Data accurate as of 11/11/2024
As we are all aware by now, Donald Trump won the 2024 US Presidential election and will return for a second term in power from January 20th, 2025. To say this US election period has been divisive would be an understatement. Many working-class voters raised valid concerns about surviving in the current American economy, concerns which we will have to watch closely to see if they improve over the next four years, and beyond. Regardless of any individual’s interest or disinterest in the US election, as the world’s top economy, changes in the United States reverberate around the globe, and affect us all.
Now that the dust has settled, one thing is certain; the markets are up. Like most of us, markets like certainty, and with president-elect Trump’s historic support of big business, we are seeing that certainty play out. In the last week, the dollar has surged against other currencies, seeing its highest gain in 8 years; US stock indices have also soared, and even more dubious assets like crypto reached an all-time high. To give some specific figures, following the election, Tesla shares saw a jump of 15%, JPMorgan Chase 12%, and Goldman Sachs 15%.
While stocks like Tesla are riding high, our users’ returns are seeing a general sizeable boost. This is because Wealth8 exclusively offers ETFs (Exchange Traded Funds), a simple and beginner-friendly investing solution, designed to provide exposure to diverse global markets. We categorize our offerings into different risk levels, catering to your individual preferences. All this can be easily done via our mobile app, available on both Apple and Android devices. Regardless of short-term gains, do not forget that ETFs are suited for long-term investment strategies, meaning excitement over immediate potential returns should not derail your long-term financial goals. These recent spikes in share prices are characteristic of a post-election period and should not be taken as an indication of future market movements.
We will have to wait and see how the economy continues to develop in the future. It is in the nature of the market to fluctuate, and a twitchy ‘sell’ finger could easily throw your investments off track. Ultimately, this leads back to a simple truism; make informed decisions with your finances. If you buy, buy because you’ve understood potential implications to the best of your ability, and not because of hype; if you sell, the motivating factor should be the same. As always, please keep in mind that when investing, your capital is at risk. The value of your investments can go up as well as down, and you may lose your initial investment.
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