S&P 500 indexes to record highs

The Dow Jones industrial average and Standard & Poor’s 500 indexes on Wednesday soared to their biggest gains since the presidential election and set all-time highs. Investors bought stocks that do well in times of faster economic growth, like technology and industrial companies, but they also snapped up stocks that pay large dividends.

Stocks moved steadily higher throughout the day after a mixed open. Phone and real estate companies made the largest gains, but the rally moved into high gear in the afternoon, as airlines, railroads and trucking companies soared.

So what’s driving the bulls?

AICPA says “the possibility of reduced regulation, lower income taxes and the repeal of the Affordable Care Act.”

Finance executives’ optimism surged 24 points to 62 percent on a scale of 100 from 38 just ahead of the election. The “68” is the highest in nearly two years and far above the 28 percent score in early 2016.

The execs’ attitudes about their own firms’ prospects rose to 61 percent. an increase of 8 points quarter-over-quarter.

However, most don’t expect an improving economy to lead to more hiring or capital spending. They do have higher expectations for profits and revenue.

Interestingly, despite the recent enthusiasm, the overall economic outlook score is still below the post-“great Recession” high of 78 which came in the fourth quarter of 2014.

Read more at:

http://www.aicpa.org/InterestAreas/BusinessIndustryAndGovernment/NewsAndPublications/DownloadableDocuments/4Q_2016_EOS_Slides.pdf