Trump’s Return To Office Fuels S&P 500’s Best Day of The Year, Marking Its 48th Record High
Donald Trump’s return to the White House has pumped Wall Street full of bullish adrenaline, igniting a fervent rally in the markets. On Wednesday, the S&P 500 notched its 48th all-time high this year, surging 2.5% as investors bet on pro-growth policies and corporate-friendly reforms. This optimism is mirrored in Wall Street’s “fear gauge,” the VIX, which plummeted dramatically since the news.
- Over the past month, the financial services sector saw significant gains, with the SPDR S&P Regional Banking ETF and the Financial Select Sector SPDR Fund up 17% and 7%, respectively.
- The technology sector also saw a boost, with the Technology Select Sector SPDR Fund and the Invesco QQQ Trust each advancing 6% this past month.
Renewable resilience tested: As President Trump moves to halt offshore wind projects, end the EV tax credit, and pull out of the Paris Agreement, there’s growing uncertainty in the renewable energy sector. While some industry leaders still see potential, concerns are rising that rolling back Biden-era policies could severely stifle growth. Reflecting these worries, the iShares Global Clean Energy ETF and the Invesco Solar ETF saw their one-month values drop by 11% and 13%, respectively. Wood Mackenzie’s forecast warns that changes to green initiatives could slash renewable energy capacity by one-third over the next decade.
