Stock Markets Soar to Record Highs on Trump Election Victory 11/06/24

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 6 November 2024

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber discussed what to make of stocks surging to record highs, sparked by President-elect Donald Trump's election victory over Vice President Kamala Harris. The Dow soared into 1,000-point territory for its best day in two years. The anchors explored the "Trump trade" winners from Elon Musk's Tesla to the big banks. Post-election stock losers were part of the discussion. Also in focus: M&A and regulatory scenarios under a new Trump administration, More woes for Super Micro, CVS Health surges, the rally in Trump Media shares rolls on. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market insight and analysis. You're listening to the opening bell of CnBC, Squawk on the Street.
0:05.6	Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintanao with Jim Kramer, David Faber,
0:09.5	post nine of the New York Stock Exchange. Stocks looked open at all-time highs as markets reprice
0:14.1	across the board on Donald Trump's decisive and historic political comeback. The dollar in
0:19.7	small caps are soaring, volatility collapses,
0:22.6	even as control of the House still remains unknown. A roadmap begins with the stock surge
0:27.6	following that historic election, Donald Trump becoming the first and over a century to win back the White House after losing it.
0:33.6	Plus, we're keeping an eye on Tesla shares because they're on a tear. Of course, Elon Musk was amongst Trump's biggest and most vocal backers, and investors
0:41.4	are betting Tesla will benefit from his victory.
0:45.2	Also on earnings watch, keeping an eye on shares of CVS.
0:47.8	They're rallying.
0:48.4	The company does hold off on providing fourth quarter guidance.
0:51.8	Meanwhile, shares of Super Micro.
0:53.8	They're headed in the opposite direction,
0:55.5	as it says it has no timetable for giving us its annual results. Let's, of course, begin with
1:02.0	futures surging today after Donald Trump's stunning political comeback. NBC News projects he has
1:07.2	been elected the 47th president of the United States, defeating Vice President Kamala Harris.
1:12.5	Trump secured a second term after surpassing the 270 electoral votes needed for victory, and he's
1:17.8	on track to win all seven battleground states in a race that many pollsters predicted would be
1:24.1	neck-in-neck. Jim, I'm reminded of what George Bush once said about a midterm.
1:28.3	This was a thumping.
1:29.3	Yeah, this really was.
	...

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