Wall Street Rallies To Record High As Trump Returns As U.S. President
2 weeks ago
Wall Street's main indexes soared to record highs Wednesday morning, while the small-cap Russell 2000 index jumped to its highest in nearly three years…
as Republican Donald Trump won the 2024 U.S. presidential election in a remarkable comeback four years after he was voted out of the White House.
Investors are anticipating lower taxes, deregulation and a U.S. president who is quick to sound off on everything from the stock market to the dollar, even though tariff hikes could bring challenges in the form of higher deficits and inflation.
Most of the S&P 500's sectors were trading higher.
Financials led the gains with a 5% jump to touch a record high as yields rose and investors expected them to benefit from less regulation.
Energy stocks and cryptocurrencies also performed well...
While shares of Trump Media & Technology Group, in which Trump owns a majority stake, soared nearly 24% before trading was halted.
And Tesla’s stock surged as much as 15% after billionaire CEO Elon Musk backed Trump throughout his electoral campaign.
Stocks that fell included those of renewable energy firms and companies from China like Alibaba on fears of escalation in U.S-China tensions.
as Republican Donald Trump won the 2024 U.S. presidential election in a remarkable comeback four years after he was voted out of the White House.
Investors are anticipating lower taxes, deregulation and a U.S. president who is quick to sound off on everything from the stock market to the dollar, even though tariff hikes could bring challenges in the form of higher deficits and inflation.
Most of the S&P 500's sectors were trading higher.
Financials led the gains with a 5% jump to touch a record high as yields rose and investors expected them to benefit from less regulation.
Energy stocks and cryptocurrencies also performed well...
While shares of Trump Media & Technology Group, in which Trump owns a majority stake, soared nearly 24% before trading was halted.
And Tesla’s stock surged as much as 15% after billionaire CEO Elon Musk backed Trump throughout his electoral campaign.
Stocks that fell included those of renewable energy firms and companies from China like Alibaba on fears of escalation in U.S-China tensions.
