The US stock market resumed its upward trend after President-elect Donald J. Trump’s latest statements on tariffs and immigration. Despite initial concerns, the S&P 500 rose 0.6% to a new high of 6,032.38 on Friday, driven by enthusiasm for Mr. Trump’s tax cuts and regulatory reforms.
The index has surged since before the election, with predictions that Mr. Trump would win fueling market confidence. The S&P 500 is now up 26.5% for the year and 32.6% for the past 12 months, outperforming expectations. Palantir was the best performer in the S&P 500, gaining over 60%, while Celanese, a chemical supplier, suffered a 42% loss due to poor earnings.
In Europe, the STOXX 600 index rose on Friday, boosted by expectations of an interest rate cut by the European Central Bank. However, the French CAC 40 share index fell 2.3% for the month amid budget and political concerns.
Source: https://www.nytimes.com/2024/11/29/business/stock-market-election-trump.html