U-S markets surged today, as Donald Trump’s win will return him to the presidency, marking a major rebound from his 2020 loss. The Dow Jones, S&P 500, and Nasdaq reached record highs, driven by expectations of tax cuts and deregulation under Trump. Dent Wealth Advisors Founder Fred Dent says to not expect markets to continue to rise.
“Once the market begins to digest some of the realities as they unfold of the policies that it expects the Trump administration to put into place, a little more sobriety will rule. That doesn’t mean that the markets are going to go down, but euphoria will dissipate.”
Trump’s win kept sectors tied to his policies, with financials, energy, and industrial stocks seeing strong gains. Market volatility dropped to its lowest since September, reflecting relief over a clear election outcome. Tesla’s stock jumped as CEO Elon Musk expressed support for Trump. Dent says Bitcoin and the dollar both look solid.
“Bitcoin is at an all-time high of 74-thousand. The U-S dollar is very strong.
Dent says the focus now shifts to Trump inheriting a robust economy that is robust, and inflation is back to around the 2-percent range, and what tariffs he will enforce…
“It will be interesting to see if the tariffs, which by the way, Trump can decide on unilaterally with his fiat power…he doesn’t have to get permission to do that…It will be interesting to see what effect that has on consumer pricing.”
Meanwhile, renewable energy stocks declined amid uncertainty over continued federal support.
