Tesla and a handful of other so-called Trump trades led the market rally this week as investors welcomed the Republican’s victory in the presidential election. The S & P 500 has climbed more than 4% since Monday began, touching above 6,000 and on track to notch its best week in about a year. These gains came as traders focused in on the outcomes of Tuesday’s presidential election and Thursday’s interest rate decision from the Federal Reserve. Excluding stocks that reported earnings this week, some of the best performers were those viewed as tied to Donald Trump ‘s win. Trump trades can earn that title by being part of sectors such as financials or energy viewed as beneficiaries of his expected shifts away from regulation, among other things. CNBC screened for the Trump trade names that led the index higher this week and did not report earnings. Here are the top performers, as of Friday before the bell: Tesla led the way with a gain of 19.3%. The electric vehicle maker is one of the best-known Trump trades given CEO Elon Musk ‘s advocacy for the president-elect on the campaign trail. The stock, which touched new 52-week highs this week, is now up more than 27% in 2024. This week’s rally propelled the Texas-based company’s market cap above $1 trillion on Friday. Many on Wall Street expect a pullback, with the typical price target of analysts polled by LSEG implying shares can tumble more than 29%. But Bank of America analyst John Murphy raised his price target to $350 from $265, which now suggests upside of 17.9%. Murphy cited Musk’s connection to Trump as one reason for the change. He also reiterated his buy rating, putting him in the majority on the Street. “Our analysis has shown that TSLA should be relatively indifferent directly to most policies discussed in our recent election note, but may benefit from a shift to a federal regulation of autonomous vehicles/full self-driving (FSD) nationwide,” Murphy wrote. “In addition, it is difficult to judge how Elon Musk’s increasingly close public relationship with President Trump could benefit Tesla, but this needs to be monitored closely.” “We believe these factors, and potentially others, should support TSLA’s growth trajectory and thereby the higher earnings multiple,” he added. TSLA 5D mountain Tesla, 5 days Discover , meanwhile, is an example of a financial stock that has rallied along with the sector. Shares climbed more than 15% this week, bringing its year-to-date gain above 55%. But Wall Street is wary looking ahead. The average analyst expects shares to fall around 12% and has a hold rating, according to LSEG. Baker Hughes was one of the best energy stocks this week with a jump of nearly 14%. It is now on track to end 2024 up more than 25%, which would mark its fourth straight winning year. Following this run, the average analyst surveyed by LSEG sees the stock gaining slightly under 3% over the next year. Most analysts have buy ratings on the stock. Correction: Tesla shares returned to a $1 trillion market capitalization on Friday.