Big Tech Stocks Gain Premarket After Trump Win -- WSJ

Dow Jones11-06

By Krystal Hur

Shares of big tech stocks advanced in premarket trading after Republican Donald Trump reclaimed the White House.

Tesla-headed by Trump ally Elon Musk-was the best performer among the Magnificent Seven group of tech giants, with shares popping 12%. Shares of most other Mag 7 members were up more modestly. Meta Platforms was the outlier, with shares edging lower.

Trump has backed a more "hands-off" approach with artificial intelligence. That has led some investors to bet the AI industry could flourish further under a Trump presidency.

Investors are also questioning whether Federal Trade Commission Chair Lina Khan, who has spearheaded antitrust battles against tech behemoths, will stay in her post.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

November 06, 2024 08:47 ET (13:47 GMT)

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