Donald Trump's Estimated Wins Shares are getting a new boost from surveys.
Dow futures rose nearly 1,400 points, or 3.2%, taking the blue-chip market to a record high before trading began on Wednesday. S&P 500 futures were up more than 2%, while the tech-heavy Nasdaq Composite also looked set for a strong start.
“US equity futures have rallied as election results tally. In our base case, we expect the S&P 500 to rise to 6,600 by the end of 2025, which is about a 15% price return from current levels, which is in line with our expectations. Solita Marcelli, chief investment officer for the Americas at UBS Global Wealth Management, said in an email: “Low corporate taxes and/or energy and financials under the Trump administration.” Regulation of sectors could provide additional support.”
Cryptocurrencies are also surging as investors believe the volatile sector will benefit from a second Trump administration. Bitcoin prices rose nearly 8% to a record $75,345.00 in early trading, after falling to around $73,500.
The former president, who was once a critic of digital currencies, Pledged during his campaign Against Vice President Kamala Harris for making the US the “crypto capital of the planet” and making Bitcoin a “strategic reserve.”
“Bitcoin is an asset that was always going to rise if Trump returned to the White House,” said Russ Mould, investment director at British online investment platform AJ Bell.
“Trump has already declared his love for the digital currency and crypto traders now have a new story to get even more excited about where the price could go,” he said.
On Tuesday, the Republican Party achieved electoral success, including victory control of the senateIt is also benefiting Trump's personal finances by increasing the share price of Trump Media & Technology Group. Shares of the company, which owns social network Truth Social and in which Trump has a stake valued at more than $5 billion, jumped nearly 38% to $46.80 before the market opened.
Although markets have hit new highs this year, Wall Street analysts have warned that some of Trump's major policy proposals could reignite US inflation, slow economic growth and increase the country's debt. Specifically, Trump has proposed imposing tariffs of up to 20% on foreign goods and up to 60% on Chinese imports.
The Federal Reserve will deliver its latest statement on the state of the economy on Thursday, with Wall Street analysts expecting the central bank to lower its rates. benchmark interest rate By one-quarter percentage point. The Fed reduced borrowing costs in September 0.50 percentage pointsThis is the first cut after 2020.
Contributed to this report.