TOLEDO, Ohio —
The stock market has seen huge surges since Donald Trump was projected to be the winner of the 2024 election and the Republican party gained control of the Senate.
Financial investors are saying because the election results were quick and President-elect Donald Trump had a decisive win, there was a sense of relief for many people and investors, causing the jumps.
The Dow Jones Industrial Average climbed over 1,500 points on Wednesday.
"A lot of this is euphoria," said Alan Lancz, president of Lucas County-based Alan B. Lancz & Associates.
Lancz said the euphoria is probably temporary. He said although the president-elect's policies favor domestic growth and can provide more stimulus to the U.S. economy, there are a few caveats.
"It depends on China and a lot of geopolitical situations," Lancz said. "That's where I still think you're going to have volatility and some uncertainty right now. Everybody's looking with the glass half-full and that's why you're seeing higher valuations."
One sector that is doing well is tech stocks. Lancz said if you have invested in technology, he would suggest selling some because there could be a spike down.
He said if people are looking to invest, he would not currently suggest anything international, and people should wait to see how geopolitics may change under a new administration.
For people looking to expand their portfolios, Lancz suggested assessing where their investments are.
"The first thing I'd say is that if you're in long-term bonds, you might want to lessen the exposure," Lancz said. "They're not as safe as what you think."
Lancz said investing in energy and oil could be good, but when it comes to the actual price of gas, it might not change.
"I don't expect the next four years to really bring any new surprises," said Patrick De Haan, head of petroleum analysis for GasBuddy. "It may bring moderate improvement to oil and gas prices, but it will not cut oil and gas prices in half. So, you know, don't get too excited."
De Haan said presidents do not have control over global gas prices and they are often a response to economic conditions.