Republican presidential candidate former President Donald Trump reacts following an assassination attempt at a campaign event in Butler on Saturday, Jul 13, 2024. Crypto stocks, prison operators and other shares that could benefit from a Donald Trump presidency jumped on Monday as anInvestors said trades betting on Trump's victory will increase this week after he was shot in the ear during the rally in Pennsylvania.
"The caveat is that it's nearly four months to go and things can change, but today the markets are betting on Trump being the victor," said Ben Laidler, head of equity strategy at Bradesco BBI, adding that TMTG"is the tip of the spear and the most sensitive to a Trump victory". The long-dated US bond yields rose, in part on the assumption Trump's policies would add to inflation and debt, while the benchmark S&P 500.SPX edged 0.5 per cent higher, nearing another record high.
Prison stocks Geo Group GEO.N and CoreCivic CXW.N also rose 10 per cent and 7.7 per cent, respectively. Both are potential beneficiaries of a Trump presidency as he has promised to crack down on illegal immigration, which could boost demand for detention centres.Attempted assassination on Trump: The shooter, conspiracy theories and the Secret Service under scrutiny
Invesco Solar ETF TAN.P fell 5.6 per cent and iShares Global Clean Energy ETF ICLN.O fell 3.7 per cent.