7A
THE DAILY ASTORIAN • WEDNESDAY, NOVEMBER 9, 2016
US stocks gain following Trump victory
A sell-off in
bonds sends
prices tumbling
By ALEX VEIGA
and PAN PYLAS
Associated Press
Major U.S. stock indexes
moved higher in afternoon
trading today as Wall Street
sized up the implications of
Donald Trump’s stunning
presidential election victory.
The solid gains marked
a reversal from earlier in
the day, when global stock
markets were roiled after it
became clear that Trump had
sealed the win over Hillary
Clinton.
Markets had been jittery
in recent weeks over the pros-
pect of a Trump administra-
tion. But conciliatory com-
ments from the president-elect
helped global stock markets
recover a large chunk of their
earlier losses.
On Wall Street, finan-
cial companies led the gain-
ers, surging 3.2 percent. Banks
and other financial stocks tend
to benefit from higher interest
rates and less government reg-
ulation, two things investors
anticipate could happen during
a Trump presidency.
Health care stocks were
also heading sharply higher.
Traders had feared Clinton
would implement curbs on
drug pricing increases that
could hurt drugmakers and
biotechnology companies.
Utilities were down the
most, sliding 2.6 percent, fol-
lowed closely by consumer-fo-
cused stocks. Crude oil prices
headed higher after being
down earlier in the day.
The Dow Jones industrial
average was up 171 points,
or 0.9 percent, to 18,504 as
of 1:05 p.m. Eastern Time.
The Standard & Poor’s 500
index gained 17 points, or 0.8
percent, to 2,157. The Nas-
daq composite index rose 38
points, or 0.7 percent, to 5,232.
A sell-off in bonds sent
prices tumbling, driving the
yield on the 10-year Treasury
note up to 2.04 percent from
1.86 percent late Tuesday, a
large move. That’s the high-
est the rate has been since Jan-
uary. That rate is a benchmark
used to set interest rates on
many kinds of loans including
home mortgages.
Traders are selling bonds
to hedge against the possibil-
AP Photo/Richard Drew
An image of President-elect Donald Trump appears on a television screen on the floor of
the New York Stock Exchange today. Stocks are moving solidly higher in midday trading
on Wall Street following Donald Trump’s upset victory over Hillary Clinton in the U.S.
presidential election.
ity that interest rates, which
have been ultra-low for years,
could rise steadily again under
a Trump administration, said
Tom di Galoma, managing
director of trading at Seaport
Global Securities.
“People are starting to
believe that Donald Trump is
good for the economy, which
makes him not so good for the
bond market,” di Galoma said.
“You’ve also had the stock
market come back overnight.
People are starting to realize
that a Trump presidency is not
the end of the world.”
Though
uncertainty
remains over Trump’s trade,
immigration and geopolitical
policies and what his victory
means for the future of glo-
balization, investors appeared
somewhat calmed by his vic-
tory speech, in which he
praised Clinton and urged
Americans to “come together
as one united people” after a
divisive campaign.
“While Trump slightly
soothed some concerns in his
victory speech, uncertainty
remains over what kind of a
U.S. he plans to lead,” said
Craig Erlam, senior market
analyst at OANDA.
Health care companies
like hospital chains and some
insurers that gained busi-
ness from the Affordable
Care Act’s coverage expan-
sion took heavy losses. Mean-
while, shares jumped for drug-
makers and pharmacy benefits
managers that likely will face
less regulatory scrutiny over
price increases from a Trump
administration.
HCA, the nation’s larg-
THE DAILY
ASTORIAN
W EDNESDAY E VENING
A
(2)
(-)
(-)
(6)
(-)
(8)
(9)
(10)
(12)
(13)
(-)
(20)
(-)
(29)
(30)
(31)
(32)
(34)
(35)
(36)
(38)
(39)
(43)
(44)
(45)
(46)
(47)
(48)
(49)
(50)
(51)
(52)
(53)
(54)
(56)
(57)
(58)
(61)
(63)
(64)
(65)
(162)
L
KATU
KOMO
KING
KOIN
KIRO
KGW
KRCW
KOPB
KPTV
KPDX
KCPQ
TBS
KZJO
ESPN
ESPN2
NICK
DISN
FAM
FMC
LIFE
ROOT
FS1
SPIKE
COM
HIST
A&E
TLC
DISC
NGEO
TNT
AMC
USA
FOOD
HGTV
FX
CNN
FNC
CNBC
BRAV
TCM
SYFY
RFD
(2)
(4)
(5)
(-)
(7)
(-)
(3)
(10)
(12)
(-)
(13)
(20)
(22)
(29)
(30)
(31)
(32)
(34)
(35)
(36)
(38)
(39)
(43)
(44)
(45)
(46)
(47)
(48)
(49)
(50)
(51)
(52)
(53)
(54)
(56)
(57)
(58)
(61)
(63)
(64)
(65)
(162)
6
est hospital chain, was down
nearly 15 percent, while
Viagra maker Pfizer climbed
more than 7 percent, the big-
gest gain in the Dow. The big-
gest pharmacy benefits man-
ager, Express Scripts Holding
Co., was up more than 6
percent.
