Wall Street is reacting positively to Donald Trump's presidential victory
Wall Street is reacting positively to Donald Trump's victory in the presidential election, with Republicans also securing Senate control. The Dow Jones Industrial Average (DJI) is up 1,303 points and earlier notched a fresh record high. The blue-chip index is also on track for its best day since November 2022. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) nabbed all-time highs of their own and boast triple-digit midday leads at last check. Cryptocurrency and bank stocks are leading today's charge, with Bitcoin (BTC) also hitting record highs.
Continue reading for more on today's market, including:
- CVS Health stock surges despite mixed results.
- Bitcoin's record-setting rally boosts 2 crypto stocks.
- Plus, prison stock pops; a luxury retailer bounces; and solar stock near bottom.
Shares of private prison investment company Geo Group Inc (NYSE:GEO) are getting attention in the options pits. So far today, 32,000 calls have already traded hands, which is seven times the volume typically seen at this point. The most popular contract by far is the November 20 call. The equity was last seen up 37.7% to trade at a five-year high of $20.84, ranking among the best stocks on the New York Stock Exchange (NYSE) as it eyes its best single-day percentage gain since June 2021. For 2024, GEO sports an 88.8% lead.
Luxury retailer Revolve Group Inc (NYSE:RVLV) is also one of the NYSE's top performers today, after the company announced better-than-expected earnings and revenue for the third quarter. Shares are up 24.3% to trade at a fresh 52-week high of $32.33 at last check, as they pace for their fourth-straight daily pop and best gain since Aug. 7. In the last 12 months, RVLV added over 130%.
Sunnova Energy International Inc (NYSE:NOVA) stock is at the bottom of the NYSE as the clean energy sector takes a post-election hit. Breaking into penny stock territory, NOVA was last seen 42.9% lower to trade at $4.04 as it approaches its May 1, record low of $3.37. Shares have shed 73.2% so far this year.
