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AKSHAY

@akku2op

3 years ago
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Posted On: March 13th 2024, 06:53 am
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vam.pire._gaming.___ 3 years ago

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The Blue Wave led to green markets. After the Democrats’ stunning sweep last night, stocks soared from start to finish as investors welcomed potential political gridlock and the winding down of hostilities in the Middle East. Posting its best day since President Trump paused his β€˜Liberation Day’ tariffs last year, the Dow rose over 1,500 points. The S&P and Nasdaq each climbed over 1.5%, with tech megacaps rebounding behind record days from Apple and Microsoft. Elsewhere, US Treasurys rallied, pushing yields lower as investors bet on a divided Washington curbing government spending and borrowing. Oil also fell after JD Vance attributed the heavy GOP loss to the Iran conflict in a post on X, sending US and Brent Crude down ~8% each. The only stocks taking hits today were those closely tied to the AI trade. With Dems controlling Congress, many expect limits are coming on data center construction. The sentiment sank semi and neocloud stocks, along with the energy companies powering the AI buildout. If history is any indication, today’s gains could be a preview of the winter. The S&P has risen in the six months following every midterm since 1950, gaining 14.8% on average, per Liquid Trading. πŸ“Έ : Getty
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