Markets surged after Trump's election win, with the S&P 500 and Dow rising sharply. Traders were excited by the end of election uncertainty, fueling a relief rally. Upcoming Fed rate cut and holiday season may sustain market momentum, Tuchman predicts.
For Peter Tuchman , a senior floor trader who's spent over four decades at the New York Stock Exchange, the excitement the day after the elections was euphoric. "Look, the bottom line is, on the floor, a majority of them are big Trumpers," said Tuchman, whose expressive appearances in wire photos have made him a trading-floor icon. "They were super excited about the results for the market," he added.
Markets reacted strongly to former President Donald Trump's victory over Vice President Kamala Harris in Tuesday's election. The S&P 500 hit all-time highs and saw its largest post-election-day gainand the Dow Jones by over 3.5%.
Tuchman told Business Insider that regardless of how he felt about the results, by the time the opening bell went off, the excitement and energy from the floor brought back a bustling NYSE as brokers, the press, and photographers filled the room again. "It was old school Wall Street," Tuchman said. "Brokers were really running around.
When you've got markets that are gapping up in a big way, where stocks closed at 50 yesterday and are opening at 60, you're going to see a lot of people trying to get an idea of what the pricing is for the market." Markets can handle anything except unknowns and anticipation,.
