Financial analyst says to stay the course after election

Posted at 4:59 PM, Nov 09, 2016
and last updated 2016-11-09 16:59:53-05

The stock market rallied today after futures tanked as election results were coming in.

Financial advisor Rick Bloom of Bloom Asset Management said, "The stock market likes certainty and certainly everything about Donald Trump is uncertain."

That explains why Dow futures plunged 800 points as Election results were coming in.

But by Wednesday morning, the Dow was back up.

Bloom says the stock market can be a bit rocky in the short term.

"People overreact and then things get back to the norm. So I think we are going to have a shaky few days in the market," Bloom said.

Investors are going to pay close attention to Trump in terms of how he to plans to govern and who he is going to appoint in certain positions.

Nerves seemed to calm during his victory speech.

"He has to act presidential," Bloom explained. "A lot of the stock market is based upon confidence. Confidence in the system and if it appears that there is no confidence in him, you are going to start seeing people bail out."

Overall, Bloom says no matter the hit, the stock market always bounces back.

He added, "The situation may be different but we've gone through different crisis and one thing about our economy - we've always gotten through it. We are the most resilient economy in the world."

Financial experts say stay the course, especially if you are long term investor saving for retirement.

If you're looking for a return on your money in the next 6 months or so, you probably shouldn't be in the stock market.