NEW YORK (Reuters) – Three days after the election of Donald Trump as president of the United States, euphoria reigned again on Friday on the New York Stock Exchange, where the S&P-500 index crossed for the first time during the session the 6,000 point mark and recorded with the Dow Jones its strongest weekly increase in a year.
Added to the spectacular “comeback” of the businessman to the White House was the prospect of seeing the Republicans retain their majority in the House of Representatives, after having captured the Senate.
This “Red Sweep” (red tidal wave, the color of the Republican Party) would facilitate the implementation of the vast program of tax cuts and deregulation favorable to businesses announced by Donald Trump.
American household morale has improved more than expected since the start of November, the first results of the monthly survey from the University of Michigan showed on Friday, with the outlook on the economy considered better among Republicans. .
The Federal Reserve’s quarter-percentage-point rate cut Thursday also continued to help the trend.
The yield on the 10-year Treasury note, however, remained near its highest level in four years, as markets revised downward the pace of the Fed’s rate cuts in 2025 due to fears that Donald Trump’s proposed tariffs would Trump does not revive inflation.
The Dow Jones index rose 259.65 points (+0.59%) to 43,988.99, the S&P 500 gained 22.44 points (+0.38%) to 5,995.54, its 50th closing record this year, and the Nasdaq Composite advanced 17.32 points (+0.09%), to 19,286.78.
Over the past week, the S&P gained 4.66%, the Dow 4.61% and the Nasdaq 5.74%.
The Dow Jones passed the 44,000 points mark during the session for the first time, partly thanks to Salesforce, which gained 3.59% after information from Bloomberg according to which the software manufacturer planned to recruit a thousand employees to its artificial intelligence division.
Airbnb fell more than 8% after reporting lower-than-expected third-quarter profit. Shares in the social network Pinterest fell 14% after sales prospects were considered disappointing.
(Written by Chuck Mikolajczak; Jean-Stéphane Brosse for the )
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