President-elect Donald Trump’s victory in the White House has led to a surge in the stock market, with the S&P 500 rising by $1.9 trillion since the election. The technology sector has seen significant gains, with giants like Alphabet (GOOGL), Nvidia (NVDA), and Tesla (TSLA) leading the charge.
According to an Investor’s Business Daily analysis, the top three winners are Tesla, with a gain of $307 billion, followed by Alphabet, with a gain of $122.5 billion, and Nvidia, with a gain of $118 billion. These companies have seen their market values jump significantly since the election, with some experiencing gains as high as 38.1% for Tesla.
Historically, S&P 500 stocks tend to rally when Republicans dominate, with a Red Wave posting the highest average calendar-year price increase for a Republican President at nearly 13%. Analyst Sam Stovall notes that this trend holds true, despite popular belief that gridlock leads to better market performance.
The gains in tech stocks are attributed to various factors, including Trump’s promise to slap large tariffs on goods imported from China, which could significantly impact the electric vehicle industry. Elon Musk campaigned heavily for Trump and is likely to benefit from the president-elect’s policies.
Other notable winners include Amazon.com (AMZN), Microsoft (MSFT), UnitedHealth Group (UNH), JPMorgan Chase (JPM), Berkshire Hathaway (BRKA), Oracle (ORCL), Salesforce (CRM), Bank of America (BAC), Visa (V), and Meta Platforms (META).
Source: https://www.investors.com/etfs-and-funds/sectors/sp500-stocks-make-investors-trillion-richer-after-trump-win