The S&P 500 Index ($SPX) (SPY) today is up +2.05%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +3.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +2.07%.
Stocks today are sharply higher, with the S&P 500 and Dow Jones Industrials posting new record highs and the Nasdaq 100 posting a 3-3/4 month high. Stocks are soaring today after Republican candidate Trump won the presidential election. Republicans also gained control of the Senate, but control of the House was still undecided, with many races too close to call. The dollar also rallied to a 4-month high on election news, and the 10-year T-note yield jumped to a 4-month high on the prospects of higher inflation due to Trump’s policies of tax cuts and increased tariffs.
