Finance News

Trump’s win keeps powering U.S. stocks to records


Investors continued to plow money into U.S. stocks, setting new records following President-elect Donald Trump’s historic White House win.  

The Dow Jones Industrial Average scored its 43rd record of the year, closing above 44,000 for the first time ever. 

Dow Jones Industrial Average

The S&P 500 closed above 6,000 also for the first time in its 51st record close of the year, while the tech-heavy Nasdaq notched a 32nd record close.  

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 44293.13 +304.14 +0.69%
SP00 NO DATA AVAILABLE
I:COMP NASDAQ COMPOSITE INDEX 19298.763253 +11.99 +0.06%

Within the S&P consumer discretionary, financials and industrials paced the gains, while real estate, healthcare and tech saw fractional losses.  

Ticker Security Last Change Change %
XLY CONSUMER DISCRETIONARY SELECT SECTOR SPDR ETF 219.46 +4.34 +2.02%
XLF FINANCIAL SELECT SECTOR SPDR ETF 49.89 +0.70 +1.42%
XLI INDUSTRIAL SELECT SECTOR SPDR ETF 143.19 +1.10 +0.77%
XLRE THE REAL ESTATE SELECT SECTOR SPDR® FUND – USD DIS 43.53 -0.38 -0.87%
XLV HEALTH CARE SELECT SECTOR SPDR ETF 149.30 -0.88 -0.59%
XLK TECHNOLOGY SELECT SECTOR SPDR ETF 235.85 -1.31 -0.55%

Trump, who won the popular and electoral vote, ran on pro-business, less regulation, smaller government and lower taxes, among other initiatives.

He has started to assemble his team as of Monday evening. Former New York Rep. Lee Zeldin has been picked to join President-elect Donald Trump’s administration as the Environmental Protection Agency (EPA) administrator. Tom Homan is his new border czar, and NY Rep. Elise Stefanik was appointed U.S. Ambassador to the United Nations. 

NATIONAL DEBT TRACKER: FOXBUSINESS.COM

Investor Cathie Wood, of Ark Invest, said Trump’s incoming administration may have more economic benefits than Ronald Reagan did after he cut taxes and whittled down the deficit in the 80s.

“Deregulation (defanging the SEC, FTC, and others), government spending cuts (making room for the private sector), tax cuts, and a focus on technologically enabled innovation are likely to turbocharge the US economy more powerfully than during the Reagan Revolution.” she explained in a video message posted on X.  

Tesla, run by close Trump advisor Elon Musk, rose another 9%, with its market cap crossing $1 trillion. 

“We are raising our price target on Tesla to $400 from $300 as we believe the Trump White House win will be a gamechanger for the autonomous and AI story for Tesla and Musk over the coming years” said Wedbush analyst Dan Ives in a note to clients. The company’s market cap could hit $2 trillion over the next 12 to 18 months, he added.  

TESLA HEADED FOR $2 TRILLION VALUATION

The company’s AI and…



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