Thursday, November 7, 2024

Stocks Soar as Trump’s Victory Drives Cross-Asset Rally

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Good morning. US stocks are surging on Donald Trump’s victory. Amazon hits a fresh high on faith in Big Tech and a lingering strong earnings print. And Thailand is on track to be the next big tourist destination. Listen to the day’s top stories.

Trump-traders are cashing in. The S&P 500 posted its best post-election day in its history on Wednesday after Trump clinched the presidency. Bond yields jumped, bitcoin climbed and the dollar had its best session since 2022. Banks were some of the biggest winners, with Tesla also soaring as investors wagered that the win will be a boon for Elon Musk’s company. But it wasn’t a great day for everyone, BMW and Porsche led German automakers lower amid concerns the next US administration will hike tariffs on imported cars.

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