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The financial markets welcomed Donald Trump's victory in the US presidential election with a dazzling recovery.
That's despite considerable debate over how Trump's plans for tariffs, tax cuts and mass expulsions of migrants could affect the world's largest economy.
A week later, the increase finally seems to be stabilizing. The three major US stock indexes are on track to end the day lower, after rising about 5% since November 4, the eve of the election.
Here are some of the companies that stood out, as investors try to guess what the next four years might bring.
Tesla
Tesla shares have surged more than 40% since November 4.
The rally pushed the company's market value above $1 trillion for the first time since 2022 and increased the wealth of boss Elon Musk, who has a roughly 13% stake in the company, of more than 50 billion dollars.
That marks investors' bets that a Trump White House could relax some of the investigations by safety regulators into features such as autonomous driving.
The ties between Trump and Musk could also help Tesla navigate changes in relations between the United States and China, where the company has a large presence.
Although Trump is widely expected to cut government support for electric vehicles, such as tax credits, analysts say this could actually benefit Tesla, the market leader in the United States, making more difficult to catch up with its competitors.
Cryptocurrency
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The price of the best-known cryptocurrency, Bitcoin, surged more than 25% to new all-time highs this week on Trump's victory, briefly surpassing $89,000.
The gains are a sign that investors expect big changes for the sector, which has faced a crackdown under the Biden administration from regulators warning that it is rife with hucksters and fraudsters.
Trump also once called crypto a scam, but he changed his tune on the campaign trail this year, promising to make the United States the “crypto capital of the world.”
He said he would create a strategic bitcoin stockpile and fire Securities and Exchange Commission Chairman Gary Gensler, who had sparked anger by taking legal action against companies under current financial laws.
Crypto companies insist their sector should be subject to new, bespoke rules. That probably depends on Congress, where they might also get a friendlier hearing this year.
Banks
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Big bank bosses: (left to right) Charles Scharf of Wells Fargo, Brian Moynihan of Bank of America, Jamie Dimon of JPMorgan Chase and Jane Fraser of Citigroup
Shares of some of America's biggest banks have posted double-digit gains since the day before the election, with investors betting that financial companies will be among the most immediate beneficiaries of Trump's promises of lighter regulation.
Among other issues, it will now have a voice in shaping pending rules that will set the amount of cash banks must keep as a financial cushion.
Trump is also expected to part ways with Lina Khan, current director of the Federal Trade Commission, known for her anti-monopoly views and accused of casting a chill on deal-making, a key activity for banks.
Shares of Capital One and Discover, whose merger is being scrutinized by regulators, have jumped about 20% since the result.
Prison operators
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Shares of major publicly traded prison companies, GEO Group and CoreCivic, have surged more than 70% since November 4.
These gains speak to the big opportunity investors see for private prison operators as Trump promises to round up and deport millions of migrants.
In 2021, President Joe Biden ordered the Justice Department to stop doing business with private prison companies.
But Trump, who reversed a similar decision during his first term, is expected to change that policy and spur new business as he seeks help keeping his immigration promises.
Trump's first actions as president have focused on building the immigration policy team, a sign that will likely be a priority.
The dollar
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The dollar index is hovering at its highest level since April, rising more than 2% last week.
That's good news for American tourists traveling abroad — but a more mixed signal regarding the economy.
That's partly because the dollar's strength is closely tied to interest rates, which investors are now betting could remain higher than expected.
That partly reflects pre-election data suggesting the U.S. economy is stronger than previously thought.
But investors also see the risk that lower taxes, fewer immigration and new trade barriers will keep pressure on inflation, making the U.S. central bank more reluctant to cut interest rates.
Last week, the Federal Reserve gave little guidance on the coming months, saying it was too early to tell what impact Trump's policies might have.
