The stock market surged in a sign of undeniable support for former President Donald Trump winning a historic second term.
The day after the historic Trump-Vance ticket won big over Harris-Walz, the stock markets exploded to record highs. The Dow Jones Industrial Average rose 3.6% with a 1,500-point increase.
Market Watch describes this as the “largest post-election advance [in the stock market] in over a century.”
Interestingly, there was a sharp decline in solar stocks and other Green-energy stocks after Trump's victory, perhaps an indication that these industries and their stockholders recognize that under a second Trump presidency, massive taxpayer subsidies of the Green New Deal are on the chopping block.
No more massive subsidies to prop up industries that the consumer has made clear they don’t want – or at least don't want yet and don’t want to be told they must buy. Without mandates forcing people to purchase many of the Green New Deal products, many of these companies cannot sustain themselves. The Biden-Harris regime was forcing the demand through mandates on everyday Americans rather than allowing the green energy/product market to grow naturally and let demand build organically as consumers chose these things rather than the government forcing it on people.
Kevin O’Leary of Shark Tank fame says that Trump saved the American entrepreneurial model saying, “When you try to break the American model, it fixes itself.”
And, with this election, it sure did fix itself. When 70% of the country says the country is going in the wrong direction and the poor economy was the most important issue to so many voters, is it any wonder Trump-Vance won?
O’Leary said to Fox News Business, “He saved entrepreneurship. He saved the entire model of the S&P 500 because taxing 20% higher was a really bad idea, and it self-corrected ... This is why I'm getting on a plane tour, and I intentionally didn't leave until tomorrow night so I could go to Geneva, go to Abu Dhabi … and say it's 21% corporate taxes, [that's] 100% not going to change.
That is very important for people like me that bring capital back to this country. It fixed itself, and I think that's why America works and has worked for 200 years."
Even if there is a market correction back to pre-election levels, there is little doubt that this historic surge was the market’s way of doing a bit of a stadium wave for President Trump.
We know that the economy is not just the stock market. No matter how much Biden-Harris tried to convince us otherwise when the market was doing well while inflation caused the cost of living for everyday life to go up 20%. It is a good thing for everyone that the stock market is doing well. Our retirement accounts are growing and companies are feeling optimistic.
We need the country to have a sound economic policy that brings the cost of living for everyday Americans down. The country sent a clear message with its vote and picked Trump-Vance to work hard on this problem. Now, let’s all get to work.