TSLA
Tesla
-- 417.410 NVDA
NVIDIA
-- 137.490 MSTR
MicroStrategy
-- 302.960 BA
Boeing
-- 176.550 RGTI
Rigetti Computing
-- 17.0000 
Market Trumps Past Records Wednesday Afternoon After Election | Live Stock
Afternoon traders, happy Wednesday, October 6th. The market roared to fresh all-time heights after President Donald Trump won the first nonconsecutive term nomination since Grover Cleaveland- whoever that is. Every major index, past all-time highs, including the small-cap Russell 2000, flew nearly 5% higher. Trump will become the 47th president of the United States shortly after the new year.
My name is Kevin Travers; here is the news about animal spirits moving markets today.
$Goldman Sachs (GS.US)$ and $JPMorgan (JPM.US)$, financial investment bank giants flew 12% and 10% higher, leading the Dow to a record Wednesday. Banking stocks act as a bellwether for the performance of equities in general, and MT Newswires reported the largest banks are pricing in anticipated lower corporate taxes and deregulation. $Morgan Stanley (MS.US)$ and $AMEX (AMEX.US)$ climbed.
$Tesla (TSLA.US)$, led by Trump's staunch supporter Elon Musk, led gains on the Nasdaq, advancing more than 14% to trade at its highest level since July.
$Super Micro Computer (SMCI.US)$ stock fell 21% after showing earnings that came in below their guidance, and said that a special committee studied governance errors mentioned in the resignation of auditor Ernst and Young. The committee found no evidence of misconduct but recommended internal governance functions.
If any industries were hit hard, it was solar companies. $Sunnova Energy International (NOVA.US)$ fell a dramatic 46%, paving the way for other green energy stocks to fall. Vice President Harris was seen as far more pro-green energy.
Crypto companies were flying on Wednesday, with the assumption that Trump will be staunchly pro-crypto, especially after appearing at the Bitcoin conference as a speaker.
$Bitcoin (BTC.CC)$ finally broke through its record last set in March, climbing 7% to $75k, before settling to $74k. But based on the crypto's volatility around elections, it might have room to grow. According to Marketwatch reporting featuring analysts at CryptoQuant.
Bitcoin gained 22% and 37% in 2012 and 2016. In 2020, Bitcoin climbed 98% from November to the end of the year.
Gold and silver fell with the dollar index climbing strong. $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed.
Just past 1 pm ET the $S&P 500 Index (.SPX.US)$ traded past a fresh high, up 2.23%. The $Dow Jones Industrial Average (.DJI.US)$ climbed 2.28%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 2.33%.
The highlight of macro for the week will be the FOMC rate decision on Thursday. According to the FOMC's dot plot projections, investors are waiting for two more rate cuts this year. Friday, investors will see Michigan inflation expectations from a consumer survey. According to CME futures, prices-the-market is pricing in a 25 basis point cut on Thursday, but we will see.
Yesterday, users contributed their thoughts and questions to our election night broadcast! I stayed up late and called some election results in front of the moomoo audience alongside a wealth of guests from around the world.
Traders, what do you think, is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!
Disclaimer: This content is for informational use only and is not a recommendation or endorsement of any particular investment or strategy. Indexes are unmanaged and cannot be directly invested into. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances, before making any investment decisions. Past performance does not indicate or guarantee future success. Moomoo makes no representation or warranty as to its adequacy, or timeliness for any particular purpose of the above content. The data and information provided has been obtained from sources considered to be reliable, but moomoo does not guarantee that the foregoing material is accurate or complete. See the link in the Moovers Community post for more information.
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
Posts do not represent mm
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104247826 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
72574912 : I don't think it will affect the evolution of maxn in 2025, I believe the future of maxn will be without Trump or with him, no impact on the long term as maxn is present worldwide not just in the USA, where the Americans are heavily indebted, poor Americans same as us, the French.
Nakayama Sun : Wear an undershirt. It’s gross.
105038909 : Who are you?