Stock futures surge on president-elect Donald Trump’s sweeping victory
U.S. president-elect Donald Trump
Stock futures surged as the 45th U.S. President Donald Trump and running mate J.D. Vance won a decisive victory over Kamala Harris and Tim Walz in the 2024 presidential election, winning the battleground state map by significant margins, winning the popular vote, and with Republicans set to take both the Senate and House majorities.
CNBC:
Stock futures surged as states were called for Trump and Republicans gained several Senate seats.
“We’re going to help our country heal,” Trump said Tuesday “We’re going to fix everything about our country.”
He said “America has given us an unprecedented and powerful mandate,” which included his fellow Republicans regaining control of the U.S. Senate.
Trump’s presidential victory “brings a mixed bag of positives and negatives” for the retail industry plus “a large dose of uncertainty”, says GlobalData managing director Neil Saunders.
“The main positive for retail is that President Trump will almost certainly renew the tax cut package he introduced during his first term in 2017, which was due to expire at the end of 2025. This will be broadly helpful to consumer incomes, although retailers should not expect to see a surge in spending as it is about rolling over an existing policy that is already baked into consumer behavior,” the retail analyst said in an emailed note. “The huge downside to retail comes from Trump’s proposals on tariffs.”
Saunders noted that there’s a “small hope” that Trump’s comments on raising tariffs are more of a negotiating tactic and any eventual changes could be “modest in scope.”
Shares of Trump Media
are up more than 30% premarket as NBC News projects Trump — the company’s majority owner — the winner of the presidential election.
MacDailyNews Note: Apple shares are up a modest 0.09% ($0.19) to $223.64 in pre-market trading.
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