Trump sparks a rally in the US dollar! US stocks and bitcoin hit new highs, with the Dow rising 1500 points, small cap stocks surging, while US bonds and metals plummet.
Dow rises to the best level in two years, small cap index rises nearly 6%, banking stocks rise over 10%, oil, steel, and crypto stocks surge, European and American solar stocks all collapse, Trump media technology rises by almost 35% before closing up by about 6%, Tesla rises by nearly 15% to a two-year high, Qualcomm rises by 10% after the bell. Chinese concept stocks narrow their declines, NIO Inc and Zeekr drop over 5%. 10-year US Treasury yield rises the most by 20 basis points nearing 4.48%, reaching a four-month high along with a 1.7% rise breaking 105 in the USD index, Bitcoin rises by 9% nearing $0.076 million, offshore RMB drops by a thousand points to below 7.20, a three-month low, Euro and Yen once fell by 2%. Gold drops over 3%, London copper drops over 4%.
Here's the Major Earnings Before the Open Tomorrow
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The stock price of companies operating prisons and detention centers has risen significantly, with GEO Group surging over 32% as of the time of publication.
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Express News | Geo Group Shares Rise 24.4% Premarket After Trump Claims U.S. Election Victory
The GEO Group Inc Options Spot-On: On November 5th, 60,530 Contracts Were Traded, With 352.52K Open Interest
Express News | Geo Group up 6.2%, CoreCivic up 3.6%
Express News | Shares of Prison Operators Rise
Wedbush Raises Price Target on GEO Group to $20 From $17, Keeps Outperform Rating
Trump 2.0 has become the biggest concern for global financial leaders. The IMF and World Bank annual meetings are overshadowed by the US presidential election.
Global financial leaders gathered in Washington, discussing professional issues such as debt, inflation, and interest rates on the surface, but what they are really thinking about is Donald Trump. The topic of this former president potentially returning to the White House was particularly prominent at the annual meetings of the International Monetary Fund (IMF) and the World Bank held this week. Whether in public seminars and panel discussions, or at closed-door dinners, people occasionally turn to the upcoming election in less than two weeks. "Everyone is talking about the US election, all holding their breath," said Amir Hamzah Azizan, Malaysia's Second Finance Minister in an interview.
The Market Isn't Predicting a Trump Victory. But It Is Very, Very Afraid of Election Day. -- Barrons.com