Dow Jones Sees Resurgence Despite Post-Election Trump Uncertainty
Today (Nov 9), the Dow is up 300 points and on track to close above its all-time high of 18,636.
Late Tuesday night (Nov. 8), when it seemed like Donald Trump would pull off the unlikely upset to become president over Sec. Hillary Clinton, the stock market had a knee-jerk reaction to the news. Dow futures dropped nearly 900 points overnight, as uncertainty of Trump's power loomed over the head of American citizens and Wall Street.
Trump's 3 a.m. speech seemed to calm the angst among people, that just maybe he could do this job the right way, and not follow through on some of his radical, extremist ways.
"The rhetoric that was talked about on the campaign trail was pretty scary. The nationalism and protectionism," said Art Hogan, chief market strategist at Wunderlich Securities. "But there's a big difference between what you say campaigning and what you do as president."
This is very similar to the market reaction of Brexit, which saw a sharp decline met with a quick rebound response. The Dow has since seen a soar Wednesday afternoon (Nov. 9), rolling over 250 points, reaching a near record-setting day.
Gear up America, this is only day one.