Dow closes up 250 points; financials surge after Trump election upset

CNBC ^ | 11/09/2016 | Fred Imbert, Evelyn Cheng

[The KG9 Kid]

U.S. stocks surged more than 1 percent Wednesday with financials and health care leading after Republican Donald Trump won the presidential election, defying market expectations for a Hillary Clinton win.

The day's rally took the major averages within 2 percent of their all-time intraday highs, and marked a stunning recovery from a sharp plunge in stock index futures overnight. Trade volume Wednesday was roughly 12 billion shares, the highest since the surprise U.K. vote to leave the European Union in June.

"Overnight was all about uncertainty. Today we know" the result," said JJ Kinahan, chief strategist at TD Ameritrade. He said part of the day's rally was fueled by short covering, and that volatility will likely continue as traders eye Trump's potential Cabinet picks.

[dynachrome]

That ain’t no ipod

[Oratam]

Businesses are happy that they no longer have to pay shakedown money to the Clinton Crime Cabal.

That's an interesting point you have made. Wall Street throwing money at her wasn't an endorsement; it was a calculated move based on her much-vaunted "inevitability."

They calculated on her election being a certainty . . . and were wrong.

[Army Air Corps]

It was protection money. The grifter has been sent packing.

[clearcarbon]

"In the wee hours of the morning, there were reports in the MSM that the Dow futures were indicating a drop of 900 points at the open."

Yes, they were.