S&P 500 Sees Best Post-Election Day in Its History: Markets Wrap
- Small caps, banks, health insurers surge on Trump’s victory
- Treasury yields jump as dollar has biggest gain since 2022
Stocks hit all-time highs, US yields jumped and the dollar saw its best day since 2022, with investors mapping out Donald Trump’s return to presidency and the potential for Republicans to win both houses of Congress.
The S&P 500 climbed 2.5% on bets the newly elected president will enact pro-growth policies that will boost Corporate America. The benchmark had its best post-Election Day in history, according to data compiled by Birinyi Associates Inc. and Bloomberg. A gauge of small caps rallied 5.8% amid speculation they will benefit from Trump’s protectionist stance, while wagers on lower taxes and reduced regulation lifted banks. Insurers focused on the Medicare market jumped on expectations the new government will pay higher rates to companies that provide private versions of the US health program for seniors.