On Wall Street the S&P 500 and the Dow Jones rose to all-time highs on Wednesday, while the Nasdaq also jumped, as Donald Trump won the 2024 US presidential election.. In early session, the Dow Jones Industrial Average rose 1,190 points, or 2.82 per cent, to 43412.81. The S&P 500 rose 93.73 points, or 1.62 per cent, to 5,876.49, while the Nasdaq Composite rose 312.049 points, or 1.69 per cent, to 18,751.22.. 78-year-old Republican Donald Trump recaptured the White House in Tuesday’s election, four years after he was voted out of the White House.. Investors are of the view that Trump presidency will bolster the US dollar as interest rates may need to remain high to combat inflation.. Before the opening bell, futures for the S&P 500 gained 2.2 per cent, futures for the Dow Jones Industrial Average climbed 3.2 per cent, and Nasdaq futures rose 1.6 per cent.. The Republican’s win also powered a rally in Trump stocks, Elon Musk’s Tesla, banks, Bitcoin, and US Treasury yields.. Shares of Trump Media & Technology Group Corp. surged more than 9 per cent.. JPMorgan Chase shares climbed 8.3 per cent.. The price of bitcoin rose 7 per cent to $74,239.. Crypto exchange Coinbase jumped 19.4 per cent.. Electric vehicle maker Tesla stock soared 11 per cent.. The yield on the 10-year Treasury jumped to 4.47 per cent from 4.29 per cent late on Tuesday.. Crude oil. Oil prices fell on Wednesday as the US dollar rallied on Donald Trump’s election as president.. Brent crude oil futures were down $1.04, or 1.4 per cent, at $74.49 per barrel by 1146 GMT, while US West Texas Intermediate (WTI) crude fell $1.04, or 1.4 per cent, to $70.95 per barrel.. Bullion. Gold prices dropped on Wednesday as the US dollar rallied after victory for Donald Trump in the presidential election stoked concerns about tariffs and economic growth.
