Stocks, Crypto, and Dollar Rally as Donald Trump Takes the White House

• Following Donald Trump’s victory in the 2024 presidential election, U.S. stock futures and global equities soared.
• The U.S. dollar strengthened amid the “Trump Trade” rally, with the DXY index approaching 105 points.
• Bitcoin reached a new all-time high, surpassing $75,000 and outperforming its previous peak of $73,000 in March.

Stocks, the dollar, and cryptocurrencies experienced significant gains Wednesday as investors reacted to Donald Trump’s victory in the 2024 presidential election.

These market moves reflect growing optimism among investors, particularly in sectors tied to Trump’s pro-business, pro-crypto policies.

Stock Raise After Trump Claims Victory

Stocks were set for a significant rally Wednesday following Donald Trump’s victory in the 2024 presidential election.

Dow Jones Industrial Average futures jumped 1,254 points, about 2.9%, while S&P 500 futures rose 2.4%, and Nasdaq 100 futures climbed 1.8%. The blue-chip Dow hasn’t seen a single-day gain of over 1,000 points since November 2022.

Shares of Trump Media & Technology Group , a social media company closely linked to Trump, surged 38% in premarket trading.

Trump’s influence extended internationally, with European indices—London’s FTSE 100, Paris’s CAC 40, Frankfurt’s DAX 40, and Milan’s FTSE MIB—up around 1% or more. Tokyo’s main index also closed up by 2.6%.

Dollar Strengthens Against Euro and Pound

The dollar  is surging as the “Trump Trade” gains momentum. With former President Trump set to take office again, both the dollar and U.S. Treasury yields are climbing alongside U.S. equity futures.

The DXY index is near 105.0, poised to test its June high 106.1. The euro is the weakest among major currencies, trading lower around $1.0720, followed closely by the yen, with USD/JPY trading near 154.2 and approaching July’s high of 162.

Emerging market currencies are down across the board, with the Mexican peso hit hardest as the USD/MXN reaches its highest level since August 2022, near 20.74.

Obviously, the dollar also experiences the Federal Reserve effect, as the U.S. central bank starts today a two-day meeting that may end with a 25 basis point rate cut.

Experts also think that the Fed will maintain a cautious outlook, especially given the elevated inflation risks associated with a second Trump term.

Bitcoin Hits New All-Time High

Crypto markets surged as investors after Donald Trump’s victory, driving Bitcoin’s price over $75,000 to a new all-time high, surpassing its previous peak of $73,000 in March.

Bitcoin, the world’s largest cryptocurrency, climbed to $74,504, surpassing its previous all-time high of $73,780 hit in March, according to CoinMarketCap data .

The price has risen by over 10% in the last 24 hours and more than doubled over the past year.

Crypto advocates celebrated the price rally, predicting the swift exit of SEC Chair Gary Gensler, who has faced widespread criticism for allegedly stifling the industry.

As is known, Donald Trump is expected to remove Gensler – unless the latter decides to step down before – and replace him with a more crypto-friendly name.