As America celebrates Donald Trump’s spectacular victory, many people will already be feeling the benefits.
The stock market rose to a record high following Trump’s victory on Tuesday evening, while posting the best day since 2022.
The dollar also benefited from its biggest one-day rise since 2020, while bond yields have surged.
CNBC reports:
The Dow Jones Industrial Average surged 1,508 points to a record high, or around 3.6%. The last time the blue-chip Dow jumped more than 1,000 points in a single day was in November 2022.
The S&P 500 also hit an all-time high, popping 2.5%. The Nasdaq composit climbed nearly 3% to a record of its own.
Investments seen as beneficiaries under a Trump presidency erupted as the former president appeared set to claim victory. Tesla, whose CEO Elon Musk is a prominent backer of Trump, saw shares surge more than 14%. Bank shares got a boost with JPMorgan Chase climbing 11.5% and Wells Fargo jumping 13%.
The small cap benchmark Russell 2000 surged 5.8%. Small companies, which are more domestic-oriented and cyclical, are believed to enjoy outsized benefits from Trump’s tax cuts and protectionist policies.
Since Donald Trump became President-elect:
– Stock market and Bitcoin hit all-time highs
– Bond yields surge
– Dollar sees its biggest one-day rise since 2020Those Nobel Prize-winning economists who said Trump would be a “disaster” for the Economy are VERY quiet right now…
— Cillian (@CilComLFC) November 6, 2024
Such a surge underlines the confidence Americans feel about Trump’s ability to manage the U.S. economy, which enjoyed record highs under his last presidency.
Yet while the stock market has performed well since the Biden regime seized office in 2021, everything else has been going in the wrong direction.
Inflation has surged, countless small and large businesses have gone bankrupt and people generally feel much poorer than they did four years ago.
BREAKING The U.S. stock market has hit an all-time high as investors flood the market on Trumps Victory. pic.twitter.com/wLzsfqtuql
— The Patriot Oasis
(@ThePatriotOasis) November 6, 2024
While there were inevitably a range of factors that led to Trump’s eventual victory, there is a growing consensus among political analysts that the economy was most important.
The best example of this is in the U.S. Misery Index, an economic indicator that assesses the economic distress felt by average Americans.
Bidenomics: US Economic Misery Index Rose Significantly During Biden Years
Over the past four years, America has seen its Misery Index rise significantly. Back in 2019, when Donald Trump was in power, the U.S. Misery Index was at its lowest point in over 60 years, dating back to the presidency of Dwight D. Eisenhower.
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