U.S. President-elect Donald Trump said he would impose tariffs on major trading partners on the first day of his inauguration next year, but the market interpreted it as a bluff, and all three major stock indexes of the New York Stock Exchange ended strong.
On the New York Stock Exchange, the Dow Jones 30 Industrial Average closed at 44,860.31, up 123.74 points and 0.28% from the previous session.The
S&P 500 rose 34.26 points and 0.57% from the previous session to 6,021.63, while the Nasdaq Composite jumped 119.46 points and 0.63% to close at 19,174.30.
Trump's imposition of high tariffs on imports also raises concerns about a rebound in inflation, but the market has responded with buying for now as the interpretation that he is putting a threat on negotiations prevails.
"The market seems to have already priced in Trump's high tariffs or seen them as more of a bravado and negotiating strategy," Harris Financial said.
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