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The attempted assassination of Donald Trump on Saturday (July 13) appeared to bolster his election prospects. Trump Media & Technology Group, which operates the Truth Social platform, surged 31.4 per cent. Sectors poised to benefit from a potential Trump presidency were among the day’s top performers read more
 "Assassination attempt against Trump pushed Wall Street indices near record highs")
The assassination attempt against Donald Trump is believed to have bolstered his chances of winning the Presidential race, adding to the momentum in the stock market. Agencies
Wall Street stocks ended Monday (July 15) with gains, building on Friday’s rally and responding to heightened expectations of a second Trump presidency that is likely to provide a more relaxed regulatory climate.
The attempted assassination of Donald Trump in Pennsylvania on Saturday (July 13), targeting the presumptive Republican presidential nominee, appeared to bolster his election prospects. Investors speculated that a Trump administration might usher in a tougher trade policy, prolong tax cuts, and roll back regulations on various fronts, from climate policy to cryptocurrencies.
All three major US stock indexes closed below their intraday peaks. Nasdaq and S&P 500 remained just shy of all-time closing highs. Not the Dow Jones Industrial Average, though. It achieved a record closing high.
The Dow rose 210.82 points, or 0.5 per cent, to 40,211.72. The Nasdaq composite gained 74.12 points, or 0.4 per cent, to 18,472.57, while the S&P 500 increased by 15.87 points, or 0.3 per cent, to end the day at 5,631.22.
Market movers
Sectors poised to benefit from a potential Trump presidency were among the day’s top performers. Trump Media & Technology Group, which operates the Truth Social platform, surged 31.4 per cent.
Goldman Sachs advanced 2.6 per cent after surpassing analyst expectations with its latest quarterly earnings report.
US-listed shares of Burberry fell 16.1 per cent following the announcement that Joshua Schulman, previously head of Michael Kors and Coach, would become the new CEO. This came alongside Burberry’s report of a 21 per cent drop in first-quarter revenue and a suspension of its dividend.
Macy’s dropped 11.7 per cent after ending protracted buyout discussions with two investment firms, citing the insufficient and potentially underfunded nature of their latest offer.
Bond market dynamics
Longer-term Treasury yields rose more than their shorter-term counterparts, with the 10-year Treasury yield increasing to 4.22 per cent from 4.19 per cent on Friday. This mirrored movements following last month’s debate between Trump and President Biden, as traders anticipated a Republican victory in November that could lead to policies increasing the national debt.
With inputs from agencies
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English (US) ·