Stocks on the Rise: Crypto, Tech, and Auto Firms Benefit from Trump's Reelection

In the blink of an eye after the election results were out, the stock market jumped up. The Dow Jones Industrial Average was up by more than 3 percent, and the Nasdaq Composite and S&P 500 weren't far behind, rising by nearly 2 percent. Crypto In the crypto world, things got really exciting. The price of dogecoin, a favorite among tech titans like Elon Musk, who calls it the “people’s crypto, ” jumped by 18 percent. Bitcoin also saw a record-breaking 8 percent surge in trading before cooling down a bit. Coinbase stock soared by 17 percent, showing that crypto exchanges were thriving. Early on, Trump promised to turn the country into a "crypto capital, " and the numbers seem to be backing that up. Tech Trump Media & Technology Group, the bigwig behind the popular Truth Social platform, saw its stock rise by a whopping 35 percent. By the day after the election, the company's market value had climbed over $7 billion. Microsoft and Amazon stocks also inched up by 1. 1 percent each, showing that tech giants were hanging on to their gains. Auto Tesla's stock price jumped by 13 percent, which was good news for its boss, Elon Musk, who had backed Trump's campaign. Traditional auto companies like Ford and General Motors saw smaller gains, with Ford up by 0. 3 percent and GM by 0. 29 percent. Even steel giant U. S. Steel was having a good day, with its stock climbing by over 3 percent.