Stocks rise on speculation of Trump win, boosted by sympathy and support post assassination attempt

From Nasdaq: 2024-07-15 11:43:53

Stock indexes are slightly up today, with the Dow Jones hitting a new record high. Donald Trump’s recent assassination attempt garnered sympathy and support, boosting speculation of him winning the election. Expectations of tax cuts and looser regulations are pushing stocks higher. Bitcoin surged over 9% on speculation of a Trump win benefiting the cryptocurrency.

Weak economic news from China is raising concerns about global growth prospects, as Q2 GDP and retail sales missed expectations. The chance of a rate cut by the Fed in July is at 7%. Overseas markets are mixed, with Europe and Asia reflecting uncertainty. Interest rates are lower, with the 10-year T-note yield up. European bond yields are higher, and swap rates suggest an ECB rate cut in July.

Stocks are moving higher today, with financials and private prison companies leading the gains. Cryptocurrency-related stocks are rallying on Bitcoin’s surge. Apple, JPMorgan, and other financial stocks are up on speculation of a Trump win. Goldman Sachs and Humana are also up on positive news. Some losers include Ulta Beauty, Baxter International, and Caesars Entertainment.



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