Trump victory, Trump trade, banks and energy react

Former President Donald Trump is headed back to the White House and Wall Street is celebrating. Stocks (^DJI,^GSPC, ^IXIC), bitcoin (BTC-USD), and the US dollar (DX-Y.NYB) surged on the news.

Takeaways:

• US stock futures (ES=F, NQ=F, YM=F) and Treasury yields (^TYX, ^TNX, ^FVX) roar to life Wednesday morning after former President Donald Trump was named the winner of the 2024 presidential election.
• Shares of Tesla (TSLA) and Trump Media & Technology Group (DJT, DJTWW) are also soaring alongside other key companies part of the so-called "Trump trade" rallying on the news.
• Big Banks and major oil producers — Goldman Sachs (GS), JPMorgan Chase (JPM), Morgan Stanley (MS), Wells Fargo (WFC), Citigroup (C), Bank of America (BAC), Exxon Mobil (XOM), Chevron (CVX) — are getting a push higher in their stock price, while solar energy companies like First Solar (FSLR) and Sunrun (RUN) sink further.

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