Stock markets in the U.S. shot skyward immediately following news that now-President-elect Donald Trump defeated Vice President Kamala Harris Tuesday night, winning back many of the so-called “blue wall” states, including Wisconsin and Pennsylvania.
Dow futures surged more than 1,000 points on Wednesday morning after Trump took the stage at his headquarters in Florida, expressing gratitude to his supporters and vowing to restore the country, Fox Business reported.
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“We’re going to pay you back. We are going to do the best job. We’re going to turn it around. It’s got to be turned around, and it’s got to be turned around fast. And we’re going to turn it around,” said Trump.
The S&P 500 and Nasdaq futures also jumped over 1% in the early morning, the outlet added.
Trump invited Vice President-elect JD Vance to the podium to address the audience, where Vance discussed the importance of revitalizing the U.S. economy, a key issue in the election.
“We’re going to lead the greatest economic comeback in American history under Donald Trump’s leadership,” Vance told the crowd.
Americans have faced a challenging situation with soaring inflation in recent years. Although it has decreased from its peak of 9%, prices for everyday essentials like food remain high. Gasoline has also remained elevated across most of the country, while other everyday items, along with construction materials, housing, and insurance costs, also cost more. Interest rates have also climbed to record highs under the Biden-Harris regime.
Even before Trump was declared the apparent winner, stock futures were on the rise, continuing a rally from Tuesday when all three major market averages increased by over 1%, with every major sector in the S&P 500 securing gains.
