Markets Continue to SURGE After Trump’s Election, Despite Liberal Big-Shot’s Claim
News flash to Dallas businessman, sports mogul and “Never Trumper” Mark Cuban: Don’t quit your day job – stick to television predictions and courtside drama.
The Dallas Maverick’s owner and Hillary Clinton supporter who had once suggested he would launch his own run for the presidency, only to later tell reporters he would consider running as the vice presidential candidate for either Trump or Clinton, had something else to say to FOX News’ Neil Cavuto just before the election.
“If Donald wins, I have no doubt the market tanks.”
While no one can deny Cuban’s success in turning a modest start in life into an empire, his ability to call moves on the stock market leaves much to be desired.
His short-sighted prediction – that the stock market would suffer huge losses as a reaction to the election of Donald Trump came in the form of a warning designed by the Clinton campaign to discourage complacency in her supporters and “get out the vote” to boost the Democrat candidate’s vote tally.
Instead, Cuban revealed himself as yet another celebrity endorsement willing to make outrageous, inflammatory and alarming statements to get his candidate, Hillary Clinton, elected – and possibly helping himself to a cabinet position in her administration.
Cuban’s definition of “tanked” may need revision, as it apparently is different than the definition used by the Dow Jones industrials index that measures market conditions and obviously likes the idea of a Donald Trump presidency.
In the first hours following the announcement on Wednesday night that Donald Trump would succeed Barrack Obama, jittery markets, exhausted after an 18-month primary season, investors responded.
The spasm was deep – but short-lived.
After an initial shiver, the Dow rose almost 200 points to reach an 18,780 all-time high, and two other stock market indices showed strong – even record-breaking gains.
The Dow Jones Industrial Average gained as much as 316 points following the early Wednesday morning announcement that Trump had won.
Even sweeter for Team Trump – and the American worker, was the surge in health-care and industrials reflecting Trump’s agenda to repeal and replace Obamacare and Caterpillar, the construction equipment giant, soared 7.7 percent on Trump’s promise to rebuild the nation’s infrastructure.
So much for “tanking.”