Washington, D.C.: Investors across the United States have been accumulating stocks and placing bets on the strength of the dollar following the historic victory of Donald Trump in the 2024 US presidential elections.
At the time of this report's filing, the benchmark S&P 500 index stood at 5,881.15 points, marking a 98.39-point increase or 1.70 percent rise. This surge was at its peak, reaching 5,905.60 points, which marked its 52-week high.
The New York Times has reported that the US stock markets experienced a steady rise overnight as the votes were tallied, and this trend continued into early morning Wednesday as the election results became apparent.
Furthermore, the Russell 2000, which is designed to track the performance of smaller companies most influenced by the US economy, saw a 4 percent increase.
In his address today, President Trump indicated that his administration plans to increase tariffs and reduce taxes, suggesting a focus on strengthening the American economy.
Looking ahead, the focus will shift to the US Federal Reserve's monetary policy meeting scheduled for Thursday. The extent of any rate reductions will be closely scrutinized by investors worldwide.
This follows the US Federal Reserve's decision to implement a 50 basis points interest rate cut during its latest review meeting in September, marking eight consecutive meetings with interest rates at their current restrictive level since July 2023. During the COVID-19 pandemic, interest rates were at near-zero levels.
Investors globally are anticipating a rate reduction from the US central bank, though the magnitude of the cut remains a subject of speculation.
