On November 8, The United Stated finalized its Presidential election as unknown controversial Republican, Donald J Trump, was elected 45th President of the United States. He shocked the nation as he picked off Democrat strongholds to secure his victory.
As the world pondered the effect that his policies would have on the economy, global markets plunged in the hours after trading. However, when the Markets opened the following Wednesday morning, the Dow Jones Industrial recovered and surged as much 250 points. It’s not all uncommon that the market corrects itself after Investors calm down and look at the future. By Thursday afternoon, the stock market continued to move forward with reaching record high numbers.
Warren Buffet on CNN committed that rumors of the market plunging was silly and went as far to say “the country will be fine regardless what President is elected”.
The market in the Construction and Financial sector showed a lot of positive movements. United Rentals (NYSE: URI) was up 17% since Tuesday. Trump has pledged as much as $1 trillion dollars to rebuild infrastructure. If he can keep his promise, investors understand that there’ll be lots of work for construction companies. That’s not all, Financial Giant Wells Fargo (NYSE: WFC) is up 7.7% as investors hope to cash in on his less regulation position. Unfortunately, it’s not all positive. The Technology and Renewable energy sector has suffered a bit – due to criticism by Trump. Investors had some worries about with Tech Companies as they have the most to benefit from free trade agreements. Good or bad, the uncertainty is now over and the market now seems to be moving forward.