Markets rip after midterms: Dow jumps 2.4%, stocks add $1.3 trillion
US markets tore higher in their first reaction to the midterm election results, with the Dow up 2.4% and the S&P 500 up 1.7%. Silver, gold and bitcoin all climbed while crude oil slid 3.5%. Stocks added roughly $1.3 trillion in market cap on the day, according to @KobeissiLetter.
US markets opened the post-midterm era with a broad rally. The Dow Jones led the charge, climbing 2.4%, while the Nasdaq 100 added 2.0% and the S&P 500 rose 1.7%. In total, US stocks tacked on about $1.3 trillion in market capitalization on the day, according to @KobeissiLetter.
It wasn't just equities. Silver ripped 5.0% higher, gold gained 3.0% and bitcoin climbed 3.0%. Crude oil went the other way, with WTI sliding 3.5% as traders rotated out of energy.
The moves came as an initial read on the US midterm election results — a first snap reaction rather than a settled verdict, per @KobeissiLetter. Every major equity index landed in the green, and the safe-haven metals joined the party instead of fading.
Now the question is whether the rally holds. Traders will keep parsing the results as they roll in, and the $1.3 trillion one-day jump sets a high bar for the sessions ahead.
TopicsS&P 500 · Dow Jones · Nasdaq 100 · Bitcoin · WTI Crude · Gold · Silver · @KobeissiLetter
Written by Paparazzi with AI. Not financial advice.
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