The U.S. stock markets are surging after President Donald Trump won the presidential election — for the second time — in commanding fashion.
Futures on the Dow Jones Industrial Average Index soared 2.8 percent — or just less than 1,200 points — as of early Wednesday morning, according to CNBC.
Similarly, S&P 500 futures climbed more than 2 percent, while Nasdaq 100 futures rose 1.6 percent.
In another bullish indicator that the markets are excited for a second Trump term, the U.S. dollar went through the roof.
Our Long US Dollar position went roof post the Republican win pic.twitter.com/XULoKAcYwq
— Keith McCullough (@KeithMcCullough) November 6, 2024
Bitcoin prices also rocketed to a record high on back of the Trump victory.
As a reminder, the billionaire became a bitcoin advocate in August, after previously trashing the cryptocurrency as a “scam” in 2021.
Crypto bros looking at the price of Bitcoin right now: pic.twitter.com/wfz5o0SCxZ
— Lark Davis (@TheCryptoLark) November 6, 2024
Will Trump’s victory usher in a new golden age for America?
Yes: 0% (0 Votes)
No: 0% (0 Votes)
From all of these early indications and reports, it certainly appears as if the United States is poised for a new golden age, especially since Republicans ran the table and secured a “government trifecta” by winning control of both houses of Congress and the White House.
“A potential unified government under President Trump would have the greatest degree of freedom for fiscal policy and would likely be the most dollar bullish outcome,” Deutsche Bank analysts wrote in a research note, per Reuters.
“But even without control of Congress, a Trump victory would be decidedly dollar-bullish via the impact of tariffs, and the dollar should especially outperform against high-beta currencies,” such as the Mexican peso and Australian dollar, they predicted.
In his victory speech early Wednesday, the 47th president thanked his supporters and promised to orchestrate an American renaissance.
Donald Trump’s First Speech as 47th President of the United States pic.twitter.com/LtVZdNxl7A
— Wall Street Apes (@WallStreetApes) November 6, 2024
“I want to thank the American people for the extraordinary honor of being elected your 47th president and your 45th president,” Trump said.
“And every citizen, I will fight for you, for your family and your future. Every single day, I will be fighting for you with every breath in my body,” he continued.
“I will not rest until we have delivered the strong, safe and prosperous America that our children deserve and that you deserve. This will truly be the golden age of America,” the then-and-soon-to-be president vowed.
After a grueling three-and-a-half years marred by crippling inflation, daily border invasions and terrifying crime waves, millions of Americans finally feel a glimpse of hope for a better future and a better America.
And the markets clearly concur with how those millions of Americans are feeling.
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