Niles Investment Management founder and portfolio manager Daniel Niles shares his stock market story ‘Making Money.’
Investors continued to invest in US stocks, setting new records following President-elect Donald Trump’s historic victory in the White House.
The Dow Jones Industrial Average hit its 43rd record high of the year, closing above 44,000 for the first time.
The Dow Jones Industrial Average
The S&P 500 closed above 6,000 for the first time in its 51st record year-end, while the tech-heavy Nasdaq posted its 32nd record high.
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| Me: DJI | DOW JONES QUANTITIES | 44293.13 | +304.14 |
+0.69% |
| SP00 | NO DATA AVAILABLE | – | – |
– |
| I: COMP | NASDAQ COMPOSITE INDEX | 19298.763253 | +11.99 |
+0.06% |
Within the S&P consumer sentiment, financials and industrials led gains, while real estate, health care and technology had slight losses.
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| XLY | CONSUMER DISCRETIONARY SELECT SECTOR SPDR ETF | 219.46 | +4,34 |
+2.02% |
| XLF | FUNDS SELECT SECTOR SPDR ETF | 49.89 | +0.70 |
+1.42% |
| XLI | INDUSTRIAL SELECT SECTOR SPDR ETF | 143.19 | +1.10 |
+0.77% |
| XLRE | REAL ESTATE SELECT SPDR® FUND – USD DIS | 43.53 | -0.38 |
-0.87% |
| XLV | HEALTH CARE SELECT COUNCIL SPDR ETF | 149.30 | -0.88 |
-0.59% |
| XLK | TECHNOLOGY SELECT COUNCIL SPDR ETF | 235.85 | -1.31 |
-0.55% |
Trump, who won the popular and electoral vote, ran on pro-business, less regulation, smaller government and lower taxes, among other initiatives.
He has started assembling his team since Monday evening. Former New York attorney Lee Zeldin was appointed to join President-elect Donald Trump administration as director of the Environmental Protection Agency (EPA). Tom Homan is his new border chief, and NY Rep. Elise Stefanik has been appointed US Ambassador to the United Nations.
NATIONAL DEBT TRACKER: FOXBUSINESS.COM
Investor Cathie Wood, of Ark Invest, said the incoming Trump administration may have more economic benefits than Ronald Reagan after he cut taxes and reduced the deficit in the 80s.
“Deregulation (undermining the SEC, FTC, and others), reducing government spending (making room for private companies), reducing taxes, and focusing on technology-enabled innovation are likely to charge the US economy more strongly than during the Reagan Revolution.” he explained in a message. of the video sent to X.
Tesla, run by Trump’s close adviser Elon Musk, rose another 9%, and its market capitalization exceeds $ 1 trillion.
“We are raising our price target on Tesla to $400 from $300 as we believe a Trump White House win will change Tesla and Musk’s autonomous and AI narrative in the coming years,” Wedbush analyst Dan Ives said in a note to clients. . The company’s market cap could reach $2 trillion in the next 12 to 18 months, he added.
TESLA PROPOSED FOR $2 BILLION
The company’s AI and the possibility of autonomy “are worth $ 1 trillion alone to Tesla, and we fully expect under the Trump White House these important steps will now be followed as quickly as the web of control of the state that Musk & Co. encountered in the last few years. close of FSD [fully self-driving]”Independence is very clear under the new Trump era,” he noted.
Elon Musk, CEO of Tesla Inc., left, and former US President Donald Trump, before a campaign event at the Butler Farm Show in Butler, Pennsylvania, US, Saturday, Oct. 5, 2024. (Justin Merriman/Bloomberg via Getty Images/Getty Images)
Trump’s win also propelled bitcoin to new records. The largest cryptocurrency by market value reached $88,000 late Monday, a new, all-time high, as investors embraced what are expected to be his pro-crypto policies.
OPTIONS FOR CRYPTO INDUSTRY TILE AT LEAST $238M, BEYOND HUMANITY
“Now we know there won’t be a government ban. In fact, it’s likely that the US will start buying bitcoin “said “Money News” podcast host Natalie Brunell during an appearance on “Making Money” with Charles Payne. “Everyone is waking up to the fact that bitcoin, it’s not just here to stay. It will be in every portfolio, in every company’s balance sheet and in every nation’s treasury one day” he added.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| MSTR | Company MICROSTRATEGY INC. | 340.00 | +69,58 |
+ 25.73% |
| THE TRUTH | COINBASE GLOBAL INC. | 324.24 | +53,50 |
+ 19.76% |
| THE HOOD | ROBINHOOD MARKETS INC. | 32.80 | +2,26 |
+ 7.40% |
The Bitcoin rally is also driving companies in the bitcoin space, including Microstrategy, Coinbase and Robinhood.
Source link
