In his speech at West Palm Beach on November 6th, former President Trump claimed victory in the popular vote and vowed to make America great again.
According to
Reuters
, despite many news outlets not calling the election for Mr. Trump, the “Trump trade” surged. US Treasury bond yields soared, bitcoin reached an all-time high, and the US dollar strengthened.
Markets reacted with Dow E-minis up 986 points (2.33%), S&P 500 E-minis up 117.25 points (2.02%), and Nasdaq 100 E-minis up 337.25 points (1.66%). E-minis Russell 2000 futures jumped 5.1%, the highest since early 2022.
Stock markets in the Gulf region rallied following Trump’s declaration. Saudi Arabia’s benchmark index rose 0.9%, Al Rajhi Bank gained 2.1%, and Saudi Arabian Mining Company climbed 3.9%. Saudi Electricity surged 5.9%, while Dubai’s main stock index advanced 0.5%, with toll road operator Salik Company up 1.9%.
Traders at the New York Stock Exchange, USA.
Tesla’s stock, listed in Frankfurt, soared 13% as investors bet on the company due to Elon Musk’s support for Trump during the campaign. After a slight dip, shares of Trump Media and Technology Group rose 10% in extended trading.
Dr. David Allen, Portfolio Manager of Plato Global Alpha Fund, commented, “Markets crave the certainty of the election campaign ending. A Trump win will cause a shift. I think Trump 2.0 is different from Trump 1.0. I expect him to pass significant legislation within the first 100 days of his re-election.”
Bitcoin surged past $75,000, rallying over 10% in 24 hours, according to CNBC. Ryan Rasmussen, Director of Research at Bitwise Asset Management, stated that the US presidential election had a significant impact on the cryptocurrency market.
“Bitcoin and cryptocurrencies, in general, are expected to be volatile in the coming days until there is certainty around the US election outcome,” said Rasmussen.
Coin Metrics suggested that this year’s US presidential election was deemed crucial for the cryptocurrency industry. Trump’s declaration of victory boosted cryptocurrencies after the Republican candidate publicly supported digital assets earlier in the year.
Source: Reuters
“VPBank’s Strategic Director: Stocks Often Bottom Out in November, Investors Gear Up for the ‘Holiday Rally’”
With the “Tet rally” in the Vietnamese market, VPBank Securities experts have noted that, on average, the VN-Index has risen by almost 8% every year from November to April over the last six years.
Why Did Vietnamese Stocks Soar Post US Presidential Election?
The VN-Index soared and closed at a record high right after the US Presidential election results were announced, surprising many investors.
The Stock Market Week of October 28 – November 1, 2024: A Fragile Recovery
The VN-Index experienced a volatile week with alternating sessions of gains and losses. The cautious sentiment among investors is evident as trading volume remains below the 20-day average. Moreover, the continuous net selling by foreign investors will likely impact the growth trajectory of the VN-Index in the coming period.
The Stock Market’s Hidden Gem: Unveiling the Secrets of Derivatives Trading
Despite the significant jitters in the underlying market as T+ goods were dumped and the VHM pillar plummeted nearly 4%, the derivatives market displayed an enigmatic confidence, maintaining a wide spread, especially during the ATC session.
The Golden Rush: What’s Behind the Soaring Gold Prices?
In recent days, gold prices have been soaring to record highs. What insights and predictions do experts have about this trend and its potential future trajectory?
