This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

What you need to know today

Record highs
U.S. markets traded higher Monday. The S&P 500 closed above 6,000 for the first time and the Dow Jones Industrial Average hit a fresh closing high above 44,000. Asia-Pacific markets fell on Tuesday, breaking ranks with Wall Street. Hong Kong's Hang Seng index slumped around 2.8%, while South Korea's Kospi sank 1.9%.

Frenzy in crypto world
Bitcoin broke another record Monday, rising as high as $89,623.00, according to Coin Metrics. It's so much in demand that the iShares Bitcoin Trust, a bitcoin ETF, has surpassed the iShares Gold Trust, in terms of assets managed. Separately, the estate of crypto exchange FTX sued Binance and its former CEO, Changpeng Zhao, over a "fraudulent" share deal.

Musk is not a new Kissinger
Tesla CEO Elon Musk shares a close relationship with Donald Trump. He also has business dealings in China, where Tesla runs a "gigafactory."  Those twin interests have raised hopes in China that Musk can act as a new Henry Kissinger and mend U.S.-China relations. But experts caution that Musk is a businessman, not a diplomat.

Can't quit the addiction
State-owned China National Tobacco Corporation has seen sales surge even as tobacco use is declining around the world. Shares of China Tobacco International (HK), a Hong Kong subsidiary of the China National Tobacco Corporation, are up over 376% since its listing in June 2019, according to LSEG data.

[PRO] Global markets react to Trump
The U.S. stock market has experienced a hot rally following Donald Trump's impending return to the White House. Global markets and economies, however, were varied in their response to Trump's victory, because his policies could weigh on countries' industries and currencies.

The bottom line

The stock market is riding high on Trump's election victory.  

The S&P 500 ticked up 0.1% to close at 6,001.35, the first time it's ended the day above 6,000. Likewise, the Dow Jones Industrial Average, after adding 0.69%, closed at a record of 44,293.69, its first close above 44,000.

While Tesla's rally sees no signs of stopping — shares popped almost 9% yesterday — other tech giants such as Apple and Microsoft have seen shares slip.

That caused the Nasdaq Composite to underperform the S&P and Dow. The tech-heavy index eked out a 0.06% gain.

The postelection stock rally, however, is likely to stay strong for now.

"The Republicans' decisive win has ignited 'animal spirits,' despite already lofty expectations," wrote Morgan Stanley Wealth Management's Chief Investment Officer Lisa Shalett in a Monday note.

But whether the good vibes are the healthy flood of endorphins after a run, or the alcoholic buzz that will lead to a hangover, is still an open question.

Amid such uncertainty, investors "could well benefit from practicing patience and avoiding jumping to conclusions as to how the election outcome will affect the markets," wrote John Stoltzfus, chief investment strategist at Oppenheimer Asset Management.

"We favor broad diversification tuned more to cyclical and secular trends that remain in place for now," he added.

Likewise, Shalett advocates a "balanced stance" for investors, and cautions they avoid jumping to conclusions on whether the surge in stocks is signaling stronger economic growth.

So, it remains to be seen if the rally will fizzle out once the initial election euphoria wears off, or if the market frenzy portends a longer-term phenomenon.

It's hard to go wrong following the age-old rules for investing in the stock market: Be in it for the long term, diversify and look at fundamentals like earnings and valuation.

— CNBC's Brian Evans and Alex Harring contributed to this report.