Trump Media, gun stocks surge after assassination attempt
Updates price moves, adds details on Trump's pick for vice president, paragraphs 10-11
Trump's survival of assassination attempt boosts his lead over Biden in betting odds
Shares of gun stocks, private prison operators surge on expectations of Trump victory
Clean-energy stocks fall on potential reversal of climate policies
By Medha Singh, Noel Randewich
July 15 (Reuters) -Crypto stocks, gun stocks and shares of other companies that could benefit from a Donald Trump presidency jumped on Monday after an assassination attempt on the Republican candidate boosted expectations he would win the November election.
Trump's survival after he was shot in the earduring a rally in Pennsylvania on Saturdayincreased his already considerable lead in betting odds over PresidentJoe Biden.
Those odds rose more later on Monday after Trump chose U.S. Senator J.D. Vance to be his vice presidentialrunning mate as the Republican Party officially nominated the former president to run again at the start of the party's national convention in Milwaukee.
On politics-wagering website PredictIt, contracts for a Trump election victory traded at 70 cents, up from 60 cents on Friday, with a potential payout of $1. Contracts for a Biden victory were at 26 cents.
Shares of Trump Media & Technology Group DJT.O, majority-owned by Trump, soared 31%, lifting its stock market value to $7.7 billion, despite revenue comparable to two U.S. Starbucks shops.
Trump Media is the parent company of social media platform Truth Social, and its shares have now surged 132% in 2024 as retail traders bet Trump will win a second term as president. Added: He previously served from 2017 to 2021.
"It's nearly four months to go (until the election) and things can change, but today the markets are betting on Trump being the victor," said Ben Laidler, head of equity strategy at Bradesco BBI, adding that Trump Media "is the tip of the spear and the most sensitive to a Trump victory."
Shares of electric vehicle maker Tesla TSLA.O ended 1.8% higher after billionaire CEO Elon Musk publiclyendorsed Trump following the shooting.
Tesla gave back earlier gains of as much as 7% after the announcement of Vance as Trump's running mate.
Vance last year introduced legislation to eliminate EV tax subsidies and replace them with tax credits for U.S.-made gasoline or diesel-powered vehicles. The bill would gut a core part of the White House clean vehicle strategy and has no realistic chance of winning approval in the current Democratic-controlled Senate.
Crypto stocks soared on Monday, tracking a 10% rally in bitcoin BTC= to a two-week high. Trump has presented himself as a champion of cryptocurrency. Crypto exchange Coinbase Global COIN.O and bitcoin miners Riot Platforms RIOT.O and Marathon Digital MARA.O jumped between 11% and 18%.
Long-dated U.S. bond yields rose on expectations that Trump policies would drive up government debt and stoke inflation, while the benchmark S&P 500 .SPX rose 0.3%.
"Most investors are not changing their overall commitment to U.S. equities. After all, the broad stock market rose under the last Trump administration and has risen under the Biden administration as well," said Rick Meckler, partner at Cherry Lane Investments.
Gun makers and ammunition stocks Smith & Wesson Brands SWBI.O, Sturm Ruger & Company RGR.N and Ammo POWW.O jumped between 5% and 15%. Gun stocks in the past have surged following mass shootings, civil unrest and fears of gun control that have led to people to buy more firearms out of fear that their availability would become limited.
Shares of private prison operators Geo Group GEO.N and CoreCivic CXW.N each jumped about 8%. Both are potential beneficiaries of a Trump presidency as he has promised to crack down on illegal immigration, which could boost demand for detention centers.
Video-sharing platform Rumble RUM.O, popular with conservatives, soared 21%.
Clean energy stocks slipped as Trump has said he would reverse many of the Biden administration's signature climate policies, including tax incentives, if he wins the election.
The Invesco Solar ETF TAN.P fell 5.9% and the iShares Global Clean Energy ETF ICLN.O fell 3.9%.
The iShares MSCI China ETF MCHI.O dropped about 2%. Investors believe a second Trump presidency could fuel trade tensions between Beijing and the United States.
U.S. voters view Trump as the better candidate for the economy, according to Reuters/Ipsos polls, even as Biden's White House seeks to benefit from a solid economy with inflation slowing and low unemployment.
"In the absence of any real policy proclamations from Trump, traders are finding themselves having to speculate," said Mark Malek, chief investment officer of Siebert Financial Corp.
"A second Trump presidency would mean expansionary economic stimulus in general, lower income taxes, less regulation, and increased tariffs."
