Republican presidential nominee and former U.S. President Donald Trump dances after speaking during an election night, Nov. 6, 2024, in West Palm Beach, Florida.The “Trump Trade” was in overdrive Wednesday, making it one for the history books on Wall Street with record finishes for all three major stock indices.
The biggest winners were companies and sectors that investors are betting will benefit from President-elect Trump’s policies. It was the biggest surge for the U.S. dollar since 2020, and Carl Icahn, the activist investor and billionaire, said it will lead to less regulation and more mergers and acquisition.
“The biggest positive from a Trump win would be for Tesla and Musk,” wrote Dan Ives, Senior Equity Research Analyst at Wedbush. “We believe a Trump presidency would be an overall negative for the EV industry as likely the EV rebates/tax incentives get pulled. However, for Tesla we see this as a huge positive.
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