Thursday, November 7, 2024
HomePoliticsWall Street Booms After Trump Win While UK Market Slumps

Wall Street Booms After Trump Win While UK Market Slumps





Wall Street Booms After Trump Win While UK Market Slumps





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Wall Street is reacting with jubilation to the election of a deregulation and low-tax candidate to the White House. As opposed to the one who proposed hikes in capital gains tax, corporation tax, estate tax, and a new financial transaction tax…

Markets are posting an impressive performance today:

  • S&P 500 up 2.1% to 5,905.60.
  • Dow Jones Industrial Average up 3.3% an all-time peak of 43,614.51. The biggest single-day jump in two years…
  • Nasdaq Composite up 2.5% to 18,894.30.sam
  • Russell 2000 index up 4.9%.
  • Bitcoin up 7% at 74,463.
  • Dollar index up nearly 2%.

It’s happened before – the S&P 500 rose 70% over the course of Trump’s first term. Back across the pond rising gilt yields have sustained themselves and are actually getting higher. 10-year gilt yields topped a Truss-beating 4.6% earlier today and are hovering just below right now…

If those borrowing costs are maintained Reeves’ £9.9 billion of “fiscal headroom” as designated by the OBR according to her rules will be completely wiped out. Gilty as charged…



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