Month: November 2016
The market trends since the US election continued unabated last night, adding weight to our view that some major inflection points have occurred. Three things caught our eye last night and they have large ramifications for our local stocks:
Where’s the next elastic band?
Last night the Dow made all-time highs on continued optimism following Donald Trump’s election victory. However it should be noted the strength was very sector specific, even the different US indices themselves witnessed diverse performances e.g. the Dow +1.2%, the S&P500 +0.2%, Russell 3000 +0.3% but the Tech. NASDAQ -1.6%. There were again some clear standouts both ways within the S&P’s 11 sectors:
Yesterday Donald Trump shocked the world and became the 45th American President. It certainly proves one thing – polls are a total waste of time, a bit like rating agencies over the last decade. One initial observation is this feels a sign that other European countries may follow the UK and push back against the EU as the average Western person is clearly disenchanted. Overnight the US market chased stocks that would benefit from Trump’s perceived policies which coincidentally, these are largely the inflation stocks. My only comment on the election is a positive one for our children: “Like him or not, Donald Trump has shown us all that a person can achieve anything if they put their mind to it” – Market Matters.
Really bullish, there's more to go in the reflation rally
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