According to The Wall Street Journal, Trump’s victory has led to a market rally as investors feel bullish about the prospects for the U.S. economy:
U.S. stocks were on track to end November with their biggest monthly gains this year, as chip stocks rallied on Friday. Major indexes advanced in midday trading, with the S&P 500 on pace for a fresh record.
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The Dow Jones Industrial Average was on track to deliver its biggest monthly percentage gain since late 2023, according to Dow Jones Market Data.
The S&P 500 was also narrowly on course to register its best month of 2024. The small-cap Russell 2000 climbed, lifting its monthly gains above 11%.
Donald Trump’s U.S. election victory this month ignited a market rally as investors bet proposed tax cuts and deregulation would bolster corporate profits.
His pledges to impose tariffs on key trading partners have been largely brushed off by equity traders, though some areas such as auto stocks have taken a hit.
While stock market gains don’t necessarily result in the enrichment of ordinary Americans, they do point to a sense of confidence among investors about the prospects for economic growth under the Trump administration.
Immediately after Trump was declared the winner of the 2024 presidential election, the stock market posted its best day since 2022.
Meanwhile, the dollar benefited from its biggest one-day rise since 2020, while bond yields also surged. […]
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