Fast Tech News on November 7, early this morning, US stocks opened and closed higher, with all three major indices setting new record highs.

The Dow Jones Industrial Average rose 3.56%, the Nasdaq Composite rose 2.95%, and the S&P 500 Index rose 2.53%. Tesla surged by more than 14%, hitting a new high since July 2023.

According to Forbes' list of billionaires, Tesla's surge increased the net worth of the company's founder and CEO, Elon Musk, by $20.9 billion in a single day, bringing his total assets to $285.6 billion, far surpassing Jeff Bezos, who ranks second on the global billionaire list.

Analysis suggests that given Musk's support for Trump, Tesla will be one of the main beneficiaries of Trump's return to the White House.

In Trump's victory speech, he mentioned Musk 11 times in just 3 minutes, even praising him as a "super genius" and emphasizing, "We must protect such geniuses" because there aren't many like them in the United States.

Previously, Musk had spent over $132 million to support Trump, likely hoping that the new administration would ease regulations on Tesla, especially those related to autonomous driving technology.