Trump’s win keeps powering U.S. stocks to records

Investors continued to pour money into U.S. stocks, setting new records following President-elect Donald Trump's historic White House victory.

The Dow Jones Industrial Average hit a record high for the 43rd time this year, closing above 44,000 for the first time in history.

The S&P 500 index also closed above 6,000 for the first time this year, marking its 51st record close, while the tech-heavy Nasdaq posted its 32nd record close.

In the S&P consumer staples sector, financial and industrial stocks continued to rise, while real estate, health care, and tech stocks declined slightly.

Mr. Trump, who won the popular vote and electoral votes, ran on a platform of being pro-business, deregulation, smaller government, and lower taxes, among other things.

He began assembling his team on Monday evening. Former New York State Representative Lee Zeldin was selected as a participant. President-elect Donald Trump Environmental Protection Agency (EPA) Management as Administrator. Tom Homan became his new border czar, and New York Congressman Elise Stefanik was appointed U.S. ambassador to the United Nations.

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Ark Invest investor Cathie Wood said the incoming Trump administration could benefit more economically than President Ronald Reagan, who cut taxes and reduced the budget deficit in the 1980s.

“Deregulation (shutdown of the SEC, FTC, etc.), government spending cuts (giving room to the private sector), tax cuts, and a focus on technologically enabled innovation will accelerate the U.S. economy more powerfully than during the Reagan Revolution.” ” she explained in a video message posted to X.

Tesla, run by President Trump's top advisor Elon Musk, rose another 9%, taking its market capitalization to more than $1 trillion.

“We believe that President Trump's victory will revolutionize the self-driving and AI story for Tesla and Musk in the coming years,” Wedbush analyst Dan Ives said in a note to clients. We are raising our price target from $300 to $400.” . The company's market capitalization could reach $2 trillion in the next 12 to 18 months, he added.

Tesla's valuation reaches $2 trillion

The company's AI and self-driving opportunities are worth “$1 trillion for Tesla alone, and like the web of federal regulations that Musk & Co. has encountered over the past few years, these important initiatives will continue to grow under President Trump.” We fully expect that progress will be made rapidly.'' [fully self-driving]”Under the new Trump era/autonomy will be largely cleared,” he noted.

Trump's victory also pushed Bitcoin to a new record. The largest cryptocurrency by market capitalization topped $88,000 late Monday, hitting a new inflation-adjusted all-time high as investors embrace what is expected to be his pro-crypto agenda.

Crypto industry's total election spending will be at least $238 million, more than traditional large corporations

Natalie Brunel, host of the podcast Coin Stories, appeared on Making Money with Charles Payne and said, “It turns out there's no government ban.In fact, the United States is buying Bitcoin.'' It is likely that they will start to do so.” “Everyone is waking up to the fact that Bitcoin is not just here to stay. Bitcoin will one day be in every portfolio, every company’s balance sheet, and every country’s reserves. “It will be,” she added.

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Bitcoin's rise has also given momentum to companies in the Bitcoin space, including Microstrategy, Coinbase, and Robinhood.