The red wave that catapulted President-elect Trump to a second term created a green money wave for U.S. investors. The Dow Jones Industrial Average and the S&P 500 notched fresh record highs Friday and closed out the best week of the year, rising 4.7% and 4.6%, respectively. The Nasdaq Composite hit its 31st record close of 2024, rising 5.7% for the week. "Contrary to popular belief, under a Republican president, you really don’t want gridlock.
During his remarks, stock futures spiked and continued rallying throughout the week. The Dow soared an unprecedented 1,500 points Wednesday, touching 44,000 later in the week for the first time. "This is what lower regulation and lower taxes look like," Great Hill Capital Chairman Thomas Hayes said during an appearance on "Varney & Co." Wednesday.