Welcome to Extreme Investor Network, where we bring you the latest insights and analysis on all things money. Today, we’re diving into CNBC’s Jim Cramer’s review of Wednesday’s market action, following the resolution of the presidential election.
According to Cramer, the session was shaped by traders who were relieved that the election was over and were preparing for President-elect Donald Trump’s administration. The fact that the winner was already determined brought a sense of certainty to the stock market, making it an attractive destination for new money. This clarity following a contentious election filled with uncertainty was a significant win for investors.
During the session, all three major indexes reached record highs, with the Dow Jones Industrial Average climbing 3.57%, the S&P 500 jumping 2.53%, and the Nasdaq Composite popping 2.95%. Cramer noted that sectors expected to benefit from looser government regulations, such as Big Tech, experienced significant gains.
One notable stock that saw a massive rally was Tesla, closing up 14.75%. CEO Elon Musk, a vocal Trump supporter, is expected to fare well under the new administration. Similarly, tech giants like Alphabet and Amazon, which have been under scrutiny for antitrust concerns, also saw gains. Additionally, cybersecurity stocks received a boost amid expectations of increased cyber threats during a Trump presidency.
Cramer pointed out that the market reached record highs during the Biden administration, and it remains to be seen what lies ahead with Trump at the helm. With Trump’s pro-Wall Street stance, there is optimism about the market’s future performance. Cramer emphasized that it might be a challenge to surpass the market performance under the Biden regime, but there is potential for growth with a president-elect who values the stock market’s performance.
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