Monday saw a dip in the dollar and a rise in global stock indexes and Treasury yields as investors assessed the likelihood that Republican Donald Trump, who withstood an assassination attempt over the weekend, would win the US presidential election. Early record highs for the Dow were aided by positive earnings reports, notably Goldman Sachs’ 1.6% gain.
Treasury yields have a tendency to rise in response to the possibility of a Trump victory by investors, partly because they believe his economic policies will increase debt and inflation.
Some believe that a Trump win would likely result in lower regulations and more tax cuts. Prison operators, cryptocurrency stocks, and other shares surged on Monday. Trump Media & Technology Group’s stock was up 32%. The company is primarily owned by Trump. As bitcoin reached a two-week high, cryptocurrency stocks increased. Energy-related S&P 500 stocks increased 1.9%.
Predict is an online betting siteIt displayed wagers on Trump winning the election at 67 cents, up from 60 cents on Friday, and Democratic candidate Joe Biden at 27 cents. “You’ll see lower tax and regulatory policies under a Republican administration, which is generally positive for stocks. As of right now, investors’ expectations are showing some of that, according to Chris Zaccarelli, chief investment officer of Independent Advisor Alliance.
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