Traders also bid up shares
in defense contractors, antic-
ipating the companies will
thrive under a Trump presi-
dency. Northrop Grumman
climbed 5.1 percent, while
Lockheed Martin rose 5.7
percent. Raytheon added 7.1
percent.
Private prison operators
also surged. Corrections Corp.
of America vaulted 47 percent,
while GEO Group jumped
20.1 percent.
Firearm sales typically
surge when a presidential can-
didate who favors an expan-
sion of gun-control laws is
elected. That’s not the case
with Trump, however. That
gave investors a reason to
sell shares in firearm makers.
Smith & Wesson slid 14.4 per-
cent, while Sturm, Ruger &
Co.., fell 13.7 percent.
In Europe, Germany’s
DAX was up 1.6 percent, while
France’s CAC-40 gained 1.5
percent. The FTSE 100 index
of leading British shares was 1
percent higher.
As Trump gained the lead
in the electoral vote count,
share prices tumbled in Asia,
which were open during the
election results.
By the time Trump was
confirmed the winner and
made his speech, financial
markets had steadied. The
dollar also recouped some
ground, while assets that many
investors search out at times
of uncertainty, such as gold,
came off earlier highs.
One currency that remained
heavily sold is the Mexican
peso. It was down 8.4 per-
cent as the prospect of a wall
along the United States’ south-
ern border, a key campaigning
point for Trump, has come one
step closer to reality. Trump
has insisted that Mexico will
pay for the wall. The U.S. cur-
rency rose sharply to 19.75
Mexican pesos from 18.68
pesos.
Also potentially impact-
ing the peso is Trump’s threat
to rip up trade deals like the
North American Free Trade
Agreement, a key plank in
Mexico’s economic strategy
and growth.
“If Trump is able to fol-
low through with these sug-
gestions, Mexican activity will
suffer greatly,” said Jane Foley,
senior foreign exchange strate-
LISTINGS
A - Charter Astoria/ Seaside - L - Charter Long Beach
gist at Rabobank International.
Trump doesn’t formally
take the reins of power until
January but he will begin the
transition to his presidency
almost immediately. In the
coming weeks, investors will
be looking to see if he further
tempers some of the rhetoric
that polarized American opin-
ion and often spooked inves-
tors in financial markets.
Another point of interest
will center on the U.S.’s trade
relations with China and its
impact across Asia. Trump’s
victory has raised concerns
that the U.S. and China might
embark on a trade war of sorts
and that protectionism around
the world will grow.
Those concerns weighed
heavily on Asian stocks.
Japan’s Nikkei 225 index
closed 5.4 percent lower,
recouping some losses. Hong
Kong’s Hang Seng closed 2.2
percent lower.
Evening listings
WEDNESDAY
N OVEMBER 9
PM
6:30
7 PM
7:30
8 PM
8:30
9 PM
9:30
10 PM
10:30
11 PM
11:30
KATU News at 6
Jeopardy!
Wheel of Fortune The Goldbergs (N) Speechless (N)
Modern Family (N) Black-ish (N)
Designated "The Interrogation" (N)
KATU News at 11 (:35) Jimmy Kimmel
KOMO 4 News
Wheel of Fortune Jeopardy!
The Goldbergs (N) Speechless (N)
Modern Family (N) Black-ish (N)
Designated "The Interrogation" (N)
KOMO 4 News
(:35) Jimmy Kimmel
NBC Nightly News KING 5 News
KING 5 News
Evening
Blindspot (N)
Law&O: SVU "Great Expectations" (N) Chicago P.D. "300,000 Likes" (N)
KING 5 News
(:35) Tonight Show
KOIN Local 6 at 6 CBS Evening News Extra
Ent. Tonight
Survivor: Millennials vs. Gen X
Criminal Minds "Elliott's Pond" (N)
Code Black "Hero Complex" (N)
KOIN 6 News @ 11 (:35) S. Colbert (N)
KIRO 7 News
CBS Evening News The Insider
Ent. Tonight
Survivor: Millennials vs. Gen X
Criminal Minds "Elliott's Pond" (N)
Code Black "Hero Complex" (N)
KIRO News
(:35) S. Colbert (N)
KGW News at 6:00 p.m.
