Tesla and a handful of other so-called Trump Trades led the market rally this week as investors welcomed the Republican's victory in the presidential election. The S & P 500 has climbed more than 4% since Monday began, placing it within striking distance of 6,000, and on track to notch its best week in around a year. These gains came as traders focused in on the outcomes of Tuesday's presidential election and Thursday's interest rate decision from the Federal Reserve.
screened for the Trump Trade names that led the index higher this week and didn't report earnings. Here's the top performers, as of Friday before the bell: Tesla led the way with a gain of 19.3%. The electric vehicle maker is one of the best-known Trump Trades given CEO Elon Musk 's advocacy for the President-elect on the campaign trail. The stock, which touched new 52-week highs this week, is now up more than 27% in 2024.
mountain Tesla, 5 days Discover , meanwhile, is an example of a financial stock that's rallied along with the sector. Shares climbed more than 15% this week, bringing its year-to-date gain above 55%. But Wall Street is wary looking ahead. The average analyst expects shares to fall around 12% and has a hold rating, according to LSEG. Baker Hughes was one of the best energy stocks this week with a jump of nearly 14%.
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