Tesla's market cap hits US$1.1 trillion. It could be the biggest beneficiary of Trump’s election. US regulatory approval for FSD could come sooner than thought

The Nasdaq 100 $NASDAQ 100 Index (.NDX.US)$ rose 1.1%, with 63 stocks in the index gaining, while the S&P 500 rose 0.24% to 6,047 points, with options trades betting the equity benchmark will hit 6,200 to 6,300. That means the market could gain 2.4% to 4.2% in December. If this week’s economic data shows the US is in a Goldilocks scenario and we see the US cut rates in December, then shares might grind higher for the year-end, with seasonality and the Santa rally in play.

So although Tesla’s earrings are expected to rise as it gains market share in China, and its shares could be a lot higher in year, specially with FSD in the mix. Do consider there is room for Tesla $Tesla (TSLA.US)$ shares to pull back a bit. Tesla shares are trading 1% lower in after hours trade as Elon Musk lost his bid to have his US$56 billion record pay package reinstated. The Delaware judge made the decision even after shareholders supported reinstating it. His pay package was initially $2.6 billion and then spiked to $56 billion by the time the judge canned it.

SMCI $Super Micro Computer (SMCI.US)$ is another stock to watch after it rose 28% in normal trade when fraud was ruled out.

And last but not least, consider the Aussie market hit a brand new record all time high today of 8,498 points after rising 12% this year. More highs will could be expected as commodity stocks continue to move up, and join in on tech rally. Optimism improved vastly yesterday as China, the biggest consumer of commodities proved its economy is in a build phase with factory activity rising at its fastest pace in five months. So we’re seeing copper and iron ore prices move up, and BHP $BHP Group Ltd (BHP.US)$ and Rio Tinto $Rio Tinto (RIO.US)$ shares are finally break out higher.