Investing.com -- The Dow racked up strong gains, notching a record high and its best day since 2022 on Wednesday as Donald Trump was elected the 47th President of the United States, stoking optimism that his policies could spur further economic growth.The Associated Press and other major news networks have declared Trump the winner of the 2024 presidential election, confirming his return to the White House.
"The big question for markets now is whether Trump’s win will bring full Republican control or a split government. If Republicans take both chambers, Trump could have more room to cut corporate taxes—a potential boost for investor confidence, ” said Russell Shor, Senior Market Specialist at Tradu. "In our base case, we expect the S&P 500 to rise to 6,600 by the end of 2025, a near-15% price return from current levels, driven by our expectations of benign US growth, lower interest rates, and the continued structural tailwind from AI," UBS said in a Wednesday note.) stock climbed more than 14%, with the electric vehicle giant viewed as a key beneficiary of a Trump win, as CEO Elon Musk was a major backer of the former president’s campaign.
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