Freewill
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- Oct 26, 2011
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More good that electing Trump has already done.
Dow Record Comes in Market Radically Polarized by Trump Victory
The Dow Jones Industrial Average’s first record close in three months comes amid a market drawing increasingly bright lines between what it views as winners and losers in a Donald Trump presidency.
Consider that the 30-stock gauge’s 218-point ascent Thursday happened the same day the Nasdaq 100 Index dropped the most since September, their biggest divergence since the internet bubble burst. Weakness in technology stocks and a handful of defensive industries that soared in the first half held the S&P 500 Index’s gain to roughly a fifth of the Dow’s.
The surge in stocks following a presidential election echoed 1996 and 1972, when the blue-chip index made fresh highs just after victories by Bill Clinton and Richard Nixon.
On the upside were financial shares, perceived beneficiaries should Trump make good on threats to dismantle the Dodd-Frank Act, as well as industrial and materials stocks in anticipation of infrastructure spending. Along with technology shares, pain was felt in high-dividend industries such as household product makers, utilities and phone companies as bond yields surged.
Dow Record Comes in Market Radically Polarized by Trump Victory
The Dow Jones Industrial Average’s first record close in three months comes amid a market drawing increasingly bright lines between what it views as winners and losers in a Donald Trump presidency.
Consider that the 30-stock gauge’s 218-point ascent Thursday happened the same day the Nasdaq 100 Index dropped the most since September, their biggest divergence since the internet bubble burst. Weakness in technology stocks and a handful of defensive industries that soared in the first half held the S&P 500 Index’s gain to roughly a fifth of the Dow’s.
The surge in stocks following a presidential election echoed 1996 and 1972, when the blue-chip index made fresh highs just after victories by Bill Clinton and Richard Nixon.
On the upside were financial shares, perceived beneficiaries should Trump make good on threats to dismantle the Dodd-Frank Act, as well as industrial and materials stocks in anticipation of infrastructure spending. Along with technology shares, pain was felt in high-dividend industries such as household product makers, utilities and phone companies as bond yields surged.
