CNBC's Jim Cramer said Wednesday's session reflected investors who were relieved the contentious election had come to a decisive end and were preparing for what a Trump administration means for the business world.
"Let's understand that many people thought we'd have a contested election, which would cause tremendous uncertainty," he said."The fact that we already know the winner is a huge win for the stock market in itself, which makes it a magnet for new money.""Let's understand that many people thought we'd have a contested election, which would cause tremendous uncertainty," he said.
But he pointed out that the market reached record highs during the Biden administration. He wondered what kind of action lies ahead with Trump at the helm, a man who's always had a fervor for Wall Street. "The ironic bottom line is it'll be tough to exceed the Biden regime when it comes to the stock market. Biden was no friend to stocks, but the market went up anyway," Cramer said."Who knows how high they can go with a president-elect who always told me that the Dow Jones Industrial Average was his version of the Nielsen ratings.
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