Traders work on the floor of the New York Stock Exchange (NYSE) the morning after Donald Trump won a major upset in the presidential election on November 9, 2016 in New York City. Global markets originally dropped after Trump began to pull ahead of his ri
New York: Wall Street stocks rebounded slightly early Wednesday from a mixed open following Donald Trump's shock win in the US presidential election, as hopes of a pro-business agenda partially blunted the higher uncertainty.
Stock futures plunged overnight as results suggested the unpredictable Trump was on his way to a defeat of Democrat Hillary Clinton, who had been viewed as a steady hand.
But worries about Trump were offset by hopes that his pledges to cut taxes, curb regulation and increase infrastructure spending could boost growth.
About 30 minutes into trading the Dow Jones Industrial Average was up less than 0.3 percent at 18,378.55.
The broad-based S&P 500 was up 0.1 percent to 2,142.68, while the tech-rich Nasdaq Composite Index was flat at 5,196.08.
Analysts said the election outcome opens a period of uncertainty in the US after Trump's campaign favored a variety of potentially radical steps, including tearing up international trade agreements, replacing the head of the Federal Reserve and pursuing a more friendly relationship with Russia.
JJ Kinahan, chief market strategist at TD Ameritrade, said the outcome likely ushers in a period of volatility as markets try to assess whether Trump will follow through on these pledges.
"What people promise on the campaign trail and what actually happens are two different things," Kinahan said. "So we're still speculating until he actually takes office and the new Congress comes."
"It's now looking like a bad day, but no sense of panic."
