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Dow closes up 250 points; financials surge after Trump election upset
CNBC ^ | 11/09/2016 | Fred Imbert, Evelyn Cheng

Posted on 11/09/2016 2:20:32 PM PST by 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.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Extended News; News/Current Events; Politics/Elections
KEYWORDS: djia
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To: Covenantor

That ain’t no ipod


21 posted on 11/09/2016 2:46:26 PM PST by dynachrome (When an empire dies, you are left with vast monuments in front of which peasants squat to defecate)
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To: Army Air Corps
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.

22 posted on 11/09/2016 3:28:12 PM PST by Oratam
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To: Oratam

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


23 posted on 11/09/2016 4:08:51 PM PST by Army Air Corps (Four Fried Chickens and a Coke)
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To: Steely Tom
"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.
24 posted on 11/09/2016 8:09:04 PM PST by clearcarbon
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