Stocks Soar on Day After Election

Stock markets in the U.S. soared Wednesday following the surprise win of New Yorker Donald Trump as the next President of the United States.

The market had jitters last night when Trump took the lead with Dow futures dropping as many as 800 points. But the Dow Jones Industrial Average opened this morning to just a slight decline and surged in the afternoon to close at 18,589.69, up 256.95 or 1.4%.

The Nasdaq had a nice day as well, increasing 57.58 points or 1.11%.

Shares in Time Warner (TWX) declined 1.45% today on fears that the Trump administration won’t allow a proposed acquisition of the company by AT&T for $107.50 in cash and stock. Trump said during the campaign he was opposed to the merger due to concentration of power in media.

U.S Steel (X) saw its shares increase $3.60 or 17.18% to $24.56 on Trump’s potential for favoring American manufacturers.

Health insurer Aetna (AET) shares were up $5.25  or 4.66% to close at $118.02 on optimism that Trump will repeal the Affordable Care Act or Obamacare.