With President-elect Donald Trump set to lead the country for the next four years financial experts like certified financial planner Bill Dendy are already watching for changes.Already the stock market soared Wednesday.“The market does not like uncertainty so with us knowing in one day the winner of the executive branch of the winner of the presidency,” Dendy said. “That's very important to the market, you're seeing the market have that rally of a relief.
Next, the market's attention will likely turn to the Federal Reserve. Another interest cut could happen. Dendy isn't so sure it will. “Up until the election the thought was the Fed would cut at least 25 basis points in November and again when they meet in December,” Dendy said. “However, bets are now that they don't cut it all but they wait and see to see if we're pouring gasoline on this fire and they don't need to lower rates and add more gasoline.”“We've slowly been entering into a buyer's market,” Gayle said.
President-elect Trump campaigned on many issues to improve the economy. Not knowing exactly what impact it could have, Gayle gives this advice. “I would say build a safety net because,” Gayle said. “Like I said, we can't predict what happens because the stock market goes up and down same as real estate. So, my advice to people is build a safety net."