As Trump defeats Harris, Dow jumps to record, Russell 2000 soars 5%.

Stocks have surged sharply on Wednesday, with major benchmarks hitting record highs as Donald Trump wins the 2024 presidential election. The Dow Jones Industrial Average surged 1,434 points to a record high, or around 3.4%. The last time the blue-chip Dow jumped more than 1,000 points in a single day was in November 2022. The S&P 500 also hit an all-time high, popping 2.3%. The Nasdaq Composite climbed 2.6% to a record of its own.

Trump will officially defeat his Democratic rival, Kamala Harris, after winning 276 Electoral College votes, including key swing states of Pennsylvania, North Carolina, and Georgia. The Dow Jones is up 3.6% for the week, with banking stocks charging to the top. Investors are surging on expectations of stock-friendly moves from future President Donald Trump, specifically hopes for further deregulation in the banking sector.

The US presidential election still isn’t over, and some key battlegrounds will take some time before a final call is made. Markets are confident that the outcome has been decided, with Republican candidate and former President Donald Trump set to win 276 electoral votes. With the Republicans also set to win back both the US Senate and Congress, investors are anticipating a pro-growth environment with more deregulation as well as additional or extended business tax cuts.

About two-thirds of the Dow Jones board is tilted into the green on Wednesday. Companies burdened with physical inventories and logistics like Home Depot (HD) and Nike (NKE) were left out of the post-election spluge, with Home Depot falling nearly 4% to $385 per share and Nike backsliding 3.5% to $75 per share. On the top end, Goldman Sachs (GS) and JPMorgan Chase (JPM) both hit the upper atmosphere, climbing over 12% and 10%, respectively.

A firm bullish tilt to the Dow Jones daily candlesticks leaves short sellers with lots of potential but few opportunities. The DJIA has stretched firmly into fresh record territory north of 43,600, but a lack of meaningful technical signs for a turnaround leaves timing a short entry a hazardous process.

Investments seen as beneficiaries under a Trump presidency erupted as the former president appeared set to claim victory. Tesla, whose CEO Elon Musk is a prominent backer of Trump, saw shares surge 13%. Bank shares got a boost with JPMorgan Chase climbing 10% and Wells Fargo jumping 13%. The small cap benchmark Russell 2000 surged 5.4%, with small companies believed to enjoy outsized benefits from Trump’s tax cuts and protectionist policies.

Stocks have surged sharply on Wednesday, with major benchmarks hitting record highs as Donald Trump wins the 2024 presidential election. The Dow Jones Industrial Average surged 1,434 points to a record high, or around 3.4%. The last time the blue-chip Dow jumped more than 1,000 points in a single day was in November 2022. The S&P 500 also hit an all-time high, popping 2.3%. The Nasdaq Composite climbed 2.6% to a record of its own.

Trump will officially defeat his Democratic rival, Kamala Harris, after winning 276 Electoral College votes, including key swing states of Pennsylvania, North Carolina, and Georgia. The Dow Jones is up 3.6% for the week, with banking stocks charging to the top. Investors are surging on expectations of stock-friendly moves from future President Donald Trump, specifically hopes for further deregulation in the banking sector.

The US presidential election still isn’t over, and some key battlegrounds will take some time before a final call is made. Markets are confident that the outcome has been decided, with Republican candidate and former President Donald Trump set to win 276 electoral votes. With the Republicans also set to win back both the US Senate and Congress, investors are anticipating a pro-growth environment with more deregulation as well as additional or extended business tax cuts.

About two-thirds of the Dow Jones board is tilted into the green on Wednesday. Companies burdened with physical inventories and logistics like Home Depot (HD) and Nike (NKE) were left out of the post-election spluge, with Home Depot falling nearly 4% to $385 per share and Nike backsliding 3.5% to $75 per share. On the top end, Goldman Sachs (GS) and JPMorgan Chase (JPM) both hit the upper atmosphere, climbing over 12% and 10%, respectively.

A firm bullish tilt to the Dow Jones daily candlesticks leaves short sellers with lots of potential but few opportunities. The DJIA has stretched firmly into fresh record territory north of 43,600, but a lack of meaningful technical signs for a turnaround leaves timing a short entry a hazardous process.

Investments seen as beneficiaries under a Trump presidency erupted as the former president appeared set to claim victory. Tesla, whose CEO Elon Musk is a prominent backer of Trump, saw shares surge 13%. Bank shares got a boost with JPMorgan Chase climbing 10% and Wells Fargo jumping 13%. The small cap benchmark Russell 2000 surged 5.4%, with small companies believed to enjoy outsized benefits from Trump’s tax cuts and protectionist policies.