“European stocks rose on Thursday following extraordinary gains in Asia and the United States, as exuberance shot through markets and reversed initial dives in reaction to Donald Trump’s U.S. presidential victory,” Abhinav Ramnarayan reports for Reuters. “Investors focused on Trump’s priorities – including tax cuts and higher infrastructure and defense spending, along with bank deregulation – and set aside for the moment longer-term worries about whether he will slap punitive tariffs on Chinese and Mexican exports, risking a global trade war.”
“European stocks hit a two-week high, with the pan-European STOXX 600 index up 1.3 percent in early dealings, and ‘safe haven’ government bonds sold off after Trump suggested he would spend billions on infrastructure,” Ramnarayan reports. “Investors saw signs that Trump will ditch the budget austerity policies that Western governments have pursued since the 2008 global financial crisis after he takes over in January. ‘Trump’s speech following the victory was hugely influential in yesterday’s sudden U-turn, as he focused more on unity and the need to spend to get the economy growing again. These policies combined with his desire to deregulate and lower taxes are all very market-friendly,’ said Craig Erlam, senior market analyst at OANDA.”
Read more in the full article here.
“The stock market rally continues for a second day after Donald Trump beat Hillary Clinton, a reaction few expected. The Dow opened at a record high,” Paul R. La Monica reports for CNN. “Stocks have historically gone down the day after Election Day. The market only rallied on 6 of the past 21 post-Election Days. Stocks plunged 5.3% in 2008 after Barack Obama was elected. Of course, those were unusually tumultuous times for the market and economy. But the S&P 500 also fell 2.4% after he beat Mitt Romney in 2012.”
“So can stocks keep rallying as Trump starts to make Cabinet picks and give more details about his economic and foreign policies?” La Monica reports. “Perhaps. Despite his mercurial nature during this long, nasty election cycle, Trump has already won raves from investors for his more measured acceptance speech.”
“Shares of many banks, drugmakers, oil companies and construction firms all rallied sharply Wednesday and were set to rise Thursday as well. Investors now seem to be betting that Trump, combined with a Republican-controlled House and Senate, may look to unwind some of the regulations on financial services companies put into place during the Obama administration,” La Monica reports. “There are also hopes that Trump will propose plans to boost infrastructure spending, drill more for oil and also push back on some of the attacks against drug and biotech companies for price hikes on key medications.”
Read more in the full article here.
MacDailyNews Take: That’s a big league reversal from the initial shock that some markets experienced as it dawned on many observers that Trump would win the U.S. presidency.
SEE ALSO:
Apple CEO Cook emails employees, calls for unity after Donald Trump presidential win – November 10, 2016
Markets surge, Dow hits record high after Donald Trump wins U.S. presidency – November 9, 2016
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
Scholars debunk claims of high-tech workers shortage, question tech industry’s ‘free pass’ – May 19, 2014
Apple is down 3% NOW?
Cook regretting his fundraiser for Crooked Hillary right about now
Wouldn’t be surprised at all if there were some financial insutitions making big money on all the movement back and forth on stocks the past several days.
I’m sure APPL will come thru all this just fine and probably better in the long run.
Nigel Farage calls Obama “a loathsome creature.”
bwahahahahaha, this is just too good…God moved Christmas for the United States from December 25 to November 8th.
http://www.telegraph.co.uk/news/2016/11/10/nigel-farage-describes-barack-obama-as-a-loathsome-creature/
Well Botty you better hope Trump does “great things” (and not in a Voldemort way) since your credibility will be shot to hell along with his if he doesn’t. I am optimistic even though against any changes or revocation to Roe vs. Wade and other recent civil liberty rights granted.
I have never taken much stock in others’ perception of my credibility, I am more concerned with retaining the liberty and success of our sovereign Republic.
Many schools of thought on that. We’ll see how your preference works out.
I subscribe to the Jeffersonian School of Thought.
Normally, markets like conservatives in charge, as it implies lower taxes and less regulation.
The nosedive that happened early yesterday implied uncertainty because Trump is anything but normal conservative; however, as the day unfolded, it became clear that the normal, Washington Republicans will remain in charge and will control policy. Trump may wish to impose term limits, but that is simply never going to happen. Infrastructure improvement (roads, bridges, hospitals, etc), also no chance. Mexican wall? Same thing. About the only really big things they seem to agree on are taxes and Obamacare.
For traditional Republicans, especially those who had serious problems with Trump and publicly (or privately) rejected them, this is a relief — the system remains in place and there is only so much that Trump can do. Ironically, this isn’t exactly what all those disenfranchised blue-collar whites were voting for, but since vast majority of those voters were conservative anyway, they may at most be disappointed that their outsider president wasn’t able make a meaningful difference (compared to any other republican candidate).
oh, shut up, you Sorosian windbag.
That sentence has absolutely no effect on anyone around here. You may type it five million times, and five million times it will have zero effect. Other than waste of your own time.
Outside of your own little echo-chamber, there is nobody who actually thinks your posts have any value. You see, the thing is, you may well be an intelligent person, and there are occasions when your writings present points worth arguing, but very quickly, you simply piss and $h!t over those posts with profanities, vulgarities and those notorious ad hominem diatribes against anyone who doesn’t think exactly like you.
