How Donald Trump's Presidency Could Affect Wall Street
Following the surprise election victory of Donald Trump, the Wall Street jolted back to life hours after the major plunge of prominent indices overnight prior to the announcement of the result. There were serious speculations from across the globe as to how exactly the presidential election results would impact the economic and financial scenario in the United States. However, the tables are turned and it seems legit to say that that entire furor about the expected negative effect of Trump’s victory on the stock market was for nothing.
The banking sector
The morning hours following the election results, saw the bank stocks performing better than all major sectors of the market. Several major players in the game including JPMorgan Chase, Wells Fargo and Bank of America recorded 3.3%, 2.9% and 3.6% rise in their respective points. One of the reasons for this could be that Trump’s presidency is likely to loosen the regulatory restrictions on the banks which would in turn lead to higher inflation and interest rates on installment loans or emergency loans, thus strengthening the economy on the whole. If a signature loan online is what you are looking for then let us try and get you approved. Many lenders are offering 24 loans loan online that you can apply for.
The health care sector
As per the Standard and Poor’s 500 Index, the health care stocks too witnessed a 3 percent rise on the day following the announcement of the election results. The two major performers of the sector were Regeneron Pharmaceuticals and Gilead Sciences, both of which performed surprisingly well. Speculations are that both health care and insurance sectors will continue to benefit from Trump’s regime.
The oil and mining sector
In retrospective, Trump’s presidential campaign endorsed the idea of extending government support to American jobs, especially in the coal and domestic oil industry. As a result of which, small oil and mining enterprises such as Kinder Morgan, Newmont Mining Corp, Williams Companies and Valero Energy Corp were seen performing exceptionally well in the market. Also, if Trump is able to uphold his campaign promise, there might be chances for the domestic energy companies to keep doing well for the next four years.