Wall Street liked what happened in Tuesday’s elections, figuring that the Democrats who will now control the House can keep Donald Trump’s more destructive tendencies — on things like trade, for one — in check.Wall Street doesn’t know Trump.
The Dow Jones industrial average rose 545 points on Wednesday, to close at 26,180. And Tuesday’s overnight futures markets moved even more dramatically as the election results were coming in.
It looked like someone had put a yo-yo in traders’ hands.Wall Street is getting ahead of itself. If traders are expecting calm after the storm, they will end up being capsized.
For one thing, Trump won’t let a little thing like defeat in an election hold him back. This guy has been through embarrassing divorces, corporate bankruptcies, scandals and more scandals, and has always come out looking on the bright side of things.