Trump wins 2024 election with Republican Senate control, boosting stock futures
From Nasdaq: 2024-11-06 08:30:00
- Donald Trump wins the 2024 U.S. presidential election, securing 267 electoral college votes. Republicans take control of the U.S. Senate. Dow, S&P, Nasdaq futures rise on the expected Trump victory.
- Dollar hits one-year high, Treasury yields increase. Trump’s policies projected to maintain high U.S. interest rates. Investors eye U.S. dollar ETFs like UUP, while gold ETF GLD may fall.
- Chinese markets under pressure as trade tensions rise with the U.S. MCHI, EEM ETFs expected to decline. Bitcoin rallies to all-time high of $75,000 as Trump victory boosts crypto market.
- Small-cap stocks expected to rise due to strong dollar and domestic economic well-being. IWM ETF sees premarket gain. Banking sector likely to benefit from Trump deregulation, KBE ETF surges in premarket.
- Tesla stock jumps over 15% in premarket trading as Trump nears victory. Tesla’s scale and competitive advantage may benefit from a Trump presidency. TSLT ETF sees premarket gain.
Read more at Nasdaq: ETF Strategies to Consider as Trump Nears Victory