New York CNN — US stocks rose sharply Wednesday morning following a decisive and consequential victory for former President Donald Trump in Tuesday’s US presidential election. The Dow soared 1,309 points, or 3% in morning trading, reaching a new high. This is the first time the Dow has gained more than 1,000 points in a single day since November 2022. If the Dow maintains its implied gains throughout the trading session, it will mark the sixth-best point gain ever for the index — but nowhere close to a record percentage gain.
The S&P 500 and the tech-heavy Nasdaq both rose by 1.9%. Markets were mostly juiced by the fact that the election was decided relatively quickly. The election — and the widely held belief that Trump and his allies could contest the result in courts — has served as a cloud over the US economy and stock market in recent months. Markets, in particular, crave certainty, and the clear path forward will allow companies to adjust their business and hiring plans. “There’s clarity: We’re not going to see another January 6th event. The market is breathing a huge sigh of relief on that,” said Michael Block, chief operating officer at AgentSmyth. “The mainstream consensus was that we weren’t going to know. And we know.”
But stocks may also be reacting to Trump’s victory, in particular. Trump flipped several swing states from President Joe Biden’s 2020 victory, and Republicans also took control of the Senate. Several key House races remain undecided. A so-called red wave could usher in an era of deregulation and other pro-business laws and policies that investors believe could benefit the stock market. “There is this huge perception of business friendly, tax-friendly regime coming into place, especially with them winning the Senate,” said Block.
JPMorgan analysts predicted in a report ahead of Tuesday’s election result that under a “red wave,” stocks stood to gain through the end of 2024, but “the uncertainty around policy execution would become more prominent in 2025.”
https://www.cnn.com/2024/11/06/investing/dow-stock-market-trump/index.html
Comment: Well, Wall Street’s happy. The dollar surged as well. The real shocker is that it looks like Trump also won the popular vote. That hasn’t been done by a Republican in decades.
Trump’s message of the country is going to hell in a hand basket and he alone could fix it sold well across the country. Harris’ message of more of the same fell flat. The American people apparently do want to go back. Now we’ll see if mass deportations and wholesale tariffs can please the masses. Who knows. Maybe it will work. At least there won’t be another January 6 debacle.
One mystery I see is the story of record voter turnout and 20 million fewer voters. And that’s in an across the board well secured election. Someone was full of crap. Maybe that will settle out in the next few days.
TTG
“At least there won’t be another January 6 debacle.”
And just like that voter fraud ended with a GOP landslide.
https://snipboard.io/EsgxLK.jpg
And just like that voter fraud ended when Dinesh D’Souza exposed ballot harvesting mules using pattern of life filters and geolocation datasets.
Condottiere,
That mule documentary was exposed to be bullshit long ago. And the most recent ballot count is little different from the 2020 race. Once again, there’s no evidence of voter fraud in either election other than a few isolated cases, bipartisan cases at that.
Condottiere,
Sure.
And Nevada, Arizona, Montana, and Missouri, which are all giving Trump their electoral votes, really voted against Roe 2.0. as well.
I am reminded of the old adage that you should be careful with what you wish for. It was quite obvious the first term that Trump is not competent for the job. Now the question will be what he learned the first time.
Lars,
To clean house and bring in outsiders, like Musk, that is the lesson. All directors, Deputy Directors and the next level down must be purged and replaced with business and freedom minded patriots.
It was quite obvious from his first term that Trump is good for business and good for world peace. Wall Street clearly agrees. The business of America is business. Let it roll and we’ll all be fine – except the commies and race baiters among us.
TTG,
In all seriousness, the Democrats loss of 20 million votes – without Trump gaining them – really is peculiar.
I know with a high degree of certainty that the Trump team was aware of how election cheating may have been performed in 2020 and that they took several measures to keep it to a manageable level, if not eliminate it entirely, this year. Was the loss of 20 million votes due to that effort? Due to Democrat apathy, given Harris? Some mix of the two? Some other factors? It will be interesting to see objective postmortems on the topic.
