Markets surge to record highs, dollar jumps following Trump victory
President Donald Trump promised to usher in the "golden age of America" in his victory speech early Wednesday morning. At the open of trading hours later, the Dow gained over 1,320 points (in excess of 3%) while the S&P 500 index increased by 1.9% and the Nasdaq rose by 2.2%. CNN indicated that this is the first time the Dow has jumped over 1,000 points in a single day since November 2022.While some analysts suspect the decisiveness of the win may have put some investors at ease, others figure Trump's policy proposals — especially those pertaining to deregulation and taxes — have investors excited.Michael Block, COO at AgentSmyth, told CNN, "There is this huge perception of [a] business friendly, tax-friendly regime coming into place, especially with them winning the Senate."'Business animal spirits could be rekindled once again.'Republicans have secured a majority in the U.S. Senate and are poised to keep the House."Assuming the House goes Republican, we expect that a Red Sweep outcome will play out in a similar fashion to the 2016 playbook but to a lesser degree given a more mature economic backdrop and higher equity valuations," Jeff Schulze at ClearBridge Investments told Bloomberg. "Business animal spirits could be rekindled once again from Trump's pro-business approach."As it became clear Trump was going to win in a landslide, the price of Bitcoin rocketed from south of $70,000 to over $75,000 overnight, zigzagging around $74,400 Wednesday morning. This jump was energized by Trump's embrace of crypto on the campaign trail. In July, Trump told crypto boosters at a Bitcoin conference in Tennessee that he would make the U.S. the "crypto capital of the planet."Not only did the U.S. dollar rise against the euro, the peso, the Japanese yen, and the Chinese yuan in response to Trump's landslide win — the biggest rise since March 2020 — the New York Times indicated that yields on U.S. government bonds also climbed sharply. Treasury 10-year yields reportedly advanced 18 basis points to 4.45%.While the American market was ostensibly made great again, European stocks took a tumble Wednesday afternoon. CNBC noted that the pan-European Stoxx 600 was down 0.68% by 4 p.m. London time.Like Blaze News? Bypass the censors, sign up for our newsletters, and get stories like this direct to your inbox. Sign up here!
President Donald Trump promised to usher in the "golden age of America" in his victory speech early Wednesday morning. At the open of trading hours later, the Dow gained over 1,320 points (in excess of 3%) while the S&P 500 index increased by 1.9% and the Nasdaq rose by 2.2%.
CNN indicated that this is the first time the Dow has jumped over 1,000 points in a single day since November 2022.
While some analysts suspect the decisiveness of the win may have put some investors at ease, others figure Trump's policy proposals — especially those pertaining to deregulation and taxes — have investors excited.
Michael Block, COO at AgentSmyth, told CNN, "There is this huge perception of [a] business friendly, tax-friendly regime coming into place, especially with them winning the Senate."
'Business animal spirits could be rekindled once again.'
Republicans have secured a majority in the U.S. Senate and are poised to keep the House.
"Assuming the House goes Republican, we expect that a Red Sweep outcome will play out in a similar fashion to the 2016 playbook but to a lesser degree given a more mature economic backdrop and higher equity valuations," Jeff Schulze at ClearBridge Investments told Bloomberg. "Business animal spirits could be rekindled once again from Trump's pro-business approach."
As it became clear Trump was going to win in a landslide, the price of Bitcoin rocketed from south of $70,000 to over $75,000 overnight, zigzagging around $74,400 Wednesday morning. This jump was energized by Trump's embrace of crypto on the campaign trail.
In July, Trump told crypto boosters at a Bitcoin conference in Tennessee that he would make the U.S. the "crypto capital of the planet."
Not only did the U.S. dollar rise against the euro, the peso, the Japanese yen, and the Chinese yuan in response to Trump's landslide win — the biggest rise since March 2020 — the New York Times indicated that yields on U.S. government bonds also climbed sharply. Treasury 10-year yields reportedly advanced 18 basis points to 4.45%.
While the American market was ostensibly made great again, European stocks took a tumble Wednesday afternoon. CNBC noted that the pan-European Stoxx 600 was down 0.68% by 4 p.m. London time.
Like Blaze News? Bypass the censors, sign up for our newsletters, and get stories like this direct to your inbox. Sign up here!
Originally Published at Daily Wire, World Net Daily, or The Blaze
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