Jim Cramer attributed the market rally to the conclusion of the election and the anticipated pro-business policies of President-elect Donald Trump. Major indexes hit record highs, with the Dow up 3.57% and Tesla soaring 14.75%, reflecting optimism for looser regulations. Cramer noted that while the market thrived under Biden, it remains to be seen how Trump's presidency will impact stock performance.
Tech leaders have expressed their readiness to collaborate with the incoming Trump administration, emphasizing the importance of maintaining U.S. leadership in AI and technology. Notable figures like OpenAI's Sam Altman and Google’s Sundar Pichai highlighted the potential for innovation, while concerns linger over the previous administration's regulatory scrutiny of tech companies. A shift towards a more tech-friendly approach could lead to fewer antitrust actions against major firms.
US stock indices surged 2%-3% following Donald Trump's election victory, with small-cap stocks like the Russell 2000 gaining around 5% due to anticipated business-friendly policies. Major financial institutions, including JPMorgan Chase and Goldman Sachs, saw shares rise 7%-8%, reflecting optimism about potential banking reforms. In contrast, clean energy companies faced declines of 6%-38% amid concerns over slowed clean energy initiatives.
Precision Neuroscience Corp., a competitor to Neuralink, has successfully raised $93 million in a funding round, nearing its $100 million target. This funding values the company at approximately $500 million, positioning it to challenge Neuralink, which has secured over $685 million, and other players like Science, which has raised $150 million.
Silicon Valley anticipates a significant shift in its relationship with the US government as Donald Trump returns to the White House, promising to reverse many policies of his predecessor. He aims to dismantle Biden's executive order on AI safety, adopt a more lenient approach to antitrust merger oversight, and has expressed skepticism about a bipartisan initiative to enhance domestic semiconductor production.
Donald Trump’s victory in the 2024 election is poised to benefit Elon Musk and his companies, particularly xAI, which may gain favor as a government contractor for AI services. The anticipated repeal of Biden's AI Executive Order could accelerate the development of AI models, enhancing competitiveness in the sector.Musk's other ventures, including Tesla, SpaceX, Starlink, and Neuralink, are also expected to thrive under a Trump administration, with potential reductions in regulatory burdens and expedited trials for new technologies.
European leaders are congratulating Donald Trump, with nationalist figures feeling invigorated while others express concern. Despite President Macron's mixed messages, Europe appears vulnerable to potential "America First" policies, which could threaten NATO's collective defense and exacerbate economic challenges amid Sino-American tensions.
Donald Trump, celebrating a potential election victory, made significant promises to the crypto industry, including maintaining U.S. bitcoin holdings and firing SEC Chairman Gary Gensler. He proposed a presidential advisory council for crypto and emphasized the importance of U.S.-based bitcoin mining, asserting that his administration would support the industry against regulatory challenges. With a Republican-controlled Senate, Trump aims to create a more favorable environment for digital assets.
Donald Trump celebrated his victory in the 2024 presidential race, highlighting Elon Musk as a key ally in his vision for America. Musk, a prominent supporter of Trump, may take on a significant role in a second administration, potentially leading a commission to enhance government efficiency and optimize taxpayer spending.
Tesla's Frankfurt-listed shares surged over 14% following positive sentiment around a potential Republican win in the US presidential race, with Elon Musk, the company's top shareholder, backing Donald Trump. Additionally, Coinbase Global shares opened up 16% in Frankfurt, buoyed by a record surge in bitcoin prices exceeding $75,000.
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