It will be interesting to see how things go without Trump having rational thinkers around him like he did the first term. A large chunk of those people, who saw Trump for who he was, campaigned against him.
I will be waiting for Trump’s lawsuits proving that the election was rigged. If not, he owes the American people a huge apology.
What people fail to realise is that he has no real policies and beliefs of his own, although those backing him certainly do. When Trump says “Make America Great Again” he is talking about his one sole heart felt belief. That his presence as the leader of the US is the ONE thing that makes this country great.
Beginning of February Trump will announce a movement to repeal the 22nd Amendment of the US Constitution that bans US Presidents from serving only two terms. The ONLY way to keep America great is with Trump in power.
Stefan – “Rational thinkers around him like… the first term”???
Trump threw out Christie’s lists of nominees (stacked with trad GOP ideologues), choosing Cabinet and Advisors based primarily on personal loyalty, regardless of experience, knowledge, etc., and then wound up firing most of them pretty quickly (highest turnover in Cabinet ever?). IMO, Trump’s managerial incompetence is the only thing which saved us from his “policies”.
In 2016, the GOP Big Money didn’t support him – they invested in Senate and House races instead. They were as surprised as everyone else that Trump won.
This time, those Big Donors – and their Think Tanks – have actively supported Trump. The question now is whether Trump “learned how to govern”, or whether he will even bother this time.
Frankly, I don’t expect him to pay much attention to actually running the government. It’s hard work, and only “fun” for hard-core Wonks who really care about Ideology and Policy. Also, Trump is obviously older and mentally wobblier than he was even a year ago; I expect Vance to become President before 2028, one way or another.
IMO, Project 2025 was the GOP Think Tank’s way of getting Trump to go along with installing *their* people in the Federal Bureaucracy. Within a few months of Inauguration, the list of actual appointments will tell us who’s in charge: Trump, or the GOP Donors. My first guess is that Trump will get to put Musk and Kennedy in the Cabinet, but neither will last long (both lack the skill or persistence to win a Pawn Game).
Stefan,
You forgot the /s tag.
Stefan,
At least we don’t have to hear the foreign born agitators, like you and Lars, going on about eliminating the electoral vote process.
Election rigging was stopped this year based on learning from 2020. That is a reason why Harris was some 17 million less than Biden while Trump remained more or less the same.
Your sour grapes and ill wishes amuse us. The people have spoken and part of what they say is that they reject your world view. What’s funny – just one of the funny aspects – is that even your Muslim buddies, in places like Dearborn, MI, rejected your world view and either voted Trump; or at least abstained from voting Harris. You are out of touch; on the fringe. Either grow out of it or get used to losing.
You’ll understand “my drift” Eric as I’m certain you’ll know Arkansas’ been hit with fourteen inches of rain since November 2nd:
https://babylonbee.com/news/flash-flood-warnings-issued-liberal-tears-continue-soak-nation
I think we’ll recover so long as we can wait out for the January 20th version of FEMA though. Which I think we can. Handily.
JK/AR,
Hang in there. Glad you know you can make. I’m sure y’all are indeed a tough crew.
Yes, a federal government more interested in its own citizens, as opposed to Soros’ and the UN’s hordes that stretch from the Darien Gap to Burlington, Vermont is on the way.
Resistance to Trump is being called for
by, what else, the Washington Post:
“The second resistance to Trump must start right now.
He will probably be even more
extreme, cruel and radical in his second term
than he was in his first.”
by Perry Bacon Jr.
https://www.washingtonpost.com/opinions/2024/11/06/second-trump-resistance/
My response:
Just who are you calling extreme and radical?
What is extreme or radical
is a function of the eye of the beholder.
In my view, the Washington Post itself rather often pushes radical policies,
calling them “progressive.”
For example,
the normalization of transgenderism, and
supporting massive immigration from Third World countries and societies which is radically transforming the demographics, and ultimately the culture, of the West.
Also criticism of whites, men (toxic masculinity) and heterosexuals (who get called “homophobes”).
What do all these things being criticized have in common?
Commonality with the Nazis.
