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The Market Wrap for November 18: The Trump Bump Continues

Aaron Levitt Nov 18, 2016


It seems that the markets have fully come to terms with a President Trump victory. Or at least they seem happy with the prospects of his potential. Spilling over from last week, stocks continued to rise to record highs as traders took money out of safe-haven assets and moved them into equities. Sectors that were left for dead such as energy and mining shares continue to see the lion’s share of gains. (Don’t forget to check out last week’s Market Wrap here for more information.)

Building on that bullish tone was rather bullish data. Various measures of consumer health, industrial capacity, labor and even housing all came in at better than expected numbers. This helped traders grasp the idea that the Fed will indeed raise rates after “kicking the can” for a year. The uncertainty surrounding the increase is almost gone.

Earnings data has also helped support higher equities. Several bullish reports from retailers have signaled that this holiday season may actually be better than expected. Additionally, guidance numbers for a lot of the firms reporting this week came in better than expected as well.

All in all, the bull market continued to rally throughout the week.

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