what has the stock market done since the election
Stock market performance since the 2024 U.S. presidential election
Query focus: what has the stock market done since the election — this article summarizes how major U.S. indexes, sectors and notable stocks behaved from the November 2024 presidential election through late 2025, why markets moved, and what analysts reported about risks and opportunities. Readers will get a timeline of key events, sector-level outcomes, volatility patterns, links to crypto and macro drivers, plus neutral, practical investor considerations. As of December 15, 2025, multiple outlets had assessed the post‑election period; this entry synthesizes reporting from CNN, The New York Times, AP News, Investopedia, MarketWatch, The Washington Post, U.S. Bank and Citizens Bank.
Scope and definitions
This article treats "stock market" as shorthand for major U.S. equity benchmarks: the S&P 500 (large-cap broad market), the Nasdaq Composite (tech‑heavy), the Dow Jones Industrial Average (30 large-cap industrial/blue‑chip companies) and the Russell 2000 (small caps). The reference election is the November 2024 U.S. presidential election; the analysis window runs from the immediate post‑election days through late 2025 (coverage dates noted in text). Citations and date stamps appear before reported facts where possible. This entry avoids political commentary and focuses on market outcomes and economic/policy drivers.
Lead summary: what has the stock market done since the election
Short answer to "what has the stock market done since the election": stocks staged an immediate post‑election rally driven by pro‑business expectations, experienced intermittent pullbacks and volatility tied to trade/tariff announcements and macro data, and spent much of 2025 oscillating between record highs and short corrections — with tech/AI names powering many moves and small caps lagging at times. As of December 15, 2025, major outlets reported that indexes had both set fresh highs and had significant single‑day swings during the period (sources cited below).
Overall index performance
Overall, major U.S. equity indexes saw net gains across the post‑election window, but that headline masks important divergence by sector, market cap and time period. The market's path included an initial post‑election rally, mid‑2025 volatility around trade and AI valuation concerns, and renewed gains as investors priced in expected easing from the Federal Reserve and solid corporate earnings. Below are index‑specific synopses.
S&P 500
The S&P 500 experienced a notable lift in the weeks after the election, tested and in places set new record closes during 2025, and also went through pullbacks tied to macro surprises and sector rotation. As of December 11, 2025, Investopedia and MarketWatch had documented several record or near‑record sessions for the S&P 500 during 2025, while also highlighting intermittent corrections of several percentage points when sentiment shifted (Investopedia, Dec 11, 2025; MarketWatch, various 2025 pieces).
Dow Jones Industrial Average
The Dow recorded multiple milestone closes in late 2025 amid gains in cyclical and blue‑chip names. Reporting in The New York Times noted record‑close headlines in late 2025 tied to earnings and macro signals; however, the Dow also showed occasional large‑point intraday swings reflecting broader market volatility (The New York Times, Dec 2025).
Nasdaq Composite
The Nasdaq, concentrated in technology and growth names, was more volatile. Strong performance from AI‑related giants and chipmakers fueled outsized moves upward at times, while profit‑taking and AI‑valuation concerns produced sharper drawdowns compared with the broad market. Tech earnings seasons and specific company reports (notably chip and cloud vendors) were principal catalysts for Nasdaq moves (CNN and AP coverage, 2025).
Small‑cap indices (Russell 2000)
The Russell 2000 lagged the largest indexes at several points, reflecting higher sensitivity to interest rates, trade policy and domestic economic shifts. Small caps showed periods of strength when investors rotated into cyclical or value plays, but also underperformed during risk‑off episodes tied to tariff scares and funding‑cost concerns (U.S. Bank, Citizens Bank commentary, 2025 market notes).
Timeline of major events and market reactions
Below is a chronological summary of the principal events since the 2024 election and how markets reacted, drawing on contemporary reporting.
Post‑election rally and early 2025
Immediately after the November 2024 election, markets rallied on what many outlets described as pro‑business expectations: investors anticipated business‑friendly policies, potential fiscal measures, and a regulatory environment perceived as supportive for large corporations. As of November 10–20, 2024, coverage by CNN and MarketWatch documented an early risk‑on posture in equities (CNN analysis, Nov 2024).
That rally carried into early 2025 as earnings and macro surprises initially supported investor optimism. Multiple sectors — particularly financials and select industrials — outperformed during the first quarter, while tech continued to capture headlines for AI‑related gains.
Trade and tariff policy episodes
During 2025, a series of trade and tariff policy announcements triggered short‑term volatility. Markets reacted negatively to unexpected tariff proposals or rhetoric that could raise input costs, disrupt supply chains or prompt retaliation. According to reporting by The Washington Post and MarketWatch in mid‑2025, equities saw sharp intraday moves on tariff news, with cyclical stocks and small caps often most affected (The Washington Post, mid‑2025).
