S&P 500 hits record high on speculation of Trump win benefiting corporate profits

From Nasdaq Corporation

July 15, 2024 01:02:32 PM:

Stock indexes are higher today, with new record highs for the S&P 500 and Dow Jones Industrials after an attempted assassination on Donald Trump boosted support for the presidential candidate. Speculation is rising that a Trump win could lead to tax cuts, tariffs, and looser regulations benefiting corporate profits. Bitcoin is up over 9% amidst speculation of a Trump victory being favorable for the cryptocurrency. China’s weak economic data raises concerns about a global growth slowdown. Overseas markets are mixed, with European government bond yields moving lower. US stock movers include Apple, financial stocks, private prison, and firearm-related companies seeing gains. Oil service companies climb on speculation of reduced regulations under a Trump presidency. Cryptocurrency stocks are also rallying. Goldman Sachs reports strong Q2 revenue, while Macy’s and Ulta Beauty face declines after certain announcements. Earnings reports on 7/15 include BlackRock, Goldman Sachs, and more.

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