The Bald Eagle soars: American stocks surged highest this week, with the S&P 500 approaching the 6,000 level. Bank stocks and crypto markets benefitted from anticipated deregulation, whilst Tesla rocketed by as much as 15% due to Elon Musk’s association with Trump’s campaign.
Muted FTSE: It was a quiet week for UK stocks, with traders cautious over the possibility of tariffs under a Trump presidency. However, some US exporters, such as Rolls Royce, saw gains due to the expected boost to the US economy.
Trump trade tremors hit Japan: Financial stocks rose with expectations of tax cuts and higher for longer interest rates. Trump's victory was less positive for semi-conductor related companies in Japan, which tumbled over fears of tougher trade policies. Strong corporate earnings and share buybacks boosted the broader market.
Toil and trouble for oil: Crude prices ended higher after a volatile week. Investors speculated about the outlook under a Trump administration, who's keen to support domestic production and curb the flow from unfriendly regimes.
Gold rebounds: After a sharp drop following the US election result, gold returned to strength following the US rate cut and a weakening of the dollar.
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