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Financial markets are reopening following an assassination attempt on Donald Trump at a campaign rally in Pennsylvania on Saturday. A bullet that grazed the former president’s ear, and could have had a very different result, is still making headlines, amid calls for unity to bring the country together. The shooting also came before the Republican National Convention – which runs from Monday through Thursday – kicks off in Milwaukee, with many analysts weighing in on what the recent spate of events can mean for investors.
Snapshot: The odds of Trump winning in November are seen as increasing following the attack, and some betting markets even show the House swinging in Republicans’ favor, as well as the Senate. A GOP sweep, or so-called “Red Wave,” would likely result in extended tax cuts and hawkish trade policies like higher tariffs. It can also mean looser regulation for hot-button topics ranging from climate change to cryptocurrency.
On the move: Bitcoin (BTC-USD) surged to a two-week high, climbing 8.6% to $62,984, while Ether (ETH-USD) was up 6.8% to $3,361. Stock futures are also on the rise, with contracts tied to the Nasdaq 100 (NDX) ahead by 0.7%, and those linked to the Dow (DJI) and S&P 500 (SP500) ahead by 0.3% and 0.5%, respectively. Trump Media & Technology (NASDAQ:DJT), which is known for its meme qualities and can follow Trump-related developments, also soared 71.5% to $52.95/share, and will likely be on the move for most of the premarket session.