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Business

Wall Street whiplash: Stocks soar one day after Trump's win

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Opening sequence

Business

Wall Street whiplash: Stocks soar one day after Trump's win

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COMING UP:Wall Street whiplash: Stocks soar one day after Trump's win

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00:00:00
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00:00:02
Call it the Trump rally. After bracing for a huge sell off, investors actually sent stocks soaring on Wednesday, with the Dow crossing into record territory. Inspectors sniffing out sectors expected to benefit from a Trump administration, and Republican led congress. Reuters correspondent Lewis Krauskopf.>> You look at healthcare, pharma and biotech are having huge days today in part because of the receding fears of price control measures hitting farm and biotech.
00:00:32
That's clouded that group all year under the prospect that Hillary Clinton would be president. You've also got groups like defense and construction companies like Caterpillar and crane maker Terex that are having big days because Trump is gonna spend in those areas. At least that's the expectation.>> And appearing to have learned a Brexit sized lesson.
00:00:54
>> Yeah you heard the Brexit shock being compared to like the Trump shock and what you saw with Brexit was a steep fall off over two days and then a steep rebound. And what one investor told me today is that maybe people were just condensing that steep fall off and steep rebound before the market opened.
00:01:09
So the market was all ready pricing that in.>> Some sectors left of Wednesday's rally, hospitals and health insurers bracing for Trump's threat to roll back Obamacare. But Krauskopf warns Wall Street's upswing may be short lived with a political apprentice headed for the White House.>> Going forward is I think one of the things we're gonna be watching is people are gonna be paying attention to President elect Trump.
00:01:33
Is he sort of the gracious, presidential or more presidential figure that we saw last night? Or is he gonna be more erratic? And markets will react to that, going forward over the next few weeks and months.>> I've just received.