PredictIt bets https://tmsnrt.rs/3LmH4J1
FACTBOX-Trump's second-term agenda: trade wars, mass deportations, destroying 'deep state' nL1N3DM0XA
Reporting by Medha Singh in Bengaluru and Noel Randewich in Oakland, California; additional reporting by Pranav Kashyap in Bengalaru; Editing by Devika Syamnath and Matthew Lewis
අදාළ වත්කම්
නවතම පුවත්
වියාචනය: XM Group සමාගම් ක්රියාත්මක කිරීම පමණක් වන සේවා සපයන අතර වෙබ් අඩවියේ හෝ වෙබ් අඩවිය හරහා ලබා ගත හැකි අන්තර්ගතය බැලීමට සහ/හෝ භාවිත කිරීමට පුද්ගලයෙකුට ඉඩ සලසමින් අපගේ මාර්ගගත වෙළඳ පහසුකම වෙත ප්රවේශය ලබා දෙන අතර වෙනස් කිරීමට හෝ පුළුල් කිරීමට අදහස් නොකරයි. එවැනි ප්රවේශය සහ භාවිතය සෑම විටම (i) නියමයන් සහ කොන්දේසි, (ii) අවදානම් අනතුරු ඇඟවීම් සහ (iii) සම්පූර්ණ වියාචනයට යටත් වේ. එබැවින් එවැනි අන්තර්ගතයක් සාමාන්ය තොරතුරුවලට වඩා වැඩි යමක් සපයා නොමැත. විශේෂයෙන්ම, අපගේ මාර්ගගත වෙළඳ පහසුකමේ අන්තර්ගතය පෙළඹවීමක් හෝ මූල්ය වෙළඳපොළවල කිසිදු ගනුදෙනුවක් සිදු කිරීමට ඉදිරිපත් කිරීමක් නොවන බව කරුණාවෙන් සලකන්න. ඕනෑම මූල්ය වෙළඳපොළක වෙළඳාම් කිරීම ඔබේ ප්රාග්ධනයට සැලකිය යුතු අවදානමක් එක් කරයි.
අපගේ මාර්ගගත වෙළඳ පහසුකමේ ප්රකාශිත සියලු කරුණු අධ්යාපනික/තොරතුරුමය අරමුණු සඳහා පමණක් අදහස් කෙරෙන අතර මූල්ය, ආයෝජන බදු හෝ වෙළඳ උපදෙස් සහ නිර්දේශයන්; හෝ අපගේ වෙළඳ මිල පිළිබඳ වාර්තාවක්; හෝ ඕනෑම මූල්ය උපකරණයක ඉදිරිපත් කිරීමක් හෝ ඒ සඳහා පෙළඹවීමක්; හෝ විශේෂ ඉල්ලීමකින් තොරව ඔබ වෙත ලබා දෙන ලද මූල්ය ප්රවර්ධනයන් ලෙස නොසැලකිය යුතුය.
ඕනෑම තෙවන පාර්ශවීය අන්තර්ගතයක් මෙන්ම XM විසින් සකසන ලද අන්තර්ගතය එනම් අදහස්, පුවත්, පර්යේෂණ, විශ්ලේෂණ, මිල ගණන් සහ වෙනත් තොරතුරු හෝ මෙම වෙබ් අඩවියේ අන්තර්ගත තෙවන පාර්ශවීය වෙබ් අඩවි සඳහා සබැඳි සාමාන්ය වෙළඳපොළ විවරණයක් ලෙස "පවතින පරිදි" සපයා ඇති අතර එහි ආයෝජන උපදෙස් ඇතුළත් නොවේ. ඕනෑම අන්තර්ගතයක් ආයෝජන පර්යේෂණයක් ලෙස අර්ථ දක්වා ඇති ප්රමාණයට, ආයෝජන පර්යේෂණයේ ස්වාධීනත්වය ප්රවර්ධනය කිරීමට නිර්මාණය කර ඇති නෛතික අවශ්යතාවලට අනුකූලව අන්තර්ගතය සකසා නොමැති බවත් එලෙස අරමුණු කර නොමැති බවත් ඔබ සලකා පිළිගත යුතු අතර එබැවින් එය අදාළ නීති සහ රෙගුලාසි යටතේ අලෙවිකරණ සන්නිවේදනයක් ලෙස සලකනු ලැබේ. ඉහත සඳහන් තොරතුරු සලකා මෙතනින් ප්රවේශ විය හැකි, ස්වාධීන නොවන ආයෝජන පර්යේෂණ සහ අවදානම් අනතුරු ඇඟවීම පිළිබඳ අපගේ දැනුම්දීම ඔබ කියවා තේරුම් ගෙන ඇති බව සහතික කර ගන්න.
