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Dow Futures Soar After Trump Wins Presidential Election

S&P 500 and Nasdaq-100 futures are up triple digits

Deputy Editor
Nov 6, 2024 at 9:09 AM
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Dow Jones Industrial Average (DJI) futures are soaring this morning, up nearly 1,300 points following Donald Trump's presidential election victory. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are both up triple digits as well, as markets react to the news globally. Notably, U.S. bank stocks are surging, and Bitcoin (BTC) is jumping to record highs. Solar stocks, unsurprisingly, are sharply lower before the bell. 

Continue reading for more on today's market, including: 

  • Schaeffer's Senior Quantitative Analyst Rocky White dives into this week's Dow shakeup
  • Tobacco stock one of the worst to own in November. 
  • Plus, DJT takes flight; NVO reports earnings, and TSLA surges after election. 

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5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw over 1.4 million call contracts and 887,746 put contracts exchanged on Tuesday. The single-session equity put/call ratio rose to 0.62 and the 21-day moving average stayed at 0.63.
  2. Trump Media & Technology Group Corp (NASDAQ:DJT) is up 26.3% premarket after the election results. Heading into today, the equity is up 93.9% year to date.
  3. Novo Nordisk A/S (NYSE:NVO) is down 0.9% premarket, despite the Ozempic parent's slight third-quarter earnings beat, after a narrowed profit forecast. Since the start of 2024, NVO is up 6.5%. 
  4. Shares of Tesla Inc (NASDAQ:TSLA) are 12.7% higher before the bell. CEO Elon Musk is a prominent backer of Trump, and shares are now looking to add to 1.2% 2024 gains. 
  5. What else is coming up this week on Wall Street. 

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Nikkei Jumps on Rate Buzz

Asian bourses were mostly lower today. Japan’s Nikkei was the region’s only winner, tacking on 2.6% after the Bank of Japan (BoJ) minutes from the September meeting showed a consensus over interest rate hikes. South Korea’s Kospi shed 0.5%, Hong Kong’s Hang Seng gave back 2.2%, and China’s Shanghai Composite lost 0.09%.

Over in Europe, markets are reacting to the U.S. election. London’s FTSE 100 and the French CAC 40 are both up 0.9%, at last check. The German DAX is 0.5% higher, shrugging off a profit miss from Commerzbank.

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