MarketWatch: Trump had unleashed the stock market's 'animal spirits'
December 10, 2016
You don’t have to call it a Trump rally.
But some market specialists appear to be struggling to pin a name to the recent moves across global markets, which has pushed the S&P 500 index SPX, +0.18%Dow Jones Industrial Average DJIA, -0.11% the Nasdaq Composite IndexCOMP, +0.31% —and most recently the Dow Jones Transportation AverageDJT, +0.45% —into record territory since President-elect Donald Trump’s Nov. 8 victory over rival Hillary Clinton. The Dow scored its 14th record close on Friday.
Read: Stop calling stock-market rise a ‘Trump rally’
Steve Barrow, currency and fixed-income analyst at Standard Bank, said in a Nov. 30 research note that “whatever fears might exist in some quarters about Trump’s win, some sort of animal spirits might have been spurred.” So-called animal spirits is an oft-used term on Wall Street coined by famed economist John Maynard Keynes to describe gut instinct. READ MORE