Dow Jumps Over 1,200 Points; Donald Trump Wins White House

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 1,200 points on Wednesday.

The Dow traded up 2.90% to 43,445.79 while the NASDAQ rose 2.03% to 18,813.03. The S&P 500 also rose, gaining, 1.77% to 5,884.97.

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Leading and Lagging Sectors

Financial shares surged by 4.4% on Tuesday.

In trading on Tuesday, real estate shares fell by 1.8%.

Top Headline

Former President Donald Trump declared victory in the 2024 presidential election after winning the key battleground states.

Equities Trading UP
                       

• FOXO Technologies Inc. FOXO shares shot up 171% to $0.3718.
• Shares of Sonnet BioTherapeutics Holdings, Inc. SONN got a boost, surging 110% to $8.82 after the company announced the issuance of a U.S. patent covering an IL-18 variant into two novel immunotherapeutic drug candidates.
• Trilogy Metals Inc. TMQ shares were also up, gaining 73% to $0.9835.

Equities Trading DOWN

• Sunnova Energy International Inc. NOVA shares dropped 42% to $4.12.
• Shares of Zoomcar Holdings, Inc. ZCAR were down 40% to $7.94 after the company announced the pricing of $9.15 million private placement.
• PACS Group, Inc. PACS was down, falling 35% to $19.14 after the company announced postponement of third-quarter results and disclosure on civil investigative demands from the federal government.

Commodities

In commodity news, oil traded down 0.7% to $71.50 while gold traded down 2.8% at $2,672.20.

Silver traded down 4.8% to $31.215 on Wednesday, while copper fell 4.6% to $4.2690.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.6%, Germany’s DAX dipped 1.2% and France’s CAC 40 fell 0.8%. Spain’s IBEX 35 Index fell 3.1%, while London’s FTSE 100 fell 0.3%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan’s Nikkei 225 gaining 2.61%, Hong Kong’s Hang Seng Index falling 2.23%, China’s Shanghai Composite Index falling 0.09% and India’s BSE Sensex gaining 1.13%.

Economics

U.S. mortgage applications fell by 10.8% from the previous week in the week ended Nov. 1.

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