Stocks and Bonds Rally After US Election as Oil Prices Slide — US Market Wrap

A Democratic sweep of Congress that underlined opposition to the Iran conflict exacerbated this week's drop in oil prices, propelling equities and bonds to significant post-election gains. The S&P 500 rose 1.6%, the most since August, with Microsoft, Amazon, and Apple leading megacap advances of more than 5% apiece. Treasury yields fell throughout the curve. The dollar has fallen the most in two months. Bitcoin surpassed $80,000. Brent crude fell over 10%, reaching below $100. Support for stocks investors largely shrugged off the political uncertainty, maintaining confidence that key drivers of US economic growth, including consumer spending and the artificial-intelligence boom, would remain resilient. Meanwhile, political gridlock could limit further government spending and reduce pressure on bond markets, potentially providing additional support for equities. Meta raised €9 billion during its inaugural euro currency bond auction, which attracted a record €53 billion in orders.