From Goldman to Nvidia: All Stock Market Reports Set Wednesday
Topline
Stocks rose across the board on Wednesday as Wall Street reacted positively to Donald Trump’s victory in the presidential election, setting off a number of milestones as stocks traded near record highs.
A trader on the floor of the New York Stock Exchange after Trump’s victory.
Important Points
All three major US indexes jumped to separate records on Wednesday: The blue chip Dow Jones Industrial Average rose about 3.5%, or about 1,500 points to to a new intraday at 43,711, the bellwether S&P 500 rose 2.3% to over 5,900 and the tech-focused Nasdaq rose 2.7% to a record 18,954.
That’s the Dow’s biggest gain since April 2020 and a percentage advance since Nov. 2022, the S&P’s highest rate since Nov. 2022 and Nasdaq’s since August, while the Russell 2000, tracks 2,000 small companies with a market capitalization of $1. billion, is enjoying its best day since November 2023, with a 5% rally.
Ten of the S&P’s 13 sectors rose, while financials (6%), energy (4%) and industrials (4%) were the biggest winners, consistent with conventional wisdom that the commitment of Trump for less regulation will boost industries.
Notable stocks that hit all-time highs included Goldman Sachs and Nvidia and prominent names like Bank of America and Tesla touched their highest prices in more than a year (see below for list and complete).
And Tesla, Wells Fargo, Goldman Sachs, Morgan Stanley and JPMorgan Chase accounted for the largest percentage of S&P companies valued at $100 billion or more, by company shares per each rose at least 11%.
Personal Statements
The following companies hit their highest prices in at least 12 months on Wednesday, with all-time highs in bold: Amazon, American Express, Apollo Global ManagementBank of America, Bristol-Myers Squibb, Carnival, A wormCisco, Citigroup, Delta Air Lines, General Motors, Goldman Sachs, JPMorgan ChaseHook, Morgan Stanley, Nvidia, Oracle, PalantirTesla, Visa, Walmart and Wells Fargo.
Who Got the Richest Wednesday?
Forbes’s real-time billionaires tracker has the following five people as the biggest net worth winners during the stock market boom: Tesla CEO Elon Musk ($21 billion in earnings ), Oracle chairman Larry Ellison ($11 billion), Berkshire Hathaway CEO Warren Buffett ($7 billion), Amazon founder Jeff Bezos ($6 billion) and Nvidia CEO Jensen Huang ($5 billion).
Important Quote
Tails on US equity indexes after the election include “expectations for strong domestic growth, increased [mergers and acquisitions] jobs, the extension of tax cuts, and the hope of lowering corporate taxes,” UBS strategists led by Solita Marcelli pointed out in a note to clients. “The prospect of a clear election result may also be” an influence, Marcelli added.
Tangent
Other notable changes in financial markets linked to the election included bitcoin, the world’s largest cryptocurrency, hitting its all-time high as investors reacted positively to the expected positive results. is a friend of Trump’s crypto, with the dollar marking its highest single-day jump since 2016. Foreign currencies have fallen amid concerns over trade policy and US government bond yields. The 10-year rose to a four-month high as investors took risks. goods and expressed some concern about the ongoing inflation.
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