Markets activity ‘exploded’ as traders bet on a more business friendly approach by incoming administration
Donald Trump’s election victory last month ignited a trading frenzy at brokerage houses and Wall Street banks as expectations for sweeping policy changes added fuel to a US stock rally. Trading volumes in US equities jumped 38 per cent in November from the same month in 2023, reaching levels not seen since the meme stock craze of early 2021 and this month are still running above their average for the year, according to exchanges operator Cboe Global Markets.
That figure is more than triple the 5 per cent gain analysts had been forecasting prior to Trump’s victory, according to data from Bloomberg. “There’s likely to be meaningful policy change,” said Lake of the Trump administration’s potential impact on markets and the economy, adding that she shares the market’s broad optimism about the president-elect. “There’s more likely to be a sort of pro-growth type agenda,” she said.
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