Markets surge, Dow hits record high after Donald Trump wins U.S. presidency

“U.S. stocks rallied Wednesday, with the Dow industrials jumping 257 points, led by a surge in financial, health-care and industrial stocks, as investors bet on the infrastructure spending policy promised by President-elect Donald Trump,” Anora Mahmudova and Carla Mozee report for MarketWatch. “”

“The Dow Jones Industrial Average gained as much as 316 points, briefly surpassing the all-time closing high set in August. The index closed 256.95 points, or 1.4%, higher at 18,589.69, its highest level since Aug. 18. Pfizer Inc. and Caterpillar Inc led the gains, rallying more than 7%,” Mahmudova and Mozee report. “The S&P 500 index ended up 23.70 points, or 1.1%, at 2,163.26, as big gains in health care, financials and industrials more than offset sharp losses in defensive sectors such as utilities and consumer staples. The iShares Nasdaq Biotechnology ETF was one of the clearest winners, surging 13%.”

“Meanwhile, the Nasdaq Composite advanced 57.58 points, or 1.1%, to 5,251.07. Technology stocks in general were weaker, with uncertainty of trade policies hanging over global giants like Apple Inc,” Mahmudova and Mozee report. “The Russell 2000 index RUT, +3.10% outperformed the large-cap index, soaring 3.1% to 1,231.20 on Wednesday…”

Read more in the full article here.

MacDailyNews Take: After a bit of a wobble, the ship rights itself.

SEE ALSO:
Five tech issues to watch under President Trump – November 9, 2016
Donald J. Trump elected 45th president of the United States – November 9, 2016
Apple CEO Tim Cook smartly maintained ties to GOP ahead of Trump victory – November 9, 2016
Apple could be able to pay just 10% tax to repatriate overseas profits under President Trump’s plan – November 9, 2016
Why Donald Trump bests Hillary Clinton on key tech policies – November 8, 2016

41 Comments

    1. This is the biggest story since the election of Ronald Reagan changed the world. You’re about to see what a real “change agent” can do! Enjoy!

      President-elect Donald Trump discussed the conversation he had with his wife Melania before deciding to run for president in an interview with The Washington Post in April 2016.

      “She said, ‘We have such a great life. Why do you want to do this?’” Trump said. “I said, I sort of have to do it, I think. I really have to do it.”

      Melania didn’t want her husband to run, but not for the reason you might expect. She reportedly told him: “I hope you don’t do it, but if you run, you’ll win.”

      USA Today, Nov. 9, 2016: Obama era goes down in flames.

      1. Fwhatever, you and your ilk are fooling yourselves. The claim that this anger-fueled election has somehow displaced the “establishment” is utter nonsense. The vast majority Republican establishment simply flipped based on the results of the election – political party hypocrisy at its finest. If the results had been different then the GOP would have torn itself apart with infighting.

        This is *not* a “populist” win or anything like a “mandate.” The results of the election were a modest electoral college victory fueled by a loss in terms of the popular vote. Enjoy the win, but do not lie to yourself or others. The majority of the people desired a different outcome. And even the supporters do not believe or want much of what was promised during the election. The Republican party was the beneficiary of long-term, pent-up frustration, but the GOP was a major contributor to that angst. With the exception of a few people, the federal machine will continue grinding along. Presidents come and go.

        You may be glad to know that you will see very little from me on this forum in the future. FoxMDN has been on a long downward spiral and my fellow veteran Mac advocates have gradually departed due to the vitriol and politicrap on this forum.

        Political rants are available everywhere. I don’t need to come here to read extremist nonsense. And Apple/Mac news is available elsewhere.

        You may be partying now. But karma wins in the end.

        1. “This is *not* a “populist” win or anything like a “mandate.”

          Oh really? Obvious you have not read The New York Times, Wash Post, LA Times, USA Today or watched CNN or Fox the last two days. That is exactly what happenned!

          Record number of voter registrations in some states, more Democrats crossing over in several states like Pennsylvania and Ohio either registering as Republicans or simply staying a Dem and voting Repub. Another: Trump set an all-time RECORD number of Repub primary voters.

          Not a “mandate,” really? All huge wins for one party are a mandate. Think Obama 2008 and how he went on to govern by executive order under the same, but flip circumstances — Dem WH, Senate and Congress back then. Pennsylvania just elected the largest Republican Senate majority in the history of the second state is just one of dozens of examples across the USA.

          “The results of the election were a modest electoral college victory …”

          Really? My neighbor is a lifelong liberal Democrat in his sixties and Editor of the local newspaper. They endorsed Hillary as most papers across the state. Spoke with him yesterday and he was still shell shocked. This is how he summed up Trump’s win, “blowout.”

          “You may be glad to know that you will see very little from me on this forum in the future.”

          Well, you would save me time reading clueless and cranky opinion, devoid of facts, that lives on only in your mind.

