Stocks Surge After US Election, Bitcoin and Palantir Shares Rise, Short-Term Profit-Taking Expected
Following the US election, stocks saw significant gains, with the S&P 500 rising by 4.6% and the Nasdaq Composite surging by almost 6%. The Russell 2000, representing small cap stocks, experienced the largest increase, jumping by 8.6%. President-elect Trump's stance on low interest rates is expected to lessen the impact of economic data, inflation, and interest rates in the short term. The rise in crypto products, including bitcoin, is attributed to Trump's support of the technology and Elon Musk's potential influence in the Trump Administration. Tesla shares continue to rise as short sellers are squeezed.
The editor is monitoring crypto-related stocks such as Coinbase and Palantir, which have gained over 40% in the past week on rumors of securing a defense contract. They predict a short-term profit-taking and a pause in the market after a massive surge in the past week. The editor advises investors to stick to their long-term investment plans and objectives.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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