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Stock market today: Dow, Nasdaq, S&P 500 all soar to records after Trump triumphs in election
Yahoo! Finance ^ | November 6, 2024 | Alexandra Canal , Josh Schafer and Ines Ferré Updated

Posted on 11/06/2024 5:24:53 PM PST by ProtectOurFreedom

US stocks surged to record highs on Wednesday as investors digested Donald Trump's victory in the US presidential election over Kamala Harris.

The Dow Jones Industrial Average jumped 3.5%, or about 1,500 points to close at a record and post its best day since 2022. The benchmark S&P 500 moved up roughly 2.5% to surpass the 5,900 level, while the tech-heavy Nasdaq Composite rose about 2.9%, also clinching a new record.

Outside of the presidential election, Republicans have also flipped the Senate. Control of the House of Representatives remains unclear (and likely will for days or weeks).

Trump's policies had been viewed by some experts as more positive for the financials sector, spurring a massive rally in regional banks before the open on Wednesday. The S&P Regional Banking ETF was up more than 11%.

Small-cap Russell 2000, which includes some regional banks, soared more than 5%.

Tesla stock jumped 14%. The electric vehicle maker's CEO, Elon Musk, publicly supported and donated heavily to the Trump campaign.

The Federal Reserve Open Market Committee began its two-day rate policy meeting on Wednesday. Investors are widely expecting Fed officials to announce a rate cut on Thursday afternoon. The CME FedWatch Tool showed a 99% likelihood that policy makers will opt for a reduction of 25 basis points.


(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: dow; investment; markets; stocks; trump; wow
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Staggering market performance today. A 1,500 point increase in the Dow. Wow.

We are personally very happy we are still heavy in US equities in retirement. And the Harris goal of taxing unrealized capital gains is gone as is the hike in capital gains tax rates, so we don't have to think about selling our California house just yet. We were doing a lot of contingency planning in case she won. It's a HUGE relief to know she is nowhere near the White House.

1 posted on 11/06/2024 5:24:53 PM PST by ProtectOurFreedom
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To: ProtectOurFreedom

Yes! I think I made more paper profits today than any single day before since 1962.


2 posted on 11/06/2024 5:29:41 PM PST by Bobbyvotes (I already voted by mail for Trump/Vance in 2024. Hope they win.)
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To: ProtectOurFreedom
love Trump, voted for him a third time, and grateful he was re-elected!

But this stock market is getting a little wonky - S&P 500 valued at 205% of GDP!

We only saw something like that back in 1999/2000...I'm just not sure this AI euphoria can last forever (and it is a very large reason why the market has rallied this year).
3 posted on 11/06/2024 5:46:00 PM PST by millenial4freedom (Government was supposed to preserve freedom, not serve as a jobs program for delinquents and misfits)
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To: ProtectOurFreedom

I wonder what it will do tomorrow ?

I am betting on down 1/2 what it went up.


4 posted on 11/06/2024 5:47:52 PM PST by algore
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To: ProtectOurFreedom
It's a HUGE relief to know she is nowhere near the White House.

Yes, huge relief for all of us. I was getting ready to pull the trigger of getting out of many stock funds. Got huge increases today, on paper. With a Harris win, her idea of taxing those paper unrealized gains would have collapsed the market and hurt my retirement funds. I got a huge gain just on Tesla holdings, nice!

5 posted on 11/06/2024 5:48:27 PM PST by roadcat ( )
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To: algore

Classic short squeeze.


6 posted on 11/06/2024 5:49:01 PM PST by AndyJackson
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To: ProtectOurFreedom

PMs down bigly - but I was prepared for that.

Balance in All Things, Grasshopper. ;)


7 posted on 11/06/2024 5:51:11 PM PST by Diana in Wisconsin (I don't have, 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set.)
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To: millenial4freedom
But this stock market is getting a little wonky - S&P 500 valued at 205% of GDP!

I agree. Market may decline heavily in next few months (around Inauguration Day). AI stocks have been great for us this year, can it last into next year? Can they survive coming recession? Be careful!

8 posted on 11/06/2024 5:52:02 PM PST by roadcat ( )
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To: ProtectOurFreedom

Winning!

Is anyone tired of winning yet?


9 posted on 11/06/2024 5:59:40 PM PST by Red in Blue PA (You can vote your way into socialism, but you have to shoot your way out.)
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To: millenial4freedom

Yes, there have been “two markets” most of the year. But this rally was across the board. People are bullish on low energy prices really stimulating the economy.


10 posted on 11/06/2024 6:06:52 PM PST by ProtectOurFreedom (“President Trump sells out Madison Square Garden -- Kamala sells out America”)
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To: roadcat

“would have collapsed the market”

Just as important, it would have collapsed the housing market values. That would be good for buyers, but for people with large house equity gains, it would have been a total disaster. Especially for retirees still in their homes of 20, 30 or 40 years. (we’ve been in ours 41 years). It would have forced retirees to sell their homes to pay the taxes (just like farmers have had to endure foreever).


11 posted on 11/06/2024 6:09:04 PM PST by ProtectOurFreedom (“President Trump sells out Madison Square Garden -- Kamala sells out America”)
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To: roadcat

Any recession will be blamed on Trump, beginnning now


12 posted on 11/06/2024 6:10:31 PM PST by citizen (Political incrementalism is like compound interest for liberals - every little bit adds up.)
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To: Red in Blue PA

winning?

wait till the real numbers hit:

fake employment numbers-

TRILLIONS in Debt-

hope there is a way out


13 posted on 11/06/2024 6:12:07 PM PST by mj1234
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To: roadcat

Yes, a big relief. I was worried last week and thought about getting out of a couple of my stocks. Thank the Lord I didn’t! I have never had anything like it, way more than double what I’ve ever seen in that account in one day. Thank you President Trump.


14 posted on 11/06/2024 6:14:57 PM PST by ladyjane
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To: Bobbyvotes

nice


15 posted on 11/06/2024 6:24:27 PM PST by dp0622 (Tried a coup, a fake tax story, tramp slander, Russia nonsense, impeachment and a virus. They lost.)
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To: ProtectOurFreedom

The are bullish on Trump.


16 posted on 11/06/2024 6:26:09 PM PST by central_va (I won't be reconstructed and I do not give a damn...)
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To: central_va

“The are bullish on Trump.”

Of course. But they are bullish on what Trump is going to do to energize the economy. The cornerstone of that will be to abandon the ultra-high price “green” scams and get back to plentiful, affordable energy. That will really goose the economy.


17 posted on 11/06/2024 6:30:44 PM PST by ProtectOurFreedom (“President Trump sells out Madison Square Garden -- Kamala sells out America”)
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To: ProtectOurFreedom

Can’t seem to give the man his just due. Why?


18 posted on 11/06/2024 6:34:17 PM PST by central_va (I won't be reconstructed and I do not give a damn...)
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To: All

New golden age. America is open for business again, starting Jan 20th.


19 posted on 11/06/2024 6:43:47 PM PST by CaliGangsta
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To: central_va

Why can’t you figure it out?

It’s the Trump energy POLICIES, his bullishness on the American economy, his known ability to slash regulations, and his pledge to get the border under control which will save $500 BILLION every year that drove this market move today. It’s all because of Trump.


20 posted on 11/06/2024 6:53:14 PM PST by ProtectOurFreedom (“President Trump sells out Madison Square Garden -- Kamala sells out America”)
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