S&P 500 and Dow Soar as Trump Wins; Tesla Shares Surge

Aakhir Tak – In Shorts

1. U.S. stock market surged as Donald Trump won the 2024 election.
2. Dow Jones opened up 628.5 points higher at 42,850.4.
3. Tesla shares jumped 13%, bolstered by Musk’s support for Trump.
4. Crypto and domestic stocks saw significant gains.
5. Renewable energy stocks dropped amid expected policy changes.

Aakhir Tak – In Depth

The U.S. stock market experienced a surge on Wednesday after Donald Trump won the 2024 presidential election, marking his return to the White House after four years. The S&P 500 and Dow Jones saw significant gains, with the Dow opening 628.5 points higher at 42,850.4, a rise of 1.49%. The S&P 500 rose 82.1 points or 1.42%, while the Nasdaq Composite climbed 333.6 points or 1.81% to start at 18,772.76.

Tesla’s shares notably surged over 13%, reaching $284.70, fueled by investor optimism linked to CEO Elon Musk’s endorsement of Trump’s pro-business policies. Musk’s potential involvement in a government efficiency commission, as suggested by Trump, increased confidence in Tesla’s future under a supportive regulatory environment.

Trump Media & Technology Group Corp also saw a boost, climbing over 13% to .41, as investors anticipated pro-domestic economic policies. Small-cap stocks rallied, driven by expectations of tax relief and deregulation, while financial stocks such as JPMorgan, Bank of America, and Wells Fargo saw a 5-6% increase.

Cryptocurrency stocks benefited from Trump’s positive stance, with Coinbase, MicroStrategy, and Riot Platforms gaining 11-14%. Bitcoin hit new highs amid renewed confidence in crypto regulation.

In contrast, renewable energy companies like NextEra Energy and First Solar faced declines of 7.5% and 11%, respectively, as Trump’s policy changes were expected to roll back environmental regulations set by the previous administration.

Market analysts observed a strong response, reflecting optimism in Trump’s potential economic measures. Hendrik Du Toit, CEO of Ninety One, noted, “A Trump presidency provides the clarity markets desire, with policies likely to drive growth through deregulation and tax relief.”

Aakhir Tak Editor-in-Chief

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