Here are the stocks rallying the most on Trump's victory
President-elect Trump’s successful reelection bid sparked an uptrend in stocks for crypto, tech and auto industries less than 24 hours after results were announced.
The Dow Jones Industrial Average was up more than 3 percent, while the Nasdaq Composite and S&P 500 also rose by nearly 2 percent at midday.
Crypto
Cryptocurrency exchanges had measurable leaps as the price of dogecoin spiked 18 percent.
Dogecoin is often used by tech giant Elon Musk, who dubbed the cryptocurrency the “people’s crypto” in October.
Companies like bitcoin experienced a record setting 8 percent jump in trading before a slight decline. Stock market shares in Coinbase also rose by 17 percent as reported by the AP.
Early in his campaign, Trump pledged to make the nation a “crypto capital,” and statistics show he is on track to spurring upward movement in the industry.
Tech
Trump Media & Technology Group, the parent company of the president-elect’s preferred Truth Social outlet, soared 35 percent according to Yahoo Finance. The morning after Election Day, the enterprise touts a market cap of more than $7 billion.
Stock in Microsoft and Amazon.com were up 1.1 percent as reported by the financial outlet Barron’s.
Auto
Tesla’s stock ascended by 13 percent, promising financial gains for Musk, Tesla's owner, who avidly supported Trump’s campaign.
Ford Motor Company and General Motors saw marginal gains with the former marking a 0.3 percent increase and the latter seeing a similar 0.29 percent increase.
U.S. Steel also saw noteworthy gains as of Wednesday, as its stock was up more than 3 percent.
-
Phunware’s stock soars on Donald Trump’s election victory
Business - MarketWatch - 6 hours ago -
Stocks soar after decisive Trump victory
Top stories - NBC News - 4 hours ago -
Tesla’s Stock Jumps After Trump’s Victory
Tech - The New York Times - 4 hours ago -
The stock market is rallying because ‘fear has left the building.’ Here’s the danger.
Business - MarketWatch - October 16 -
Stocks are expensive, but their rally can continue for at least another year. Here’s why.
Business - MarketWatch - October 29 -
Harris and Trump's most likely paths to victory in battleground states
Politics - The Hill - October 20 -
Obama: Trump rally speakers used 'most racist, sexist, bigoted stereotypes'
Politics - The Hill - October 29 -
Why most healthcare stocks are falling with Trump’s win, with some exceptions
Business - MarketWatch - 2 hours ago -
Clues to a Trump or Harris Victory Could Emerge Early. Here’s What to Look For.
Top stories - The New York Times - Yesterday
More from The Hill
-
Texas GOP wins big: 5 things to know
Politics - The Hill - 16 minutes ago -
Graham: Use budget reconciliation to bypass filibuster and pass border security legislation
Politics - The Hill - 19 minutes ago -
Allan Lichtman takes shot at Nate Silver: 'I admit that I was wrong'
Politics - The Hill - 22 minutes ago -
Sanctions evasion helps Russia dominate former Soviet republics
Politics - The Hill - 29 minutes ago -
Want to understand what just happened? Try talking to Trump voters for a change.
Politics - The Hill - 29 minutes ago
Latest in Politics
-
Texas GOP wins big: 5 things to know
Politics - The Hill - 16 minutes ago -
Graham: Use budget reconciliation to bypass filibuster and pass border security legislation
Politics - The Hill - 19 minutes ago -
Allan Lichtman takes shot at Nate Silver: 'I admit that I was wrong'
Politics - The Hill - 22 minutes ago -
Tracking the remaining votes in key swing states
Politics - NBC News - 24 minutes ago -
Rep.-elect Sarah McBride is ready to ‘push back’ on a second Trump administration
Politics - NBC News - 26 minutes ago