Stock market surges following Trump's victory

The New York Stock Exchange on Wednesday morning reported that the Dow Jones Industrial Average and the S&P 500 were trending sharply upward. The growth is widely seen as an indication that investors have faith in the strength of the economy following projections that former President Donald Trump would return to the White House in January.

What do market observers have to say about this? Michael Reinking, a senior market strategist for the New York Stock Exchange, described the election as a “clearing event,” which swept uncertainty out of global markets. In recent weeks, financial and betting markets began to predict a Trump victory in the 2024 presidential election, Reinking said. Investors were also expecting Trump’s Republican Party to take control of the House of Representatives as well as the Senate.

Dig deeper: Read Carolina Lumetta’s report in The Stew about how Trump clinched his victory in the 2024 presidential election.