US Stock Market Surges to Record Highs Following Trump's Election Victory
Following Donald Trump's victory in the US presidential election, all three major US indexes hit record highs on Wednesday, with the Dow Jones Industrial Average reaching an intraday high of 43,570, the S&P 500 climbing 2% to over 5,900, and the Nasdaq rising 2% to a record 18,861. The financial, energy, and industrial sectors were the biggest winners, with notable stocks such as Goldman Sachs, Oracle, Bank of America, and Tesla reaching all-time highs. The surge in the stock market resulted in several billionaires, including Elon Musk and Larry Ellison, seeing significant net worth gains. The rise in the stock market is attributed to anticipation of stronger domestic growth, increased M&A activity, and hopes of lower corporate taxes. Additionally, American Express, Bank of America, and Tesla reached their highest share prices in at least 12 months, and bitcoin rose while the dollar experienced its highest single-day jump since 2016.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
What is altcoin season and why can these 5 coins grow 5x?
Polymarket platform is now unavailable for users in France
Sui Foundation Partners with Asset Manager Franklin Templeton
Cardano Jumps 215% After Major Breakout and Sets Sights on Higher Targets