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1.Market Observations, 8.Was Sticky

11 Nov 2016 (TheAge) – Kevin Rudd on steroids: Why business is embracing Donald Trump

(11 November 2016, The Age, Peter Martin)

Suddenly, Donald Trump’s good for business. As it became clear that he would win late at night on Tuesday, US time, futures traders pushed down the price of the US Dow Jones industrial index 5 per cent – the maximum allowed.  Then after his gracious victory speech they bid it back up to the point where it closed on Wednesday up 1.4 per cent, a net gain of 6.4 per cent, after one of the most volatile 24 hours in history. As Jim Cramer, host of CNBC’s Mad Money put it, many investors “bid everything up when they saw that Trump wasn’t going to threaten to put Hillary Clinton in jail”. ‘

Read more at TheAge.com,.au

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