Image Souce: Krish Capital Pty Ltd
US stocks soar to record highs after Trump’s 2024 election victory! πΊπΈ The S&P 500 +2.5%, Nasdaq +2.9%, and Dow jumps 1,507 points (+3.6%)—its best day since 2022. Investor optimism is high on pro-business policies like tax cuts, deregulation, and tariffs. Financials, energy, and industrials lead the charge, while renewables & Chinese stocks lag.
Market Movers
Major bank stocks surge to new highs: JPMorgan +11.5% and Wells Fargo +13.5%! Nvidia +4% and Tesla +14.7% also lead the rally. Meanwhile, real estate, consumer staples, and utilities lag. Renewable energy and Chinese stocks like Alibaba dip as US-China tensions rise.
Macro Update
The Bank of England cuts rates by 25bps to 4.75%, following August's reduction and September's hold. All eyes now on the Fed, which is expected to follow suit with a 25bps cut today after a 50bps move last month. Traders are looking for clues on future policy, especially with Trump’s re-election looming.
Commodities Update
Brent crude oil drops to $74.5/barrel, extending losses amid a stronger dollar and weak demand. The greenback holds near 4-month highs post-Trump’s election win, making oil pricier for non-dollar buyers. Weak Chinese imports & rising US crude stocks add pressure, while Hurricane Rafael disrupts Gulf production. Meanwhile, gold slumps 3% as traders await the Fed’s expected 25bps rate cut and signals on future policy.
Futures Update
U.S. stock index futures rise ahead of the Fed’s policy decision, continuing the rally sparked by Trump’s 2024 election victory. Dow Futures +0.2%, S&P 500 Futures +0.2%, Nasdaq Futures +0.2%. Investors eye lower corporate taxes & possible GOP sweep, fueling optimism for policy changes. "Trump trades" surge, with the dollar and Treasury yields jumping.

Stocks soared during trading on Wednesday as traders celebrated Donald Trump's victory in the presidential election. The major indices extended the impressive gains seen on Tuesday, reaching new record closing highs. The Nasdaq jumped 544.29 points, or 3.0 percent, finishing at 18,983.47, while the S&P 500 rose by 146.28 points, or 2.53 percent, to close at 5,929.03. From a technical standpoint, the S&P 500 found support at the ascending 50-period simple moving average, suggesting a bullish sentiment as it moved higher. However, during today's trading session, the S&P 500 may experience some consolidation as it approaches an immediate resistance zone. The rising 14-period Relative Strength Index (RSI) indicates a favorable outlook, as it has reclaimed its neutral territory. Key levels to watch are resistance at 6,065 and support at 5,800.






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