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.
So-called cyclical stocks including banks rose Wednesday, alongside other potential beneficiaries of less regulation and more economic stimulus, said Zechner in an email.
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….