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Cheerful on Wall Street after Trump win

The New York Stock Exchange opened clearly upwards after it became clear that the Republicans' Donald Trump won the presidential election – and at closing, all leading indexes stood at record levels.

» Updated: 06 November 2024, 22:16

» Published: 06 November 2024

Cheerful on Wall Street after Trump win
Photo: Peter Morgan/AP/TT

Nasdaq's composite index was up 3.0 percent at closing, the Dow Jones industrial index rose 3.6 percent, and the broad S&P 500 index noted a gain of 2.5 percent.

Company-wise, clear effects of the election outcome were also seen. Trump's own company, Trump Media & Technology Group, rose 5.9 percent – but was up as much as 26 percent at most.

Tesla, with CEO Elon Musk who has been highly involved in Trump's election campaign, also noted a strong gain, with the stock up 14.8 percent.

Among other winners, the banking sector is believed to benefit from relaxed regulations with Trump as president. For example, investment bank Goldman Sachs rose 13.2 percent, while Wells Fargo and Bank of America rose 13.1 percent and 8.4 percent, respectively.

On the other hand, companies tied to green energy, such as Plug Power, fell 21.8 percent.

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By TTThis article has been altered and translated by Sweden Herald

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