Following President-elect Donald Trump's decisive election victory, the stock market surged to new record highs, prompting a sense of euphoria within the Trump camp. The rally, which began before the market opened on Wednesday, saw the Dow closing at a new record high, marking its best day since 2022. The S&P 500 and Nasdaq also reached new highs, with the S&P surging by 2.5% and the Nasdaq closing 2.95% higher. Additionally, the US dollar experienced its best day in two years, and Treasury yields rose.
While some may interpret the market rally as a celebration of Trump's victory, others suggest that it may be more a result of the swift resolution of the election, which had been a source of uncertainty for investors. The possibility of Trump and his allies contesting the election outcome in court had cast a shadow over the US economy and stock market in recent months.
