The Wall Street buying spree has begun. At 9:30 AM, when markets opened in New York, brokers were scrambling to fill orders as fast as possible. The Dow Jones Industrial Average shot up 1,300 points, putting it on track for one of its best days ever.
Trump Media & Technology Group was up 25 percent to a new all-time high, even though it had released disastrous earnings the night before. GEO Group, the private prison company, rose 27 percent, on the promise that the next Trump administration would jail millions of migrants.
It's hard to overstate how different the next Trump administration will be from Biden's. Tech giants like Google, Amazon, and Meta will no longer have to fear much from either the Justice Department or the Federal Trade Commission bringing antitrust suits.
The tsunami of money coming into the markets portend a new financial and corporate realignment. Big banks are likely to loosen regulation significantly, which they blame for holding back loan-making capabilities.
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