Wall Street celebrated the electoral victory of Republican Donald Trump this Wednesday with records in its three main indicators, led by the Dow Jones Industrial Average, which recorded its biggest post-election rise in more than a century, according to analysts.
According to data at the close of the session, the Dow Jones, which had its best session in two years, soared 3.57% or 1,508 points, to 43,729, driven by the advance of financial companies Goldman Sachs (13.1%) and JPMorgan (11.5 %), the industrial company Caterpillar (8.6%) and the technological company Intel (7.4%).
The Nasdaq index, in which large technology companies are listed, grew by 2.95%, to 18,983 units, with a strong rise in the automobile company Tesla (14.75%), co-founded by Elon Musk, an ally of Trump; while the S&P 500 progressed 2.53%, up to 5,929 points.
The Russell 2000 index, which brings together small companies, also soared 5.8% and set a historical high, due to the possibility that they could benefit from Trump’s economic policies, especially his proposals for tax cuts and protectionist measures.
Bitcoin, the most used cryptocurrency and for which the politician has shown support in his campaign, began to rise towards unexplored territory last night, during the vote count, and at the ringing of the stock market bell today it surpassed $76,000, a record.
Read: Tesla shares rise almost 15% after Trump’s victory
Trump Media, the president-elect’s company that encompasses his Truth Social network, had soared in electronic operations in the early morning by up to 40%, but closed the session with a minor increase of 5.9%.
The sectors reflected the market prospects regarding a new Trump Administration: the largest gains were for financial (6.16%), industrial (3.93%) and non-essential goods (3.62%) companies.
The most affected sectors were real estate (-2.64%), essential goods (-1.57%) and public services (-0.98%).
According to media projections, the Republican candidate has prevailed over his Democratic rival Kamala Harris in the race to become the 47th president of the United States; In addition, the Republicans will control the Senate.
The future of the House of Representatives is still up in the air, whose count gives an advantage to the conservatives and which, if it also falls on the Republican side, would be a boost in economic matters for Trump, with the possibility that his Administration will have control total in terms of spending and fiscal policy.
These forecasts today raised the benchmark 10-year Treasury bond yield to 4.43%
In addition, the market is awaiting the Federal Reserve’s monetary policy meeting that will conclude tomorrow, expectedly with an interest rate cut of a quarter point and a press conference by the entity’s president, Jerome Powell.
In other markets, Texas oil fell to $71.69 per barrel, and at the close of trading, gold fell to $2.669 per ounce and the euro was trading at $1.0731, less than yesterday.
With information from EFE
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