Last week, US stocks closed at record highs, making it the most successful week of the year. Several records, including the Dow and the Nasdaq, were broken during the week’s trading.
Last week, the S&P 500 rose significantly, crossing 6,000 points for the first time. The Dow also performed at a record high, rising 0.59% or 260 points. The Nasdaq climbed to 19,000 points for the first time.
The dollar made slight gains after Trump’s victory as investors took advantage of the changed business landscape. “There is this huge perception of a business-friendly, tax-friendly regime coming into place, especially with [Republicans] winning the Senate,” said Michael Block, chief operating officer at AgentSmyth. Also improving market performance is the Fed’s rate cut of 25 points, delivered last week.
Trump’s reelection gave investors clarity for the first time in a long time. With the election results not being challenged, markets have shown an even faster gain than expected. Analyst Keith Lerne said, “Historically, you get a pre-election dip. Normally, once there is clarity, you get a bump,” Lerner said. “Clarity leads to people being more comfortable.”
Businesses associated with Trump have also greatly benefited since the election, Tesla rose 32.27%. Bitcoin also rose to record highs, reaching 80,000 by Sunday and 82,000 today.
Today’s pre-market movements showed that the market is continuing to perform well. Today’s hot stocks include Tesla, NVIDIA and Trump Media.
By CEO NA Editorial Staff