          You’ll have more time then to watch MSNBC, read Huff Post, Village Voice, etc, etc.

          Adios, and happy trails … 😎🌵🐴

        2. Voted down for false statements and for using the lame phrase “you and your ilk.”

          “The results of the election were a modest electoral college victory…”

          False. It was an electoral college blowout. Trump:306, Hillary:232.

          “…fueled by a loss in terms of the popular vote.”

          False. CNN is reporting that, after all the votes are counted, it is likely that Trump will have the popular vote, too.

          “…but do not lie to yourself or others.”

          That’s ironic coming from you after your falsehoods above.

          “You may be partying now. But karma wins in the end.”

          This IS Karma.

  1. The mainstream media cost Hillary this election. The more ridiculously frantic and fanatic they became, the more obvious was the corruption, collusion, and bias. Whatever the mainstream media says, believe the opposite. And THAT translated directly to, whatever Clinton (or Obama) says, believe the opposite.

    1. Not exactly.

      As flawed a candidate as Trump was, he had his finger on the pulse. The polls were off because nobody wanted to admit that they were going to vote for him. But it’s a populist revolt and a lot of people believed in Trump’s message: too much regulation, too much government. The whole thing is a bunch of guys getting rich on Capitol Hill and not paying attention to the people who elected them. They stay in Congress a couple years, then move on to K Street and call on the same people who replaced them.

      Hillary was the status quo and one of the most flawed candidates in history. This is a complete repudiation of President Obama, the man who pushed Hillary and deemed Trump a clown.

      She is a weak campaigner with a documented history of unsavory dealings. She is declared unlikable by 55 percent of the electorate and untrustworthy by 67 percent… When the director of the F.B.I. laid bare her gross negligence for arrogantly setting up her own email system while secretary of state and announced there would be no prosecution, you could hear the heavens thunder for justice. Not since O.J. Simpson had someone so obviously guilty by the facts, walked away. A separate investigation tying Clinton Foundation contributions to speeches made by Bill adds to the pungent aroma of shiftiness and entitlement that routinely hovers above them. Bill only adds to it with his surprise thirty-minute visit to the attorney general on the tarmac at the Phoenix airport, a stunt even a first-year law student knows is verboten. The D.N.C. thought it was lining her up with a weak sparring partner she could destroy, marching into Philadelphia with momentum and money for the general campaign. Whoops.

      After months of chatter about the implosion of the Republican Party, we are instead witnessing the obviation of the Democratic Party.

      Trump voters did the country a service. Anybody but Clinton.

      The Clintons remind me of the Universal horror movies where you thought the monster was dead and then the monster would show up in a bad sequel. I’m glad now that they’re finally gone.Kevin Dowd via The New York Times, Nov. 9, 2016

      1. I don’t disagree with any of that… but that’s an opinion piece, not mainstream media coverage of “news.” 🙂 If the mainstream media had not become so obviously the one-sided propaganda arm of the Democrats, perhaps Hillary would have won… Trump exposed the extreme media bias for EVERYONE to see. Even before inauguration day, Trump has that significant accomplishment. For decades to come, no one will take mainstream media coverage of the “real world” seriously; they’ve most all of their power and influence.

        1. “Perhaps Hillary would have won.” That’s not “news,” either. That’s opinion, too.

          The country was sick and tired of the establishment which the Democrat candidate embodied to perfection. She would have lost regardless, media or no media, good journalism or the current incestuous, unprofessional, biased MSM. The mainstream media is part of the establishment. Trump was the anti-establishment candidate.

          This was a change election (watch out Germany, France, and the EU – you’re next). The media couldn’t get Crooked Hillary elected no matter how hard they tried. And, they certainly tried hard! Having them try less wouldn’t have helped her look less like the personification of the establishment. The multi-millions Hill and Bill reaped from Wall Street, the Saudis, etc. was more than enough to tag them for what they are (were).

          Yes, the media wildly overplayed its hand and that woke up many people finally, which is a great thing! I’ve been saying the media is biased for years and, until recently, people actually would argue with me – including on these pages. Not any more – it’s obvious I was right. The journalism profession needs to get its house in order or die.

          By the way, Trump outperformed Romney with Latino voters. Anyone listening to the mainstream media establishment would never have believed that to be possible.

            1. While the Berlin Wall technically fell on the 9th, its observance was deliberatively moved to 3 Oct (Reunification Day), so its not that one.

              For the rest, its essentially “All of the Above”.

          1. Here’s ANOTHER way the mainstream media cost the Democrats the presidency (and a potential takeover of Congress too). During the primaries, they actually pushed Trump; they were biased FOR Trump. It think they (and their DNC handlers) wanted Hillary’s opponent to be Trump, because Trump would mean an easy victory for Hillary…

            Unfortunately for the Democrats, Trump was THE one Republican candidate who did not fear the mainstream media. He went out of his way to discredit them as the “most dishonest people in the world.” He mocked them at rallies and dared them to “show the huge crowd.” After a while, as they became ever more desperate and biased, the general public became mostly numb to what the “Clinton New Network” said or did. The mainstream media lost influence and became a joke.

