The market is already indicating the early winners and losers from Trump’s victory

On By Littum

The future of the White House is decided. So what does this mean for the rest of us?

A pillar of President-elect Donald Trump’s campaign was the economy and the work he would do to “fix it.” He even adopted the slogan in the final days of the election season.

We still have a few months until he goes to work, but there are already indications of who will and who won’t benefit financially from these plans. Let’s break it down:

Winners

Equity investors: The three major US indexes – the S&P 500, the Nasdaq Composite and the Dow Jones Industrial Average – rose to record highs as Trump’s return is seen as a boon for the market. The president-elect’s plan to cut corporate taxes is probably the biggest catalyst for the rally. But the potential for deregulation, aided by a GOP-majority Senate and potentially the House, is more wind in the stocks’ sails.

Tesla shareholders: The electric car giant took off on the news of Trump’s victory, ending the day up nearly 15%. CEO Elon Musk’s big bet on the former president has paid off, with one analyst describing Trump’s victory as a “home run” for Tesla. Another said the regulatory hurdles Tesla faces with its autonomous driving technology could speed up with Trump in office.

Bitcoin Believers: Trump was largely seen as the more favorable option for digital currencies, and that is already playing out bitcoin reaches record highs and eclipses the $75,000 mark on Wednesday. The self-proclaimed “crypto president” has also helped the sector’s stocks like Coinbase, which ended the day up more than 31%.

Losers

People who hope inflation will stay low: Trump has hammered the current administration for the high inflation that plagued the country through 2022 and 2023. But most economists believe the president-elect’s plan for a minimum 10% general duty on most imported goods will flare up inflation again. The tax, which is supposed to generate money for the US government, is ultimately seen to be passed on to the US consumer, leading to higher prices.

Potential home buyers: Inflation concerns may result in tighter monetary policy, which means that mortgage interest rates will remain high. Bond yields are already rising, indicating that the market expects borrowing costs to continue to rise. The 10-year U.S. Treasury yield, which mortgage rates closely track, rose to 4.477%, the highest level since early July.

Investors in Europe: European growth is about to take a hit from Trump’s proposed tariffs, according to Goldman Sachs. The bank’s analysts cut their growth forecasts across the region to 0.8% from 1.1% for next year, citing political uncertainty arising from tariffs as a major reason. However, at least one European is happy. The French national polymarket “whale” banked $48 million in profit from their Trump election effort.

The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, Senior Editor, in London. Ella Hopkins, associate editor, in London. Grace Lett, editor, in Chicago. Amanda Yen, Fellow, in New York. Milan Sehmbi, Fellow, in London.