Stocks Up as Trump Picks VP in Generational Shift: Markets Wrap
- Vance, 39, is nearly four decades younger than Trump, 78
- Powell says data raise confidence inflation on path to 2%
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Stocks rose as wild volatility calls failed to materialize after Donald Trump’s assassination attempt bolstered his chances of taking over the White House. He tapped JD Vance as his running mate.
The Dow Jones Industrial Average hit an all-time high. Trump Media & Technology Group Corp. soared 31%. Conservative video-sharing platform Rumble Inc. jumped 21%. Trump’s rising odds of victory boosted oil producers, gun makers and private prisons. His pro-cryptocurrency stance lifted the industry. Tesla Inc. rallied as Elon Musk endorsed Trump. Solar firms sank as Democrats are seen as more friendly toward the sector.