CHICOPEE, Mass. (WWLP) – While the election results unfolded on Tuesday, our investments were on a roller coaster ride.
There were cheers Wednesday night after a major turnaround in the stock market. Late Tuesday night, as electoral votes started to add up for Donald Trump, Dow futures plummeted 900 points.
Raymond James Financial Advisor Mark Teed told 22News, “People felt comfortable going ahead and employing sort of a Hillary strategy for buying stocks. So I think the shock came when Donald Trump ended up winning, and they had to change course.”
And they did. By the time the market closed Wednesday, stocks had more than recovered, with the Dow Jones gaining 257 points.
The economy is getting better. GDP is growing. People are back to work. Markets generally like that kind of news and probably will go and hit new highs.
After the stock market closed in the green Wednesday night, Teed said he predicts smooth sailing, for the short term.