Anthony Pompliano, founder of Professional Capital Management, explained on “The Big Money Show” why Wall Street is thinking too much about the crypto space.
Investors poured $20 billion into U.S. stock funds Wednesday after President-elect Donald Trump was declared the winner of the presidential election, according to Bank of America.
The bank's strategists, led by Michael Hartnett, reported the largest single-day inflow of stocks since June, with $2.9 billion flowing into the financial sector, a record high.
The Dow, S&P 500 and Nasdaq set new records after President-elect Donald Trump was declared the winner of the presidential election on Wednesday. (Getty Images/Photo Illustration/Getty Images)
The memo states that the biggest factor is that “Mr. Trump won a landslide victory because American voters were more concerned about inflation, inequality, and immigration than they were about low unemployment rates,'' and that the Republican Party's “cleaning house'' meant “big policy measures.'' '', with the potential to be worth $8 trillion. Tax cuts, $3 trillion in customs revenue, and $1 trillion in spending cuts.
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Trump's victory over Vice President Kamala Harris was decisive, with the president-elect winning both the Electoral College and the popular vote. Republicans also gained a majority in the Senate within range Control of the House of Representatives remained up in the air on Friday as key races remained close, although maintaining a majority in the House remains uncertain.
A Trump hat is displayed on the floor of the New York Stock Exchange on November 6, 2024 in New York. (Michael Nagle/Bloomberg via Getty Images/Getty Images)
The Dow Jones Industrial Average, S&P 500 and Nasdaq all set new records following President Trump's victory on Wednesday.
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Dow Financial stocks such as Goldman Sachs and JPMorgan supported the rise.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| Me: DJI | Dow Jones Average | 44151.35 | +422.01 |
+0.97% |
| SP500 | S&P500 | 6011.64 | +38.54 |
+0.65% |
| I: Comp | Nasdaq Composite Index | 19313.291994 | +43.83 |
+0.23% |
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Even before Trump emerged as the winner, stock futures had been steadily rising, building on Tuesday's rally, with all three major market averages up more than 1% as all major sectors of the S&P 500 locked in gains. did.
FOX Business' Suzanne O'Halloran and FOX News' Elizabeth Elkin contributed to this report.
