U.S. stocks soared Wednesday as Donald Trump defeated Vice President Kamala Harris in one of the most contentious elections in U.S. history. The Dow Jones Industrial Average jumped over 1,300 points midday Wednesday, continuing the climb seen in the pre-market session after the president elect took the stage at his headquarters in Florida early morning, thanking his supporters and promising to restore the country. "We're going to pay you back. We are going to do the best job. We're going to turn it around. It's got to be turned around, and it's got to be turned around fast. And we're going to turn it around" said Trump. https://www.foxbusiness.com/markets/trumps-white-house-win-sends-dow-up-1000-points
The S&P 500 and Nasdaq Composite also saw sizable gains of over 2%. All three of the major market averages are on pace for a record close. "This is what lower regulation and lower taxes look like," said Great Hill Capital Chairman Thomas Hayes during an appearance on Varney & Co. Trump invited JD Vance, the presumptive new vice president, to the podium to speak, and he spoke about reviving the U.S. economy, a top election issue. "We're going to lead the greatest economic comeback in American history under Donald Trump's leadership," Vance told the crowd. Americans have been dealt a hand of sky-high inflation in recent years. While it has come down from its 9% peak, prices for everyday items such as food remain elevated. Even before Trump appeared to emerge as the winner, stock futures were steadily climbing, building on a rally Tuesday in which all three of the major market averages rose over 1% as all the major sectors in the S&P 500 locked in gains. "What the outcome of an election does is to provide us some certain amount of falling uncertainty" Ken Fisher, chairman and founder of Fisher Investments, said during an interview on "Cavuto Coast to Coast" ahead of the election outcome. Another layer of uncertainty will be lifted on Thursday when the Federal Reserve makes a decision on interest rates. Market participants are predicting a 25 point basis cut and perhaps the same at the December meeting, according to the CME's FedWatch Tool. , which meaures the probability of rate moves. Markets climbed heading into the election, with the S&P 500 and Nasdaq Composite up over 20% annually, while the Dow is up 12%.
Investors snapped up shares of industrial, financials and energy stocks within the S&P. Trump is pro-energy, touting his "drill baby drill" mantra throughout his campaign.Defensive stocks including utilities and consumer staples slipped, along with real estate. Trump also praised Tesla CEO Elon Musk, calling the world's richest man a new star. Musk hit the campaign trail for Trump, most recently headlining a rally at Madison Square Garden in New York City. Tesla shares gained on Trump's victory. Trump also spoke highly of Dana White, CEO of the UFC, another staunch supporter. Cryptocurrencies were also riding a wave as Bitcoin touched a new all-time high, trading above the $74,000 level. While both Trump and Harris were considered pro-crypto, investors leaned toward Trump being more favorable to the industry.Annually, the largest cryptocurrency by market value is up more than 90% from its 52-week low of $35,027.44 hit on Nov. 6, 2023, according to Dow Jones Market Data. [[END]] :)
The world is healing. We didn't deserve this ending.
>wall street execs and investors happy the candidate who will give only them and their rich buddies tax breaks won>libertardian promises to dismantle and privatize entire segments of the governmental apparatus, allowing for even more overt crony capitalismgee
>>1360562>Americans have been dealt a hand of sky-high inflation in recent years. While it has come down from its 9% peak, prices for everyday items such as food remain elevated.second lowest inflation in the world currently, best post-covid recovery of any developed country. joe broke his old man twig of a back to fix the mess trump made, and now he gets to inherit another objectively strong democrat economy, record employment, strong wage growth, and booming manufacturing/construction like the country hasn't seen in decadescorporate price gouging (which some companies have already been sued for and admitted to in a court of law) was curiously untouched by the right's messaging, every news broadcast and article they shat out blamed inflation for the price even when inflation plummeted but the prices suspiciously didn't follow suit
>>1360575What did he do to fix it? For most Americans its still very much broken.. and no matter how much you say triangle, they still see a square.
>>1360773You see a square because Trump, the Republicans and Musk have told you to see a square. Your average American has little to no connection to reality.
>>1360775>not American>lectures Americans on America Lmao, kick rocks.
>>1360575>second lowest inflation in the world currentlystill record inflation causing the rest of the world to inflate even more since they depend on the currency, retard>best covid-recoveryInherited from Trump>objectively strong economyeconomy always trends up but noticeably slowed because of Biden. It's like when they release a new phone and it's always "this is the best phone we've ever made".>employmentnot percentage wise, just raw jobs. Sam logic as above, this always TRENDS up due to population and demand growth but slowed thanks to the corpse>wagesgrew slower than his inflationary policies so effectively wage shrinkage>booming manufacturing/constructionSource? Highly doubt this since those unions in particular didn't back Biden this time, so easy to guess they've been hit hard. Happy to be disproven>price gougingAnyone who targets this to help economies is genuinely demented. It ruins incentives and thus economies every time price controls are enacted.>inflation plummeted but the prices suspiciously didn't follow suitHoly shit how dumb are you? Inflation never went down. It just climbed slower and is still climbing. The value of the dollar is still decreasing heavily, just not as much as it was 1-2 years ago. Prices won't just come down somehow, they'll just get hiked slower and less often.Nothing I said is even in-depth economic knowledge. Goes to show how talking points mean nothing even to people who have basic literacy via a three month economics class from many years ago.
Trump is the original American Perón. He even did the big old Peronista Trap: treat the economy and foreign policy with complete ineptitude, and when voted out, the next lad will have to do the unpopular thing to fix your mistakes. So people will hate him and vote the Peronista again.Now with the tariffs thing, he's more Peronista than fucking Perón.
>>1360844got played.you should have let Trump have too terms in a row. Now he'll look good twice.
>>1360887Trump's been sunsetting a lot lately. I'm not sure if he'll make it through a second term.
>>1360844Not really, trump isn't a left wing dictator
