US Stock Futures Surge Following Trump’s Election Victory, Bitcoin Hits New High
U.S. stock futures rose on Thursday following a strong post-election rally, spurred by Donald Trump’s victory in the elections. Major indices reflected this optimism, with key ETFs recording gains. The markets are attentive to upcoming economic data and Fed announcements, while Bitcoin achieved a new all-time high. Notable stock movements include Lyft’s significant increase amid revised sales expectations.
On Thursday, U.S. stock futures exhibited an upward trend, fueled by a robust post-election rally following the victory of former President Donald Trump in the elections against Joe Biden and Kamala Harris. All three major stock indices indicated positive trading forecasts. Notably, Trump Media & Technology Group Corp. saw a nearly 6% spike on Wednesday, drawing continued investor attention. In premarket trading, the SPDR S&P 500 ETF Trust increased by 0.22% to $592.42, while the Invesco QQQ ETF rose by 0.26% to $506.87, reflecting optimism among traders. The previous day’s session was marked by significant gains, with the Dow Jones index surging over 1,500 points, culminating in an overall rise of 3.6%. As oil prices softened amidst expectations of a stronger U.S. dollar, Treasury yields continued their ascent in light of Trump’s electoral win. Investors are closely monitoring the Federal Open Market Committee (FOMC) alongside remarks from Federal Reserve Chair Jerome Powell, anticipating guidance on forthcoming interest rate decisions. On Wednesday, most S&P 500 sectors concluded positively, particularly consumer discretionary, industrials, and financials. On the cryptocurrency front, Bitcoin reached a new all-time high of $76,460.15, reflecting a 1.48% increase over the preceding 24 hours. Mark Mobius, chairman of Mobius Emerging Opportunities Fund, posited that Trump’s victory would bolster not only the U.S. economy but also emerging markets, predicting increased deregulation and more liberal trade conditions. Ryan Detrick, chief market strategist at Carson Group, observed that U.S. equities have achieved new all-time peaks and may continue this upward trend, especially if the Federal Reserve opts for rate cuts, which historically have correlated with stock market gains. Today, investors will also focus on initial jobless claims, productivity figures, and wholesale inventory data, alongside anticipated earnings results from major corporations. Notable stocks in the spotlight include Lyft Inc., which experienced a notable increase of over 22% after raising its sales outlook, and Qualcomm Inc., which exceeded market expectations and announced an extension of its share buyback program. Global markets reflected this positive momentum as most Asian indices registered gains, while European stocks exhibited early strength. Conversely, the Nikkei 225 index in Japan closed slightly lower, emphasizing varied responses across regions. In summary, Thursday’s trading session highlights a buoyant U.S. market buoyed by political events, anticipated financial policy shifts, and positive corporate earnings reports, setting a hopeful tone for future market movements.
The article discusses the surge of U.S. stock futures on Thursday, following a decisive electoral victory by former President Donald Trump. It highlights various market dynamics, including movements in major indices, sector performances, and investor sentiment regarding potential Federal Reserve interest rate cuts. It also touches on the implications of these developments for both the U.S. economy and global markets.
Thursday’s trading landscape is characterized by optimism across U.S. stock indices, driven by Trump’s electoral victory, a potentially favorable regulatory environment, and enhanced investor confidence. As market participants await key economic indicators and the Federal Reserve’s policy direction, current trends suggest that equities may sustain their upward trajectory into the foreseeable future. Firms like Lyft and Qualcomm exemplify the positive corporate responses amidst this broader market advancement.
Original Source: www.benzinga.com
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