The S&P 500 has risen nearly 26% so far this year; boeing reaches settlement

Investors continued the stock market rally that began last week following Donald Trump’s election victory.

All three major Wall Street indices closed Monday’s trading session in positive territory. The rally, sparked by Trump’s win, showed no signs of slowing down.

The Dow Jones Industrial Average, which tracks 30 large-cap companies, rose 0.69% to 44,293.13 points. The S&P 500, comprising 500 stocks, edged up 0.10% to 6,001.35 points. Meanwhile, the tech-heavy Nasdaq Composite gained 0.06% to reach 19,298.75 points.

Among top performers, Tesla stood out with an impressive 8.96% gain. The stock continues to climb after surpassing a $1 trillion market cap last Friday, boosted by the close ties between CEO Elon Musk and President-elect Donald Trump.

Cryptocurrency-related stocks also saw significant gains, driven by Bitcoin’s surge to a new all-time high. Coinbase Global jumped 19.76%, Marathon Holdings soared 29.92%, and Riot Platforms climbed 16.86%.

Year-to-date, the S&P 500 has gained nearly 26%, initially fueled by enthusiasm for artificial intelligence, followed by the Federal Reserve’s rate cuts, and now further boosted by Trump’s electoral victory.

In major market news, U.S. aerospace manufacturer Boeing reached a last-minute settlement on Monday to avoid a civil trial related to the crash of one of its 737 MAX 8 aircraft operated by Ethiopian Airlines, which claimed the lives of 157 people in 2019.

Several trials have been canceled due to settlements reached before the proceedings began, according to a court document from June 2023.

A source indicated that the families of 155 victims filed civil lawsuits between April 2019 and March 2021, citing wrongful death, negligence, and other charges.

ABOUT THE AUTHOR See More

Ignacio Teson

Economist and Financial Analyst

Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.

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