Stock Market Soars After Election, Traders Say This Could Be Good News Moving Forward

Stocks are soaring after the election, and some traders say President-Elect Donald Trump's prior experience in the White House is easing some concerns. 

Trump's pledge to raise tariffs, cut taxes, and remove regulations is taking some of the fear and uncertainty out of the market and proving to be good news for investors.

“He's a pro-business type guy. He's been there before. We've seen his actions before and before COVID, he did have a very strong economy. So I think that's what's filtering into a lot of investors' minds,” said Dennis Kissler with BOK Financial. 

Traders agree- the market is in sound shape.

"The market was pricing in a Trump victory heading into this and we're seeing that follow through today,” said Jonathan Corpina, Senior Managing Partner, Meridian Equity Partners.

There was a dramatic stock market move in just a few days after the election. The Dow, S&P 500, and Nasdaq are all hitting all-time highs. At the same time, the Fed makes another interest rate cut. 

“Inflation is one of the things that could really hurt the economy or stop it. I think the Fed has been doing a good job of trying to balance that act,” said Kissler.

Here in Oklahoma, Kissler says we could see the benefits in the oil and gas industry. The Biden administration put some restrictions on LNG exports, while Trump will likely remove those barriers. 

"There's a lot of optimism that he's these pro-drill, drill, drill and he is — and it's going to ease restrictions and that that will keep production levels at the U.S. probably elevated more than as we would have seen a Harris win,” said Kissler.

The market is always changing but Kissler says things seem to be moving in the right direction.

“We’ve had kind of a soft landing so far and if we can continue that aspect, I think we’re going to be just fine,” said Kissler.

Trump also promised massive tariffs on imports during his campaign. Traders say that while they have proven to be successful in the past, there are still a lot of questions surrounding the tariffs at this point.

It's estimated that Trump's plan of tax cuts and tariffs would increase the national debt by $7.5 trillion over the next 10 years.