            If they had reported the news without bias (or at least less obvious bias), instead of trying SO hard to influence (and create) the pro-Hillary anti-Trump news, Hillary’s opponent may have been someone else. Or it may have been Bernie instead of Hillary. The mainstream media intentionally (unintentionally) pitted their powerful (but corrupt and flawed) candidate against the one person who could beat her, because he didn’t care and had no fear.

            1. Sounds nice, until you click the link (“UPDATED: Trump would have beaten Obama”). The headline is still the same, but updated numbers, using actual data from the Federal Election Commission (rather than NY Times databases) clearly shows that Obama 2012 would have defeated Trump 2016. Same for Obama 2008.

              In other words, Trump fared worse than McCaine or Romney. Democrats failed to get the Obama voters to vote.

              Either way, it is now over and done, enjoy your partying and the next two years of free run of the house!

        2. MAIN STREAM MEDIA IS DEAD, they’re losing customers and money, I deleted from my Roku and cable: CBSNEWS, NBC,ABC , MSNBC, CNN, and thousands of people are unsubscribing from the New York Times( owned by Mexican globalist kingpin Carlos Slim), Washington Post and various others Libtard publications, people are waking up !!!
          Globalists are having trouble getting people in the socialist democrat bandwagon, they don’t realize this is the UNITED STATES OF AMERICA not a banana republic!!!!!

    2. BS, media up Hillary’s as- forever. U folks only kid yourselves. Hillary lost because people are fed up and want REAL change. A vote for Hillary was acceptance/agreement with the past 8 years and longer actually.

  2. I think we all need to give the President Elect a chance to lead and carry out his policies. We can all express our personal opinions to the delight of MDN but now, at last we will have a genuine chance to see if racism, hatred, fear, sexism, protectionism, and autocratic ideals can improve all our lives. We can doubt it all day. We can be persuaded by the mainstream media that it won’t work… but let’s see if flippant remarks, insults, and being almost crazily thin skinned are qualities that lead to being a great President. They just might. We shall see.

  3. Many superb comments regarding the discredited MSM.

    Just after the Trump wins announcement, the first negative story to make the major media rounds was the market will panic and lose 900 points and the usual implied uncertainty … yeah, right.

    As the story reports, DOW briefly rose into record territory today.

    Media credibility is a thing of the past.

    Congrats on a historic win, Don. Best wishes.

  4. This is an admittedly cynical view. But food for thought.
    If you think about the Electoral College process in this country it boils down to a very simple idea. If you were a pivotal elector, one of those whose vote would make the difference and you were privately approached with an offer like this. “Vote for our candidate and you will get an overseas account worth $5 million or vote against him and a member of your family will be killed.” How would you vote? Assume that there are some you already have, some you will never have and some on the fence. It’s that limited number of fence sitters you have to reach, say fifty people. Note that there was not much money spent on ground organization, not much spent on TV ads. But say $250 million went into payoffs and threats. Pretty easy way to go if you have several billion dollars.

  5. According to Archives.gov: “There is no Constitutional provision or Federal law that requires Electors to vote according to the results of the popular vote in their states. Some states, however, require Electors to cast their votes according to the popular vote. The U.S. Supreme Court has held that the Constitution does not require that Electors be completely free to act as they choose and therefore, political parties may extract pledges from electors to vote for the parties’ nominees… The Supreme Court has not specifically ruled on the question of whether pledges and penalties for failure to vote as pledged may be enforced under the Constitution. No Elector has ever been prosecuted for failing to vote as pledged.”

    In fact, only 29 states require Electors to vote for the winner of the popular vote. But fortunately several are critical swing states, including: Colorado, Florida, Michigan, Nevada, North Carolina, Ohio, Utah, Virginia and Wisconsin.

    According to Archives.gov: “Over the years, however, despite legal oversight, a number of electors have violated their state’s law binding them to their pledged vote. However, these violators often only face being charged with a misdemeanor or a small fine, usually $1,000.”

    If you had $500 million to spend and were practiced in the “art of the deal” what would it take for you to go buy the election?

      1. that’s a right wing canard.. yeah she gave some speeches and got fees.. that’s how it is at that echelon.. but Trump has billions and the ethics of a poisonous tree frog. Read The Prince by Machiavelli.. The ends justifies the means.. WIN at all costs and by any means necessary. That was never the Clinton’s modus operandi.. they were and are into self aggrandizement without a doubt.. and both of them shade the truth or outright lie when they choose to or deem it convenient.. That’s not in doubt. But Trump will SAY anything (proven dozens of times) and DO anything (also proven dozens of times) to win. It’s not beyond the realm of possibility that he or his assignees took the ultimate step to do just that.

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