When you look at the ratings of your posts, vast majority has single, or at most star and a half (unless you’re the only person rating them). That your posts have the lowest rating of all conservative posters there is quite telling, since the forums here have a decidedly conservative tilt. In other words, when your own people tell you you’re wrong, then it is a fairly clear message.
My message to you is this: congratulations on your guy’s win, enjoy the next two years (until the senate, if not the house as well, changes hands).
I take that back, gasbag is more accurate than windbag.
Grace is hardly your strong suit, that I can accept. Still, I’d have expected more character from you after winning it all, rather than continuing a diatribe past its expiration date.
but, but they started it…I even took my Trump checkmark off my name, then they started with the mean stuff, I was very gracious, then the bullying started, I had to fight back, you understand don’t you? please say you do, I’m really a good person inside, they’re just very nasty, sore losers, I tried to reach out, really I did.
…there’s more, after I came back from voting, Melvin tried to steal my MAGA cap off my head, and Predrag was keying my yellow ’71 AMC Gremlin…that car was a babe magnet. Then Michaele flattened my tires…you just don’t know what an ordeal I have been through.
but, I’m not bitter at all, because I am mature. I’m really a people person.
Eugene, you will always be tarnished by your constant irritating comments on this site and can only live it down with a sincere series of apologies (unlike Donald Trump’s poor excuse for an apology).
see? see what I mean? …I am going to my safe place, they won’t have Dick Botvinnik to kick around anymore.
Eugene, you are not Dick Nixon. A mother knows her son. We just don’t know your dad.
Well, my dad was Kenyan, says so right here on my birth certificate from 1961, even though Kenya didn’t exist until 1963.
Ha, you are a charmer, to be sure. You have taken a good deal of abuse at this site simply by being yourself and by proposing liberty as the pre-eminent social value. Kudos for hanging in there.
thank you, but as an ol’ Virginia boy once said, “The price of liberty is eternal vigilance.”
The battle is never over.
Have to agree with most of your points – and many of your other comments in many other threads.
Have to disagree with one, though, as markets in the U.S. typically do better under Democrats than Republicans. Even the “beloved” FOX News admitted as much back in 2012.
http://www.foxbusiness.com/markets/2012/09/04/history-shows-markets-gdp-outperform-under-democrats.html
My reply was to Predrag.
I don’t understand how bank deregulation is a good thing. I mean they almost singlehndedly collapsed Western Civilization.
For the purpose of greed, it does inspire invention. However if left unchecked it consumes all. Therefore regulation offers temperament.
Bank deregulation is only good for the greedy 1% – you are spot on in your question.
Let me provide some understanding:
Policies enacted during the Bill Clinton administration caused the financial crisis of 2007–2008. The precipitating factor was a high default rate in the subprime home mortgage sector.
Unintended Consequences:
It’s too bad that one of W’s decision points wasn’t demolishing the Clinton administration’s policy that caused the horrific housing crisis and the subsequent economic fallout that we continue to languish under to this day. Likely G.W. Bush was averse to being labeled a “racist” by knee-jerk Libs and those who make their profit by keeping their own people slaves to government subsistence living (Al Sharpton, Jesse Jackson, etc.)
In 1994 the Clinton administration declared war on an enemy — the so-called “racist lender” — who officials claimed was to blame for differences in homeownership rate, and launched what would prove the costliest social crusade in U.S. history:
Smoking-Gun Edict Shows U.S. Government Behind Housing Meltdown that precipitated the fFinancial crisis of 2007–2008.
Red-lining was abolished under Carter.
Yes. There is a reason Banks don’t lend money to poor people. They can’t pay it back. But good ol’ Bill and his henchmen forced the banks to give loans to poor people under the guise that they were discriminating. Well, we all saw what happened in 2007 and we’re still recovering from that mess.
Fantasy
As I recall, banks were selling sub prime loans… Loans to people they knew they couldn’t pay back, performing 7/2 ARMs for free – selling these loans, packaged as AAA. What I recall is equivalent to fraud. No one forced them to do this, like no one forced Wells Fargo to create fake accounts to bolster numbers to present to the board and stock holders as valid and profitable… All sorts of fraud…
Regulation, proper honest regulation is necessary…
The Bank Deregulation was signed by Bill Clinton, but it was passed by Republicans in both Houses. Phil Graham was one of the primary authors.
Nice try to shift the blame, but Wall Street owns both parties.
of course they do, but they do not own Donald Trump.
Of course they do. He’s the self proclaimed king of debt.
@First: Try some research. http://www.factcheck.org/2008/10/who-caused-the-economic-crisis/
uh oh, Trudeau has stated he’s ready to re-negotiate NAFTA with President Trump…I guess Cher won’t wanna move there. Where will she go? What will she do?
Frankly, my dear, I don’t give a damn.
She can catch a ride to Mars on one of Elon Musk’s rockets. After all, she said she was going to leave the planet….the sooner, the better.
Justin Trudeau is going to build a great big beautiful wall 1 metre taller than Donald Trump’s wall to keep the Yankees out of Canada. No deplorables wanted here. Republicans Go HOME!
Yeah? …let him try it, The Don will nuke his happy ass off the continent, he’ll be singing “O Canada” in the nuclear winter of his discontent. That’ll teach him good…REAL good.
That was yesterday’s news. Take a look at the market today…
Wow. Another blow to the Hildabeast supporters. Time to go burn some more buildings….