US Presidential Election Frenzy: New York Stock Market Surges as Investors Await the Verdict, Nvidia Takes the Top Spot in Market Capitalization
(Source=finviz)
[알파경제=박남숙 기자] ◇ The New York stock market rose all at once ahead of the election of the 47th president of the United States.
On the New York Stock Exchange, the Dow Jones Industrial Average closed at 42,221.88, up 1.02% from the previous day. The Standard & Poor’s (S&P) 500 index rose 1.23% to 5,782.76, and the Nasdaq index also rose 1.43% to close at 18,439.17.
While M7 big tech stocks rose simultaneously, Nvidia soared 2.84%, surpassing Apple in just four months since June and reclaiming the top spot in market capitalization. Tesla rose more than 3%.
Apple also closed at $223.45, up 0.65%, but fell behind Nvidia with a market capitalization of $3.38 trillion.
Amazon jumped 1.9% with news of FAA approval for delivery drones, raising expectations for improved logistics efficiency in the future. Supermicro Computers rose 3% on a positive note in its earnings report, specifically establishing its market-leading position in liquid cooling data center solutions.
Palantir announced surprise earnings and surged 23%, leading the stock market to rise. Accordingly, most AI-related stocks such as AMD, Qualcomm, Broadcom, and Micron showed strength.
Tesla, which is considered a stock that will benefit if former President Trump is re-elected, and Trump Media, the parent company of Trump’s social media Truth Social, had mixed stock prices. Trump Media, which soared 12% the previous day, continued its rapid rise on this day, but suddenly gave up all of the increase and ended up falling 1.16%.
Treasury yields, which had been on the rise due to predictions that if Trump, who proposed tax cuts, is elected, will lead to a sharp increase in the U.S. fiscal deficit and a surge in government bond issuance, also continued to decline this week.
◇ European stock markets closed with mixed results in a flat range.
The DAX index of the Frankfurt stock market in Germany closed at 19,256.27, up 0.57% from the previous day, and the CAC40 index of the Paris stock market in France closed at 7,407.15, up 0.48%. On the other hand, the London stock market’s FTSE 100 index closed at 8172.39, down 0.14%.
European markets are paying attention to the direction of the US presidential election.
Among the stocks, Melrose Industries, a British aerospace parts company, surged 5.19% after Citigroup forecasted that free cash flow would improve in 2027-28. Italian supercar brand Ferrari plunged 7.06% after reporting earnings reports that its third-quarter core profits rose 7%, but shipments fell 2% to 3,383 units.
In addition, Denmark’s Vestas, the world’s largest wind turbine manufacturer, fell 12.2% after reporting lower-than-expected third-quarter operating profits, and British asset manager Schroders lost 2.3 billion pounds (about 4.14 trillion won) in client funds in the third quarter. ) fell 13.5% as it was revealed that there was a net outflow.
◇ I will also check the Asian stock markets. Most major Asian stock markets rose on the 5th.
China’s Shanghai Composite Index closed at 3386.99, up 2.32% from the previous day. China’s service industry activities expanded at the fastest pace since July, and Chinese stock markets rose sharply following the prime minister’s remarks that China has sufficient policy capacity.
In his opening speech at the 7th China International Import Expo held in Shanghai on this day, Chinese Premier Li Chang emphasized that “the Chinese government has the ability to promote sustainable economic development.” Investor sentiment was also supported by the consideration of a proposal to increase local government debt limits at the National People’s Congress (NPC) Standing Committee meeting.
Japan’s Nikkei 225 index recorded 38,474.90, up 1.11% from the previous trading day. From today, the closing time of the Tokyo Stock Exchange will change from 3 PM to 3:30 PM.
Semiconductor-related stocks such as Disco, LaserTech, Advantest, and Tokyo Electron all rose, while Mitsubishi Heavy Industries and Hitachi showed weakness.
Hong Kong’s Hang Seng Index closed at 21,006.97, up 2.14% from the previous day. Recently, related stocks continued to perform strongly due to the strong sales of major electric vehicle companies. Taiwan’s stock market index closed at 23,106.79, up 0.62% from the previous day.
◇ Let’s look at today’s main schedule. The Born Korea is newly listed.
Among domestic companies, Kakao Bank, Kakao Games, Devsisters, and Doosan Robotics will announce their performance.
It’s the 3billion public offering subscription date. MSCI Semi-Annual Review is now available.
◇ Check out today’s outlook and investment strategy. The New York stock market bought stocks paying attention to the results of the US presidential election, which is expected to be an unprecedentedly close race, and all three major indices rose by more than 1%.
Lee Woong-chan, a researcher at IM Securities, said, “It is true that the election of Harris is better for the domestic stock market and the election of Trump is unfavorable,” and added, “Recently, there was a slight unwinding of Trump trading, so the election results will have an impact on the stock market again.”
However, because there are so many concerns about Trump’s negative news, the analysis is that even if Trump is elected, the further decline in the index may be limited.
Researcher Lee Woong-chan said, “As expected, the impact of tariffs will be the most important issue,” adding, “The U.S. stock market may be more favorable to Trump’s election, but there are indications that it has already reflected expectations for the presidential election as positive news, and domestic demand stocks and small and medium-sized stocks will benefit rather than technology stocks.” “It is expected,” he said.
Alpha Economy Reporter Park Nam-sook (parkns@alphabiz.co.kr)
