Trump and Vance were in the lead on November  5, 2024, against Kamala Harris, and the stock market reacted to this news positively. Not only the U.S. stock exchanges, but the crypto, forex, and commodity markets, too. The primary reason for the positive reaction was due to Trump’s policies that claim a reduced corporate tax, anti-Chinese goods and services, and Trump’s friendship with many Fortune 500 CEOs. Trillions of dollars were pumped into the multiple exchanges around the world creating new all-time highs with $SPY hitting 600 for the first time and Bitcoin going towards the $100,000 mark soon. 

The S&P 500 was up 1.5% in just after-hours trading. This was due to many of its heaviest-weighted stocks skyrocketing. Tesla was up 13% in after-hours trading propelling the stock back to a trillion-dollar market cap. JP Morgan Chase was up 6% in after-hours trading due to Jamie Dimon’s friendship with Trump. On the other hand, Chinese-based companies tanked, and the Chinese stock market ETF $FXI tanked 6% after hours due to Trump’s policies against Chinese goods and tariffs.

Trump’s stock $DJT skyrocketed 40% after-hours and was halted many times due to its increased volatility and possible manipulation. Marijuana and Oil stocks also skyrocketed due to Trump’s favor towards oil and lenient Marijuana laws. Stocks like Chevron and Occidental Petroleum skyrocketed up 3% after-hours. This is pretty unusual for these stocks as they move slowly. Crypto Miner and trader $MSTR was also up 16% after hours due to crypto booming and their CEO having ties with Trump. A big catalyst this week was also the interest rate decision by the Federal Reserve which cut rates by 25 BPS which also helped propel $SPY to 600. 

The next major sector that boomed was crypto. Trump and Vance are very pro-crypto as they want to invest the government’s money into crypto, loosen crypto regulations, and increase demand due to Trump and his rich buddies dumping money into it. Bitcoin was up 5% in a matter of hours skyrocketing from $68,000 to the $72,000 level. This is also reflected across Dogecoin, and Ethereum which were up 10% and 5% respectively. Dogecoin was also pumped due to Elon Musk’s favor towards the currency. As of November 22, 2024, Bitcoin is at $99,000 and Dogecoin is at $0.4 leading to a 40% increase and a 200% increase respectively. Gains like these are unheard of showing how big of a catalyst this election truly was.