Wednesday’s trading session saw the S&P 500 and Dow Jones Industrial Average hitting record highs, driven by investor optimism following the election of Donald Trump as the 47th U.S. president. The S&P 500 index climbed 2.5% to 5,929.04, while the Dow soared over 3.6% to 43,729.93, marking its biggest single-day gain since November 2022. The tech-heavy Nasdaq rose nearly 3% to end Wednesday’s session at 18,983.47.

Arm Holdings closed the day up by 2.87% at $144.68, with an intraday high of $146.06 and a low of $141.01. The company’s 52-week high and low are $188.75 and $49.82 respectively. Arm reported second-quarter revenue of $844 million, beating analyst estimates, driven by record levels of royalty revenue. The chip designer also reported adjusted earnings of 30 cents per share, surpassing analyst estimates.

Coinbase shares surged 31.11% to close at $254.31, with an intraday high of $257.68 and a low of $221.11. The company’s 52-week high and low are $283.48 and $84.3 respectively. The cryptocurrency exchange is expecting to see a leadership change in the SEC as early as April or May 2025, following historical patterns.

Lyft shares rose 4.35% to close at $14.40, with an intraday high of $14.53 and a low of $13.78. The company’s 52-week high and low are $20.82 and $8.93 respectively. Lyft announced new autonomous vehicle partnerships to offer future autonomous vehicle rides through the Lyft app, in a strategic alliance with Mobileye Global Inc.

IonQ shares increased 7.2% to close at $16.45, with an intraday high of $16.83 and a low of $15.85. The company’s 52-week high and low are $18.20 and $6.22 respectively. IonQ reported third-quarter financial results with total revenue up 102% on a year-over-year basis, achieving $63.5 million worth of new bookings in the third quarter.

Tesla shares jumped 14.75% to close at $288.53, with an intraday high of $289.59 and a low of $275.62. The Elon Musk-led company’s 52-week high and low are $289.59 and $138.8 respectively. Analyst Dan Ives is optimistic about the impact of a potential Trump win on the Tesla stock.