Dallas (WBAP/KLIF News) – The Dow Futures on Election Night were down as much as 900 points, before rebounding way back in trading today. Much of the talk of a “Trump implosion of the markets” was largely driven by comments made by some big banks and other individuals, so says Spencer McGowan, host of “Net Worth Radio”. He said those who believed the hype are hurting today.
“The traders who sold into that, well, they’re probably going to get fired,” said McGowan. “Those who bought are probably having one of the best days of their careers. This defuses any short-term correction because of Trump.”
He thinks Texas-based bank stocks, oil and pipeline stocks, and corporate high-yield bonds might be good choices in the coming years. But McGowan says wait and watch for a little while before making any big moves with your 401k.
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