VAt 3:45 p.m. (Belgian time), the Dow Jones soared by 3.08%, the Nasdaq index by 2.12% and the broader S&P 500 index by 2.00%. From the opening, Dow Jones and S&P 500 set new session records.
Considered one of the first beneficiaries of this new environment, the technology sector was celebrating. The major semiconductor players such as Nvidia (+3.11%), Broadcom (+2.88%) or Texas Instruments (+3.25%) were clearly in the green, as were Alphabet and Microsoft.
“From a market point of view, it’s quite easy. Everything is clear,” commented Karl Haeling of LBBW. “Bonds and commodities are falling, while stocks and the dollar are taking off because of the election result. »
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Tesla stock soars
But their progress remained modest compared to that of Tesla (+13.20%), whose boss, Elon Musk, campaigned for Donald Trump and donated millions of dollars to promote the Republican candidate.
Donald Trump has indicated that he intends to entrust Elon Musk with a major role within his future government, dedicated to reducing public spending.
Another potential beneficiary of less regulation is financial companies, such as JPMorgan Chase (+8.78%) or Goldman Sachs (+10.88%). But the momentum went well beyond, supporting in particular the industry, like 3M (+3.52%), Dow (+1.40%) or Honeywell (+2.55%).
Conversely, the bond market was battered. The yield on 10-year US government bonds rose to 4.48%, a high in more than four months.
Unsurprisingly, Donald Trump’s media group, Trump Media and Technology Group, catapulted (+17.32%).
Find the results of the American presidential election, state by state.
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