Stocks Surge Post-Election Amid Optimism and Rate Cuts

U.S. stocks projected a higher opening on Monday, extending post-election gains, amid anticipation of economic data that could influence the equity rally. Tesla and other stocks surged, with major indexes hitting significant milestones following Trump’s return to the White House and the Federal Reserve's rate cuts.

U.S. stocks were poised to open higher on Monday, continuing their post-election ascent, while investors awaited upcoming economic data crucial to the endurance of this rally.

Tesla surged by 6.4% in premarket trading, nearing a $1 trillion market valuation, as stocks that rose post-election maintained their upward momentum. The small-cap Russell 2000 also climbed by 1.3%, buoyed by President-elect Donald Trump's fiscal promises.

In the previous week, major indexes soared with Trump's re-election, catapulting the S&P 500 and Dow to significant heights. Meanwhile, cryptocurrencies rallied, pushing bitcoin beyond $81,000, followed by gains in crypto stocks like Coinbase. The Federal Reserve's rate cuts added fuel to investor optimism.

(With inputs from agencies.)