Mid‑2025 to late‑2025 — AI, corporate earnings and volatility
Mid‑2025 witnessed an intensified focus on AI. A handful of large companies — including leading chipmakers and software firms — reported results or forecasts that amplified enthusiasm for AI adoption. That wave lifted tech indexes but also generated debates about an "AI bubble" as rapid gains concentrated in a small group of names. Several outlets, including The New York Times and CNN, covered episodes of rapid gains followed by sharp, tech‑led pullbacks in 2025 (NYT, CNN, 2025).
Corporate earnings seasons in 2025 were mixed: some companies beat expectations and cited AI spending as a tailwind, while others warned of margin pressure from tariffs or wage costs. These mixed signals produced rotation between growth and value sectors.
Monetary policy and Federal Reserve actions (2025)
Monetary policy remained a dominant market driver. Throughout 2025 the Federal Reserve signaled and then implemented shifts in rate policy based on inflation and jobs data. As of December 11, 2025, Investopedia summarized market moves tied to the Fed's guidance and to a December rate reduction that markets began pricing in late in the year (Investopedia, Dec 11, 2025). Fed commentary, bond yields and inflation prints were repeatedly cited by analysts as primary determinants of equity multiples and sector rotation.
Sector and stock‑level effects
The broad gains masked notable sectoral divergence. Reporting across outlets highlighted winners and laggards:
- Winners: AI‑exposed technology firms (chip designers and cloud/AI‑infrastructure companies), certain industrials and select consumer staples and healthcare names that benefited from defensive buying during volatile stretches.
- Laggards: Some small caps, exporters sensitive to tariffs or dollar strength, and firms with weak revenue guidance were notable underperformers during correction periods.
Company‑level examples frequently cited in coverage included large chipmakers and software companies that drove headline tech gains during AI rallies, along with major cloud vendors whose spend on AI services supported provider results. Press pieces discussed outsized moves in names that reported material AI‑related revenue or guidance changes (CNN, NYT, AP, 2025 reporting).
Volatility, trading dynamics and investor sentiment
Volatility increased relative to the calm prior to the election at several points, with multiple reports of large intraday swings. MarketWatch and CNN detailed episodes where the Dow experienced 500‑ to 1,000‑point intraday moves tied to headline news (MarketWatch, CNN, 2025). Indicators of investor sentiment — such as flows into equity funds, options‑based measures of expected volatility, and surveys of fund managers — showed oscillation between fear and greed as headlines changed.
Trading dynamics included higher volumes around key earnings and policy announcements; these spikes reinforced single‑day market moves and fueled short‑term directional bias among retail and institutional participants.
Interaction with cryptocurrencies and other asset classes
Stock market moves were accompanied at times by correlated moves in cryptocurrencies. Bitcoin and other major digital assets rallied in several bouts during the post‑election period, and some analysts cited shared flows and macro drivers (rates, dollar weakness) as reason for correlation. As of December 15, 2025, AP News and Investopedia identified episodes where bitcoin rallies accompanied broad risk‑on moves in equities (AP, Dec 2025; Investopedia, Dec 11, 2025).
Fixed income (Treasury yields) was a central cross‑asset channel: rising or falling yields influenced equity sector performance (growth vs value) and affected volatility. Commodities and FX moves also fed into specific industry results, especially for exporters and commodity‑sensitive firms.
Macroeconomic drivers and policy influences
Principal macro drivers included:
- Interest rates and the Federal Reserve: inflation readings, payrolls and Fed guidance determined rate expectations and equity valuations.
- Fiscal and trade policy expectations: anticipated or announced tariff changes and fiscal proposals altered sector profitability and supply‑chain costs.
- Corporate earnings and guidance: firm‑level results — particularly related to AI investment and capex — shaped index contributions.
- Geopolitical events and global growth indicators: risk events outside the U.S. periodically adjusted global risk appetite and cross‑border flows into U.S. equities.
Coverage by U.S. Bank and Citizens Bank framed many of the macro linkages that drove rotations in 2025, stressing the interaction between rate expectations and small‑cap sensitivity (U.S. Bank, Citizens Bank notes, 2025).
Market milestones and notable statistics
Reporters documented multiple notable milestones during the period. For example:
- Several outlets noted that major U.S. indexes reached record or near‑record levels at different points in 2025, with particularly strong sessions tied to positive earnings and easing Fed expectations (The New York Times, MarketWatch, Dec 2025 reporting).
