The markets opened Wednesday morning to minimal losses, after Dow futures nosedived Tuesday night amid Donald Trump's unexpected victory over Hillary Clinton. The Dow Jones was down 25.55 points, or 0.14 percent, and the S&P 500 was down 10.84 points, or 0.51 percent, at the opening bell. The Guardian reported the rally is being led by share in "steel producers, defense firms, and pharmaceuticals firms."
Just nine hours ago, the Dow futures were down 800 points. James Athey, a fixed income fund manager, told CNBC the "increased prospect of tax cuts and generally pro-growth set of policies" from Trump, coupled with Republicans' maintained majorities in the House and the Senate, has "seen some of this initial reaction begin to reverse."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Five festive cocktails for Christmas 2024The Week Recommends Serve seasonal cocktails for an extra special gathering
-
Octopuses could be the next big species after humansUNDER THE RADAR What has eight arms, a beaked mouth, and is poised to take over the planet when we're all gone?
-
Sudoku medium: December 23, 2024The Week's daily medium sudoku puzzle
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
-
Rupert Murdoch loses 'Succession' court battleSpeed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
-
Bitcoin surges above $100k in post-election rallySpeed Read Investors are betting that the incoming Trump administration will embrace crypto
-
Enron mystery: 'sick joke' or serious revival?Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
-
US charges Indian tycoon with bribery, fraudSpeed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
