Stocks surge post-election with bank stocks and Bitcoin hitting record highs

From Nasdaq

November 6, 2024 12:51 PM:

The S&P 500, Dow Jones, and Nasdaq 100 are at all-time highs post-Republican wins in the election. Bank stocks are up on expectations of reduced regulations. Dollar and 10-year T-note yield surge on Trump’s policies. Bitcoin hits record high due to relaxed regulation hopes. Mortgage applications decline for the sixth week.

Markets anticipate a rate cut at the FOMC meeting. Corporate earnings show 78% surpassing estimates. Overseas markets mixed. European bond yields vary. Eurozone PMI revised upward. German factory orders rise. ECB warns on Trump’s tariffs impact. Swaps predict ECB rate cut.

Bank stocks soar post-election, with Discover Financial and Synchrony Financial up over 16%. Chip stocks climb. Tesla leads Nasdaq gainers. Health insurers rally on Medicare rate hike expectations. Qualys Inc reports strong earnings. Globus Medical and Charles River Labs see revenue beats.

Home builders slump on higher T-note yield. Health insurers focusing on Medicaid drop. Exact Sciences and Coupang report revenue misses. Five Below and Cboe Global Markets see downgrades. Earnings reports due from various companies. Financial disclosure disclaimer included.

Read more at Nasdaq: Stocks Sharply Higher as Trump Wins Presidential Election