Pre-Market Report – Thursday 7 November: US markets soar on Trump 2.0 | NAB results

Market Updates

Wall Street rallied hard overnight reaching record highs after Trump secured the US presidency. All three major indices ended at record levels with markets expecting lower taxes, deregulation and a Trump that weighs in on everything from stocks to the USD. The Dow soared 1,508 points (+3.57%) ending near session highs. Up 1,557 points at best. The S&P 500 registered its one-day percentage gain since November 2022, jumping 2.53% notching its 48th record high this year. Financials were the top-performing sector pushing the S&P 500 Bank Index up 10.68%, its biggest daily jump in two years. The NASDAQ advanced 2.95% and the Russell 2000 rallied 5.84% hitting a three-year high as domestic stocks are seen to likely benefit from easier regulation, lower taxes and less exposure to import tariffs. Wall Street’s fear gauge the VIX plummeted 20.28% to a six-week low, trump trade Bitcoin gained 9.28% and the USD Index firmed 1.65%
ASX to rise. SPI Futures up 31 points (+0.38%).
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