US STOCKS SNAPSHOT-S&P 500, Dow hit record highs on Black Friday

Reuters via Yahoo News ^ | November 25, 2016 | Reuters

[John W]

Nov 25 (Reuters) - The S&P 500 and the Dow opened at record intraday highs on Friday, helped by gains in healthcare and consumer staple stocks at the start of the crucial holiday shopping season.

[jalisco555]

Scott Adams says the strength of the market is a powerful argument to use with your “Trump is Hitler” friends and relatives. People who work in these markets are very smart. If they believed we just elected Hitler as president these markets would be crashing.

[bgill]

Naw. Can’t be. We were told electing Trump would cause the market to crash like never before.

[reed13k]

My opinion - and it’s just my opinion - is that the people that have been pumping the stock market the last 8 years are now doing one last xmas shopping event prior to pulling out the pins. They have 2 months. Then the pneumatically-powered dead cat bounce ends.

I could be wrong - in which case I’ll once again have missed a chance - but the market is due for a big correction and the P/Es are not making any sense. Feels like 2000/2001 all over again.

[wbill]

Actually, I expected to see a correction when Trump was elected. Figured that the first year or so of his presidency would be pretty bearish, because -

The market hates uncertainty, and Hillary! was going to more of the same.

Trump would give the market some long overdue tough love - like higher interest rates. Hillary! would let the party keep going with cheap money. Of course, the inevitable downturn would be that much worse....

At any rate, I'm pleased to be wrong, so far. Hope that it continues.

[jalisco555]

Maybe so, but something happened election night when the Dow futures fell 700 points and then suddenly reversed and the market took off. It’s like people in the market suddenly realized “Wait a minute, Trump winning is a good thing!”.

[mhx]

I think the 700 point fall was just during the period when it was uncertain that Trump would win and it looked like it might be a tie or that the count would have to continue for weeks. Once it was clear that Trump won, the uncertainty lifted.

[bert]

What it was was buyers sitting on their hands.

Wait and see was the course. Some however couldn’t resist buying at a ridiculous low price and did. There were fools selling regardless of the price

[riverdawg]

This was my take, as well, expressed on another thread several days ago. I watched each tick of the futures market in the wee hours of November 9th. Once Trump took Florida, Ohio, and North Carolina and appeared to be closing in on Pennsylvania, Wisconsin, and Michigan, most of the uncertainty was resolved, and the futures market did a 1000 point turnaround. It was a beautiful thing to watch, and will be a case study in future finance classes.