What Happened?
Shares of equipment rental company United Rentals (NYSE:URI) jumped 11.4% in the afternoon session after stocks rallied as Republican party candidate Donald Trump was declared the winner of the 2024 US presidential election. For industrials stocks, President-elect Trump is considered more pro-business and a defender of American industrial interests. This could generally lead to a more robust capital expenditures and investment environment.
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What The Market Is Telling Us
United Rentals’s shares are somewhat volatile and have had 11 moves greater than 5% over the last year. But moves this big are rare even for United Rentals and indicate this news significantly impacted the market’s perception of the business.
United Rentals is up 55.2% since the beginning of the year, and at $880.13 per share, has set a new 52-week high. Investors who bought $1,000 worth of United Rentals’s shares 5 years ago would now be looking at an investment worth $5,982.
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