Live at 7
Blindspot (N)
Law&O: SVU "Great Expectations" (N) Chicago P.D. "300,000 Likes" (N)
KGW News at 11 (:35) Tonight Show
Last Man Standing Last Man Standing Modern Family
Modern Family
Arrow "So It Begins" (N)
Frequency "Deviation" (N)
KGW News at 10 Two and a Half
Two and a Half
Met Your Mother
Journeys in Japan Nightly Business PBS NewsHour
Nature (N)
Nova (N)
Military Medicine (N)
Debt of Honor
6 O'Clock News
Family Feud
Family Feud
Lethal Weapon "Fashion Police" (N)
Empire "Chimes at Midnight" (N)
10 O'Clock News
11 O'Clock News 2 Broke Girls
Mike & Molly
Mike & Molly
Big Bang Theory Big Bang Theory FOX 12's 8 O'Clock News on PDX-TV FOX 12's 9 O'Clock News on PDX-TV Family Guy
Family Guy
American Dad
Cleveland Show
Modern Family
Modern Family
Big Bang Theory Big Bang Theory Lethal Weapon "Fashion Police" (N)
Empire "Chimes at Midnight" (N)
Q13 News at 10
Q13 News
The Simpsons
Seinfeld
Seinfeld
Seinfeld
People of Earth
Big Bang Theory Big Bang Theory Big Bang Theory Big Bang Theory Big Bang Theory Full Frontal (N)
Conan (N)
Two and a Half
Two and a Half
Last Man Standng Last Man Standng Modern Family
Modern Family
Q13 News at 9
Big Bang Theory Big Bang Theory Friends
Friends
(4:00) NBA Basketb. NBA Basketball Houston Rockets at San Antonio Spurs Site: AT&T Center -- San Antonio, Texas (L)
SportsCenter
SportsCenter
SportsCenter
(5:00) NCAA Football Toledo vs. Northern Illinois (L)
SportsCenter
NFL Live
Fantasy Football Jalen & Jacoby (N) 30 for 30
Henry Danger
Henry Danger
Henry Danger "The Danger Begins" 1/2 The Thundermans All In With Cam
Friends Pt. 1 of 2 Friends Pt. 2 of 2 Friends
Friends
Friends
Friends
(:10) Diary of a Wimpy Kid: Rodrick Rules ('11) Zachary Gordon.
Walk the Prank (N) K.C. Undercover Girl Meets World Bunk'd
The Lodge
Bunk'd
Walk the Prank
Bizaardvark
Good Burger (1997, Comedy) Kenan Thompson, Sinbad, Kel Mitchell.
Freaky Friday (2003, Comedy) Lindsay Lohan, Mark Harmon, Jamie Lee Curtis. The 700 Club
The Middle
The Middle
(5:45) Puss in Boots ('11) Salma Hayek, Antonio Banderas. Monte Carlo (2011, Romance) Leighton Meester, Katie Cassidy, Selena Gomez. (:40) FXM Presents Monte Carlo (2011, Romance) Leighton Meester, Katie Cassidy, Selena Gomez.
Little W. "Everything's Bigger in Texas" Little Women: LA "Playing with Fire"
Little Women: LA "Sail Away" (N)
Little Women: LA "Reunion, Part 1" (N) Little W. Dallas "Dallas, Not Austin" (N) Little W. Dallas "Dallas, Not Austin"
In Depth (N)
Halls of Fame
NPGL Fitness D.C. Brawlers vs. Boston Iron
Halls of Fame
Mark Few
WPT Poker Bounty Scramble
UEFA Soccer Champions League
Ultimate Fighter 24 "Round Two"
Ultimate Fighter 24 (N)
TUF Talk (N)
Garbage Time (N) Fox Sports Live
TMZ Sports (N)
TUF 24 "What Are You Fighting For?"
TUF Talk
Garbage Time
Fast Five (2011, Action) Paul Walker, Dwayne Johnson, Vin Diesel.
