Markets shoot higher after Trump win. Investors ask, can it last?
Global News
Stock markets were rising broadly higher on news of Donald Trump's U.S. election victory on Wednesday. Here's how investors say you should adjust your portfolio.
Stock markets were broadly rising higher Wednesday amid certainty over Donald Trump’s victory in the United States’ presidential election, though experts warned there’s no guarantee a “Trump bump” will last.
U.S. stocks surged on the news Wednesday morning that Trump had claimed a second term.
The Dow Jones industrial average gained 1,500 points just before 3:30 p.m. Eastern, the S&P 500 was 2.5 per cent higher by that time while the Canadian benchmark S&P/TSX composite index was up 228 points at 24,608.41.
Bond yields were also rising Wednesday, with the 10-year U.S. Treasury yield up more than 15 basis points and long-term Government of Canada bonds on an upswing.
The stock market charge was led by U.S. banks such as Goldman Sachs and JP Morgan Chase. Allan Small, senior investment adviser of his own financial group at iA Private Wealth, tells Global News the surge is tied to hopes the victorious Republican candidate will enact a deregulation agenda when he takes office.
Cryptocurrencies also enjoyed a boom — Trump had promised to make the U.S. the “crypto capital of the planet” during the campaign — that saw bitcoin rising to a new high on Wednesday.
Select stocks gave a varied performance based on their links to Trump.
Trump Media & Technology Group, majority-owned by Trump, was up about eight per cent in afternoon trading. Investors overlooked the company’s latest quarterly results that showed the Truth Social parent’s revenue was just US$1 million.
The employee was indicted for allegedly distributing personal information of TD Bank customers, the latest criminal probe to hit the U.S. arm of the Canadian financial institution.
Stock markets were rising broadly higher on news of Donald Trump's U.S. election victory on Wednesday. Here's how investors say you should adjust your portfolio.
The Bank of Canada's Carolyn Rogers says improving housing affordability ultimately requires reaching a balance between supply and demand, which she says will take time.
Donald Trump was previously a crypto skeptic but changed his mind and took a favorable view of cryptocurrencies ahead of the election.
Canadians continue to make payments on their mortgages, but there are signs of stress bubbling up on other credit products, which CMHC warns could continue to spread to home loans.
Canadians continue to make payments on their mortgages, but there are signs of stress bubbling up on other credit products, which CMHC warns could continue to spread to home loans.
Bell Canada will use $4.2 billion of the proceeds it got from selling its stake in Maple Leaf Sports & Entertainment to Rogers Communications to fund this acquisition.
With the costs of pet ownership rising, the Competition Bureau sees an opportunity to drive down the prices of medication by expanding distribution to pharmacies.
Major North American carriers with international operations are cashing in on a booming demand for overseas travel and a resurgence in business bookings.