Is this a good day to hate capitalism? Seems so. Make it all go away.
Is this the real life? Is this just fantasy?
Caught in a landslide, no escape from reality
Open your eyes, look up to the skies and see
Source: CNBC
Stocks were poised for a booming rally Wednesday as Donald Trump won the 2024 presidential election.
Futures on the Dow Jones Industrial Average soared 1,254 points, or about 2.9%. S&P 500 futures gained 2.4% and Nasdaq 100 futures climbed 1.8%. The last time the blue-chip Dow jumped more than 1,000 points in a single day was in November 2022.
NBC News projects that Trump will defeat his Democratic rival, Kamala Harris, after winning 276 Electoral College votes, including key swing states of Pennsylvania, North Carolina and Georgia. Follow CNBC’s 2024 election live blog here.
Investments seen as beneficiaries under a Trump presidency erupted as the former president appeared set to claim victory. Tesla, whose CEO Elon Musk is a prominent backer of Trump, saw shares surge 13% in premarket trading. Bank shares got a boost with JPMorgan, Bank of America and Wells Fargo all jumping at least 6%. Futures for the small cap benchmark Russell 2000, also perceived as a beneficiary under Trump, jumped 6%.
