On election night, my friend Jessica and I were standing in the studios of Fox News in Houston as the ready to provide “color commentary” as the Presidential election proceeded. The newsroom was highly electric with reporters rushing back and forth grabbing the latest data as it poured in.
In between interviews on what a “Trump” election could mean for the country, Jessica and I stood glued to the monitors watching the results as they were reported. While we were both very hopeful that Trump could win the election, but deep down I don’t think we actually believed it. The odds of Trump winning enough of the “swing” states to gain the sufficient number of electoral votes seemed astronomical. Yet, as each of those states began to fall in Trumps favor, a whisper began to spread through the room:
“I don’t believe it…he could actually win this thing.”
But, as each state did fall to Trump, locking in the electoral votes needed to win, stock market futures went in the same direction. Down 100, 200, 500, 700 points, as panic of a Trump victory swept through the markets. It was going to be a brutal opening on Wednesday morning.
But then, just as if someone had flipped a switch, it all changed.
The “guy,” whom if elected would crash the markets and the economy, was suddenly the “long awaited Saviour.” As the markets opened the next day, optimism surged on hopes “Trumponomics” would repair the ills which had plagued the economy for the last eight-years. The chart below shows the surge.
Well, here we are 100-days later, with the markets near all-time highs as investors continue to “hope” for the promised reforms. Yet, they remain absent as the challenge to pass reforms came from an unexpected source. It was thought the “real fight” would be between the Republican and Democratic factions of both Congress and Senate. However, it turned out the fight would be between the Republicans themselves leaving the Democrats sitting on the sidelines “eating popcorn and enjoying the show.”
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