- There were episodes of double‑digit percentage moves within specific sectors (notably semiconductor and AI‑software names) and several single‑day large‑point moves in the Dow tied to headline news (CNN and MarketWatch coverage, 2025).
- Cryptocurrency highs were noted at multiple points and sometimes coincided with equity rallies, reflecting broader risk appetite shifts (AP News, Dec 2025).
Exact index values and dates were reported in the primary articles cited; readers seeking precise figures for a given day should consult the contemporaneous market reports or exchange closing data.
Analyst interpretations and controversies
Analysts published differing takes on whether post‑election market moves signaled durable fundamental improvement or speculative excess. Two central narratives appeared in reporting:
- Optimistic view: stronger corporate earnings, potential policy tailwinds and a path to lower rates justified higher valuations, especially for companies benefiting from AI adoption.
- Skeptical view: concentration of gains in a narrow group of tech stocks, tariff risks and stretched AI valuations suggested the market’s gains might be fragile and prone to reversals.
Sources such as The New York Times and CNN quoted fund managers and strategists on both sides of the debate during 2025 (NYT and CNN features, 2025). The diversity of views underscored the role of headline risk and the importance of looking at breadth and fundamentals, not just headline index levels.
Implications for investors
Reporting and advisory pieces in 2025 emphasized common, neutral guidance rather than prescriptive recommendations. Typical investor takeaways reported by Citizens Bank, U.S. Bank and market commentators included:
- Maintain diversification across sectors and market caps to manage concentration risk.
- Monitor macro indicators (inflation, payrolls, Fed statements) that materially affect rate expectations and equity valuation multiples.
- Be aware that AI‑led rallies concentrated in a small group of names may increase portfolio volatility.
- Consider time horizon and risk tolerance before taking tactical positions tied to headlines.
This entry does not provide investment advice. It summarizes the themes reported by major outlets and institutional commentators during the post‑election period.
Data, methodology and limitations
Sources for this summary include news reporting, market roundups and institutional commentaries through December 2025. Examples: CNN analysis pieces and timelines, The New York Times coverage of late‑2025 market rallies, AP News market reports, Investopedia market roundups (Dec 11, 2025), MarketWatch commentary, Washington Post analysis, and perspectives from U.S. Bank and Citizens Bank. Each citation used contemporaneous market data and press releases.
Limitations: market data are dynamic and numbers change daily. This narrative aggregates reported trends and notable dates but does not replace real‑time quotes or primary exchange data. Readers should consult original articles for precise index values on specific dates and seek up‑to‑date market data for trading decisions.
See also
- Presidential election effects on markets
- Federal Reserve and monetary policy
- AI adoption and semiconductor industry impact
- Cryptocurrency market movements
References (selected reporting)
As of the dates below, these outlets reported on the post‑election market dynamics summarized above:
- As of November–December 2024, CNN provided analysis of market reactions in the immediate post‑election window (CNN, Nov–Dec 2024).
- As of December 15, 2025, The New York Times reported on late‑2025 rallies and index milestones (The New York Times, Dec 2025).
- As of December 2025, AP News covered market swings and the intersection of equities and crypto (AP News, Dec 2025).
- As of December 11, 2025, Investopedia published a market roundup summarizing index moves and Fed implications (Investopedia, Dec 11, 2025).
- MarketWatch and The Washington Post offered commentary on tariff episodes and the sensitivity of certain sectors (MarketWatch, Washington Post, 2025).
- Institutional notes from U.S. Bank and Citizens Bank assessed small‑cap sensitivity and sector rotation drivers during 2025 (U.S. Bank, Citizens Bank, 2025 bulletins).
External resources and where to get live data
For live index quotes and official releases consult exchange closing data and Federal Reserve statements; for secure crypto custody and trading, consider Bitget Wallet and Bitget's trading platform for professional‑grade tools and risk management features. Bitget provides charting, order types and account security suited to both new and experienced traders.
Final notes and how to continue researching
If your immediate question is simply "what has the stock market done since the election", this article's main takeaway is: the market rose on post‑election optimism but experienced intermittent volatility driven by tariffs, AI concentration, Fed policy shifts and macro surprises — outcomes that repeatedly prompted sector rotation and single‑day swings. For precise index levels on a given day, consult primary market data; for secure trading or wallet needs, explore Bitget Wallet and Bitget’s platform resources.
To dive deeper, examine contemporaneous earnings reports, Fed minutes and the specific articles listed in the references above. For ongoing coverage, monitor major financial news outlets and real‑time exchange data.
Learn more about market tools, secure crypto custody and trading functionality on Bitget: explore Bitget Wallet and Bitget’s trading suite to track markets and manage positions.
