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Trumped Again: The DOW Opens to New All-Time Record High

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The Dow Jones industrial average hit a new all-time intraday high shortly after the open, and traded more than 150 points higher,

The S&P 500 gained nearly 0.8 percent, with financials rising more than 3 percent to lead advancers. Bank stocks also soared, with the SPDR S&P Bank ETF (KBE) rising more than 5 percent to its highest level since September 2008.

The Nasdaq composite gained 0.9 percent, with the iShares Nasdaq Biotechnology ETF (IBB) ripping more than 3 percent higher.

As we previously reported, when  it began to sink in  that Donald Trump had once again defied almost all the expert opinions and was about to become the President-elect financial markets, like all of The Donald’s opponents, were Trumped.

At first, the markets tanked, declining further with each state called for Trump. The Dow Jones industrial average futures slid more than 700 points, or more than 4 percent. But as NPR reported, after Trump was declared the winner, Hillary Clinton phoned in her concession and Trump gave his Presidential-like victory speech, the markets calmed. By morning, Asian Markets were off 5 percent, but European markets closed up and by midday Joe Cunningham reported the stock market bounced back.

The Dow Jones industrial index hit actually hit an all-time high Wednesday, reversing the  massive drop triggered by President-elect Donald Trump’s improbable win. According to the Hill article, Wednesday’s market surge reflects the promise of business-friendly, growth-focused policies from Republicans, who gained control of the White House and maintained control of Congress.

It’s open to debate, but I credit this rally to conciliatory speeches from both Donald Trump and Hillary Clinton and  the potential for growth policies to be put forward with Republicans controlling the White House and Congress.

The post TRUMPED AGAIN: The DOW Opens to New All-Time Record High appeared first on RedState.


Source: http://www.redstate.com/california_yankee/2016/11/10/trumped-dow-opens-new-time-record-high/


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    • Rockledge

      Once again proving our corporate propaganda social engineering media to be liars.

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