DENVER BUSINESS JOURNAL - Sometime around midnight U.S. stock futures took a nosedive, but this morning investors woke to renewed energy following the news of Donald Trump’s victory in the presidential race.
Futures were down 850 points around midnight, said Fred Taylor, president and co-founder of Denver-based Northstar Investment Advisors, as he watched financial markets late Tuesday and early Wednesday.
“It opened positive this morning – you have money moving to parts of the market that would benefit from a Trump presidency such as health care, pharmaceuticals, and industrial stocks and financial stocks,” he said.
Pollsters predicted a Hillary Clinton win and her defeat Tuesday sent the markets scrambling overnight. Taylor dubbed the surprising presidential results a “Brexit 2.0” — the British vote to leave the European Union in June where polls predicted it would fail.
“Nobody anticipated Trump winning — all the pollsters were wrong,” he said. “The one thing the market doesn’t like is uncertainty.”
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