Lip Sync Battle (N) Lip Sync Battle
That Awkward Game Show
Fast Five (2011, Action) Vin Diesel.
(:25) South Park "Douche and Turd"
(:55) South Park
South Park
South Park
South Park
South Park
South Park
South Park (N)
L.C. Heights (N)
The Daily Show (N) @midnight (N)
Amer. Pickers "The Einstein Gamble"
American Pickers "The Maineiacs"
American Pickers "Reverse the Curse" Pickers "Bound for Badness" (N)
American Pickers "High Energy Crisis" (:05) Amer. Pickers "Ladies Know Best"
The First 48 "Torn/ Gun Crazy"
Duck Dynasty
Duck Dynasty
Duck Dynasty "RV There Yet?"
Duck Dynasty
(:35) Duck Dynasty DuckD./ Duck D.
DuckD./ Duck D. (:05) Duck Dynasty (:35) Duck Dynasty
Say Yes-Dress
Say Yes-Dress
Tots/Tiara "The Goat Poop Incident"
Tiaras "The Return of Eden Wood" (N)
Toddlers & Tiaras (N)
Twirl Life (N)
Tiaras "Emergency! at Universal Royalty"
Alaskan Bush People "Judgement Day" Bush People "Released to the Wild"
Bush People "Back in Browntown"
Alaskan Bushcraft "Appliances" (P) (N) Treasure Quest "The Trail of Blood"
Alaskan Bushcraft "Appliances"
Alaska Troopers "Armed and Squatting" Life and Death Row "Punishment"
Life and Death Row "Judgment"
Border Wars "Stash House Sting" (N)
Living Dangerously "The Uprooted"
Living Dangerously "Gathering Storm"
The Da Vinci Code (2006, Drama) Audrey Tautou, Jean Reno, Tom Hanks.
Bones "The Girl With the Curl"
Bones "The Woman in the Sand"
Bones "Aliens in a Spaceship"
The Italian Job (2003, Action) Charlize Theron, Donald Sutherland, Mark Wahlberg.
Goodfellas (1990, Crime Story) Joe Pesci, Ray Liotta.
(5:30) Yes Man (2008, Comedy) Zooey Deschanel, Bradley Cooper, Jim Carrey.
NCIS "Untouchable"
NCIS "The Searchers"
NCIS "Semper Fortis"
NCIS "Reasonable Doubts"
NCIS "Charade"
Modern Family
Modern Family
Holiday Baking "Re-Gifting"
Holiday Baking "Holiday Hoopla"
Kids Greatest Moments (N)
WorstCooks "Best of the Worst" (N)
To Be Announced
To Be Announced
Buying and Selling
Buying & Selling "Suburban to Urban" Property Brothers
Property Brothers (N)
House Hunters (N) House Hunters (N) Property Brothers
Dawn of the Planet of the Apes (2014, Sci-Fi) Jason Clarke, Andy Serkis, Gary Oldman.
(4:30) Rise of the Planet of the Apes
AHS: Roanoke "Chapter 9" (N)
AHS: Roanoke "Chapter 9"
CNN Special
CNN Special
CNN Special
CNN Special
CNN Special
CNN Special
Presidential Debate
The O'Reilly Factor
The Kelly File With Megyn Kelly
Hannity
On the Record
Jay Leno Garage "The Essence of Cool" Jay Leno's Garage "Love Stories" (N)
Leno Garage "Wolf in Sheep's Clothing" Jay Leno's Garage "Supercars"
Jay Leno's Garage "Love Stories"
Paid Program
Paid Program
Below Deck "Decent Proposal"
Below Deck "One Less Fish in the Sea" Below Deck "The Sea Was Angry"
Below Deck (N)
Don't Be Tardy (N) Don't Be Tardy... WatchWhat (N)
Below Deck
(:15) Prelude to War (1943, War)
(:15) Jeep
The Negro Soldier (1944, Documentary) December 7th ('40, Doc) Harry Davenport, Walter Huston. Battle of Midway To Tell Truth "The Strategy of Truth"
(:45) Combat
Blade (1998, Action) Stephen Dorff, Kris Kristofferson, Wesley Snipes.
Quantum of Solace (2008, Action) Olga Kurylenko, Mathieu Amalric, Daniel Craig.
Movie
Kite (2014, Action)
Cowboy TV
Noble Outfitters HS Rodeo Tour
Equestrian Nation RW Horsemanship Rural Eve. News Racer's Edge
WesternSport
Cowboy TV
Noble Outfitters Product Showcase