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Trump's Win Sends Indices To Record Highs; Financials, Small Caps Surge, Bitcoin Tops $75,000: What's Driving Markets Wednesday?

Benzinga LogoBenzinga12h ago

Trump's Win Sends Indices To Record Highs; Financials, Small Caps Surge, Bitcoin Tops $75,000: What's Driving Markets Wednesday? - Benzinga

Quick Summary:

The Republican Party reclaimed control of the Senate, while the House of Representatives leans Republican but remains undecided.The major U.S.equity indices – the S&P 500, Dow Jones Industrial Average, and Nasdaq 100 – surged to record highs in early trading, as investor optimism grew on expectations of more favorable tax policies.

Large-cap bank stocks climbed 6%, while regional banks tracked by the SPDR S&P Regional Banking ETF (NYSE:KRE) soared 13%—both seeing their biggest one-day gains since November 2020, when the first COVID-19 vaccine was announced.

However, the real standouts were small caps and bank stocks, with investors turning to domestic businesses and U.S.banks in anticipation of potential tariff protections and further financial deregulation.


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Article Details

Author / Journalist: Piero Cingari

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 19:25:53 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 554 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23451586

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Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 23 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 10 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #53

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