The Nazis were racist, sexist and homophobic.
It seems the agenda, and goal, is to demonize anything connected to the Nazis.
For yet another example of this,
see how and why Nobel Prize-winning physicist Robert Millikan was demonized by the college he had done so much to support:
https://www.caltech.edu/about/news/caltech-to-remove-the-names-of-robert-a-millikan-and-five-other-eugenics-proponents
Keith,
And the Audobon was built by Nazis. Super highways are Fascist! Take the back roads in your EV to signal that you are not a Nazi!
The copium is strong here today.
“One mystery I see is the story of record voter turnout and 20 million fewer voters.”
Don’t think “2020 was stolen”. Better not ask where 15,000,000 ballots went. Biden was always more popular that Barack
Has Prime Minister Starmer issued an apology for his foreign secretary stating publicly that the now president elect was a KKK racist supporter of nazis? Or does the man leading the body holding the sovereign power of the king need a call from the actual king to do so?
The market is up? Looks like no one is going to get taxed on unrealized capital gains. Or tips. Who cast the tie-breaking vote for taxing those? I wonder who remembered that on election day?
“Harris’ message of more of the same fell flat.”
Peanut showed us just what the government would do when ‘following procedures’ because some Karen from out of state called in complaints. So yes, more of that fell right, ‘far right’, on election night.
“The real shocker is that it looks like Trump also won the popular vote.”
Time for reaching across the aisle: End the filibuster, pack the court. It’s what Kamala asked for after all. Give them what they want, good and hard.
Pelosi and Schumer (and McConnel) are done as national leaders. They burned their credibility and political capital for the ‘first ever…’ instead of a candidate who was competent. And did so in the worst way possible. Joining them on the list of careers coming to an end: Tim Walz, Liz Cheney, pollsters galore, legacy media news anchors, NYT, Hollywood (when are they leaving this time) celebrities, lots of lawyers – starting with Leticia James (doesn’t she know she has to respond to (new admin) DOJ subpoenas? Fanni Willis – here’s looking @ you kid!
Zelenski, but who believes the Russians when they say –
” Ukraine’s army chief to recall troops from Russian region – Ukrainian MP”
https://x.com/RT_com/status/1854218439595843627
Oh, did you notice the German government looks like it is collapsing? Might be good to look what is happening in Japan now too.
One last loser: Barack Obama. What was black turnout for the orange man? He’s going to be remembered for personal charisma and division.
Fred,
The earlier reports of 20 million fewer voters must have referred to ballots counted at that time. They’ve been counting throughout the day and are still counting in some states. Here’s figures from late this afternoon.
“U.S. voter turnout on Nov. 5 is projected to be around 65 percent, with more than 158 million ballots counted, according to data from the University of Florida’s Election Lab. That number is a dip from the 2020 U.S. presidential election, which registered a historic 67 percent turnout.”
total for 2020 66.38%. 159,738,337
total for 2024. 64.52%. 158,549,000
By the time all ballots are counted, it should be pretty close. Doesn’t look like a damned thing was stolen.
The market is up right now because there won’t be any drama from now until January 20, along with real likelihood that a lot of business regulations will disappear and corporate taxes will go down.
2004 Kerry – 59M
2008 Obama – 69.5M
2012 Obama – 65.9M
2016 Clinton – 65.9M
2020 Biden – 81.3 M
2024 Harris – 66.4M
Pattern recognition and being able to pick the thing that doesn’t belong are standard concepts on IQ tests.
Eric Newhill,
The Biden win was in the midst of Covid killing tens of thousands, the lockdown and economic collapse. Of course 81 million voted for the other guy. Four years later and everyone forgot about Covid, the lockdown and economic collapse.
The total ballots cast were fairly consistent.
TTG,
“U.S. voter turnout on Nov. 5 is projected to be around 65 percent,
…
That number is a dip from the 2020 U.S. presidential election, which registered a historic 67 percent turnout.”
