Donald Trump was named the victor of the 2024 presidential election and US stocks are booming on this news: the Dow Jones Industrial Average (^DJI) is seeing upside of over 3% at the market open today, with the S&P 500 (^GSPC) flying 1.9% higher and the Nasdaq Composite (^IXIC) seeing gains of 1.8% right beside it.

The financial sector (XLF) is blasting over, moving 5.5% higher at the day's start as Wall Street anticipates a second Trump presidency will greatly benefit the banking industry.

The Morning Brief's Brad Smith is joined by Yahoo Finance markets and data editor Jared Blikre in their analysis of movements in the market indexes, Russell 2000 (^RUT), Treasury yields (^TYX, ^TNX, ^FVX), and commodities.

Follow along Yahoo Finance's extensive coverage of the stock market reactions to the 2024 election results:

Stock market today: Dow, S&P 500, Nasdaq futures soar as Trump triumphs
Donald Trump has won the 2024 election. Here's what's next on 2 key economic issues.
Wall Street scores political victory with a Trump win: 'This should aid all banks'
Tesla stock soars by double digits after Trump win
DJT stock surges in premarket trading as Trump clinches election win
Here's how my 'Trump trade' is doing
7 'election trades' Citi is watching

To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.

This post was written by Luke Carberry Mogan.