Stock markets had a rough night on Tuesday, as Donald Trump’s surprising presidential victory unfolded. But the markets rebounded just about as quickly. Bloomberg notes the S&P 500’s turnaround yesterday was one of the fastest in history. The last time markets reversed themselves this quickly was in 2008.
CEOs talk to Trump
A group of high-powered CEOs signed an open letter to the new President-elect, as everyone weighed the potential effects of a Trump administration, according to the Wall Street Journal. Big companies have already game-planned how to react to new tariffs that Trump proposed during the campaign. The WSJ notes some industries face a mixed bag of possibilities. In health care, for example, some drugmakers are hopeful the new administration lifts price limits, but others in the industry fear a scale back of Medicaid.
General Motors announced yesterday it will cut shifts at plants in Michigan and Ohio, in a move that will affect 2,000 jobs. MLive says GM will also invest money in other plants, which will preserve some jobs at those locations, without creating new ones. The shift comes as the company says more consumers opt to buy crossover SUVs and trucks rather than cars.
Cocktails on call
Whether you’re excited for the election results, or you’re really, really upset, NPR has a suggestion: Booze delivered by mail. Just as companies such as Blue Apron have created a market selling meal kits direct to your door, a new crop of companies are selling cocktails in a box. The companies hope to tap into a market of folks thirsty for fancy cocktails, but intimidated by all the work required.