Seems like I will be a guy who says it first here. My wildarse guess is that 2 percent are anti-Trump Republicans who voted for Biden in 2020. They sat out this election because they don’t want to elect Kamala Harris, a non-white woman.
Fred,
I’m still pissed off about PNut and your namesake racoon (for real).
I’d like to think that their deaths were not in vain; that just maybe they helped tilt the vote in favor of a man who doesn’t work for a cold soulless technocracy that seizes innocent beloved creatures in the middle of the night, to take them to the gas chambers.
Keith Harbaugh,
“My response:
Just who are you calling extreme and radical?
What is extreme or radical
is a function of the eye of the beholder.”
That said it all. Half of the country call the other half “extreme or radical” and vice versa.
“The Nazis were racist, sexist and homophobic.”
Yes.
“It seems the agenda, and goal, is to demonize anything connected to the Nazis.”
The Nazis should be eradicated, no need to demonize them.
TonyL,
Um, maybe you missed it, but the Nazis were eradicated way back in 1945.
The socialists, who have proven even better at mass murder, individual and societal destruction are still alive and well; with plenty of fan boys and girls.
Daniel Davis on one side of the foreign policy implications of the Trump victory:-
https://www.youtube.com/watch?v=grYFIZ4x0AM&ab_channel=DanielDavis%2FDeepDive
Very realistic, very pragmatic. It would be great if the conflict could indeed end with an agreed settlement between the US and Russia, as the clip at the start indicates. But it’s a long time to the inauguration and in any case one Russian condition for a settlement, as set out by Putin not long back and set out again by Lavrov in the Newsweek interview, is the lifting of sanctions.
President-elect Trump would have to be a magician to be able to get that done. So I believe we’ll end up instead with an imposed settlement of the Ukrainian conflict, imposed by the Russians according to the terms set out by Putin in February 2022 but now with territorial adjustments as well.
That issue aside, I hope it’s OK for an outsider to wish the Americans well with their choice. The European politicians currently in power will have long faces, but there are plenty all over Europe will feel, as I do, that it was time to be rid of the neocons.
Or rid of the “Borg”, as the Colonel used to term the current Washington foreign policy establishment. Has there been just one single instance of Biden and his Europoodles getting Western foreign policy right? I can’t think of one. America is well rid of such and it’s our loss this side of the Atlantic that Europe won’t be.
EO,
Don’t count on Trump remaining buddies with Putin. He no longer needs his good will and may not drop Ukraine as you hope once he gets in office. He’s going to pushing American oil and gas and certainly doesn’t want Russian oil and gas to be depressing prices.
EO,
“that it was time to be rid of the neocons.”
I think you will be disappointed. I predict the 2nd Trump administration will be just like the 1st, infested with neocons, just like with Biden’s administration.
One reason why Trump will not get too close to Putin is that if he ends support for Ukraine, a lot of wealthy ammo makers will be very upset and many of their buddies can be found in Congress. Trump will as usual get his “honeymoon”, but I don’t think it will last long. A lot of people liked the way he talked. Now he has to deliver and he has no idea about the consequences, or ability to understand them. I know that there are those who consider him a Messiah and he likes that, but if the miracles fail to materialize, the tarnish will set in. When he won the first time, we had a guy around here who was all gaga about him and wrote a post about what would happen. I saved a copy and found out over time that none of it came to fruition. As that unfolded, he did not last long around here either. The federal government is a very complex entity and few know how to manage it. Trump has already shown us that he can’t and an older version of him much less. It will be interesting to see him set his goon squads on immigrants. All those Latino hombres who voted for him may very well soon regret it, as just looking Latino will attract attention.
TTG..Your Comment Someone was Full of Crap….That Smells True…I Suggest We call Gutfeld…The Poo Detective….
Otherwise…Im Also Watching The EU..Leaders and Other House of Sod…The See
Just how Far the “Alternative For Dutchland” Effect Will Go Now.. I Think I can
See That RED Line Now…It Circles The Earth Like the Fault Lines.. Wait Wait..
Yes…The New Worlds Really Under Antartica…Maybe ever the YMCA,,
Jim