Trump’s win keeps powering U.S. stocks to records | Fox Business
The U.S. stock market is seeing record-breaking gains as President-elect Donald Trump’s pro-business policies ignite investor enthusiasm. On Monday, the Dow Jones Industrial Average surged past the historic 44,000 mark, closing at a new high. The S&P 500 also joined the milestone race, crossing 6,000 for the first time in history. Meanwhile, Bitcoin, often dubbed “digital gold,” has skyrocketed by 147% since its November 2023 low, and on Monday, it hit an all-time high of over $88,000, boosted by anticipated crypto-friendly policies under Trump’s administration.
Dow Hits Record Highs
The Dow Jones has reached its 43rd record high for the year, closing above 44,000—a significant milestone for the market. As investors grow optimistic about Trump’s business-friendly outlook, money is pouring into U.S. stocks. Trump’s economic agenda emphasizes fewer regulations, lower taxes, and smaller government, which have historically encouraged business expansion and innovation. Since his victory, major indices have been climbing, with the Dow and S&P showing consistent upward trends.
These remarkable performances in the stock market signal confidence in Trump’s fiscal approach. Key sectors within the S&P 500, such as consumer discretionary, financials, and industrials, led the charge, while tech, healthcare, and real estate sectors saw slight declines.
Top Performers in the Market:
- Consumer Discretionary: +2.02%
- Financials: +1.42%
- Industrials: +0.77%
Tech Industry on the Rise with Tesla Leading the Way
Tesla, the electric vehicle giant led by CEO Elon Musk, surged by 9% on Monday. The company, which has often faced regulatory challenges, now anticipates smoother progress under a Trump administration known for promoting deregulation. Analysts at Wedbush raised Tesla’s target price from $300 to $400, predicting an accelerated focus on autonomous driving and AI advancements, which could take Tesla’s market cap to an impressive $2 trillion in the next 12 to 18 months.
Tesla’s AI and self-driving technology are expected to gain substantial government support, with the easing of regulatory restrictions. “The autonomous opportunity for Tesla is worth at least $1 trillion alone,” said Wedbush analyst Dan Ives, projecting further growth in these cutting-edge sectors.
Bitcoin’s Soaring Value
Bitcoin, a decentralized digital currency, has been on a tear since Trump’s victory. On Monday, it reached a new high of $88,000, marking a remarkable 147% increase from its low of $35,286 in November 2023. Investors are betting that the new administration will adopt a more favorable stance toward cryptocurrencies, possibly even incorporating Bitcoin into national reserves.
Crypto analyst Natalie Brunell noted, “It’s not just here to stay; Bitcoin is likely to find its way into every portfolio, company balance sheet, and potentially even in nation reserves.” With this perspective, the future of Bitcoin seems more promising than ever.
The rally in Bitcoin has positively impacted the stocks of companies with significant Bitcoin holdings. MicroStrategy, Coinbase, and Robinhood saw double-digit gains in response to Bitcoin’s price surge.
Top Gainers in Bitcoin Stocks:
- MicroStrategy (MSTR): +25.73%
- Coinbase (COIN): +19.76%
- Robinhood (HOOD): +7.40%
Key Appointments Under Trump
Trump’s vision for America’s economic future is bolstered by key appointments who share his pro-business values. Notable figures in his new administration include former NY Rep. Lee Zeldin as EPA Administrator, Tom Homan as Border Czar, and Rep. Elise Stefanik as Ambassador to the United Nations. These appointments reflect Trump’s focus on a streamlined government, bolstering investor confidence in policy changes that benefit business.
Ark Invest’s Cathie Wood believes Trump’s administration could stimulate economic growth even more than Reagan’s policies did in the 1980s. “Deregulation and tax cuts will empower the private sector,” Wood said, explaining how these moves may drive innovation and economic resilience in the tech space.
The Impact on Cryptocurrency Markets
The cryptocurrency community is buzzing with optimism. Trump’s victory suggests that the possibility of government bans on Bitcoin is unlikely, and his administration may even explore ways for the U.S. government to invest in digital assets. With Trump in power, many investors see Bitcoin as an even safer bet.
MicroStrategy, a major Bitcoin investor, saw a 25% jump in its stock, reflecting rising confidence in the cryptocurrency market. Likewise, Coinbase, a leading crypto exchange, rose nearly 20%, while Robinhood, a popular trading platform with crypto support, gained over 7%.
Investors Eye the Future
With Trump at the helm, the market outlook remains optimistic. The tech sector, long restrained by regulatory complexities, now looks forward to fewer hurdles. This landscape provides fertile ground for companies like Tesla, which could become even more innovative without regulatory red tape.
Meanwhile, Bitcoin’s ascent and the strong performance of related stocks indicate a wider acceptance of digital assets as part of mainstream financial portfolios. As Trump’s administration shapes policy, investors and companies alike are preparing for an era where cryptocurrencies could play a significant role in global finance.
Conclusion
Trump’s return to the White House has already set off a market rally, with the Dow reaching record highs and Bitcoin making waves in the cryptocurrency sector. Investors are gearing up for a business-friendly environment that encourages innovation and growth. From Tesla’s ambitious AI goals to Bitcoin’s potential national impact, the future looks brighter for U.S. markets under Trump’s leadership. As his administration takes shape, the economy seems primed for what could be a transformative era.
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