From Morningstar: 2024-11-06 04:19:41

US stocks surged after Donald Trump won the 2024 presidential election. The S&P 500, Nasdaq, and Dow Jones rose, with the Russell 2000 up 5%. The US dollar hit a high against global currencies, while the euro fell. Markets favor Republican control for policy clarity. Trump’s win boosted Bitcoin and other Trump trade assets. Bitcoin hit $75,000, while Trump Media & Technology Group and Tesla soared. The 10-year Treasury yield surged on expectations of tax cuts and tariffs. European stocks had mixed reactions, with Novo Nordisk rising but wind and auto stocks falling. Luxury car manufacturers like BMW and Porsche slid on tariff fears. Thematic ETFs reflected policy changes, with cybersecurity and cloud computing ETFs surging, while Chinese tech and renewable energy ETFs fell. UK stocks initially gained but lost ground. 1. The stock market reached new highs today, with the S&P 500 closing at a record 4,500 points. This surge was driven by strong earnings reports from tech giants like Apple and Amazon, which saw their shares rise by 3% and 5% respectively.

2. In other news, the latest jobs report showed that the unemployment rate has fallen to 5.2%, the lowest level since the start of the pandemic. The economy added 943,000 jobs in July, exceeding expectations and pointing to a strong recovery.

3. Meanwhile, concerns over the Delta variant continue to grow, with cases rising in several states. The CDC has recommended that vaccinated individuals wear masks indoors in areas of high transmission. Experts stress the importance of getting vaccinated to protect against severe illness.

4. On the international front, tensions between the US and China have escalated, with the US accusing China of cyberattacks on US entities. The Biden administration has vowed to take action against these cyber threats, raising concerns about the implications for US-China relations.

5. Lastly, the Tokyo Olympics have come to a close, with the US finishing at the top of the medal table. Team USA won a total of 113 medals, including 39 golds. Athletes like Simone Biles and Caleb Dressel shone on the world stage, inspiring audiences with their performances.



Read more at Morningstar: US Stock Markets Rally on Trump Election Victory