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Dow up more than 3% after Trump win as U.S. stocks surge, Canadian markets also rise

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TORONTO — U.S. stocks surged after Republican candidate Donald Trump won the election, with the Dow Jones industrial average gaining more than 1,300 points by late morning, while Canadian markets were more muted but also rose.

"It looks like the 2016 playbook all over again," said John Zechner, chairman and lead equity manager at J. Zechner Associates.

In the U.S. these included financial heavyweights Goldman Sachs and JPMorgan Chase, which saw their share prices jump. They're two of the companies that make up the Dow Jones industrial average, which was up 1,315.43 points at 43,537.31. Elon Musk's Tesla was one of the big gainers mid-day Wednesday, up more than 13 per cent, while Trump Media & Technology Group was up more than 10 per cent. Bitcoin also stormed higher, as Trump has pledged to make the U.S."the crypto capital of the planet."Though Canadian energy stocks are having a good day so far, alongside technology and financials, the index has been weighed down by utilities, telecom, base metals and health care.

 

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