Dow opened at record high, Wall Street rally continued on 2nd day after Trump’s win

The stock market rally continues for a second day after Donald Trump beat Hillary Clinton, a reaction few expected.

The Dow opened at a record high.

And why not? It’s fitting that following the most unusual presidential election campaign in recent history, the stock market is also reacting in atypical fashion.

Many investors worried that a Trump win would be bad for stocks. In case you haven’t heard this before, the market hates uncertainty. And Trump is uncertainty on steroids.

What’s more, stocks have historically gone down the day after Election Day. It hasn’t mattered much if it was a Democrat or Republican winning, if the incumbent party (or president) was re-elected or if the outcome was considered an upset.

According to data from Jeff Hirsch, editor of the Stock Trader’s Almanac , the average decline for the S&P 500 the day after Election Day between 1932 and 2012 was 1.1%. But the S&P 500 rose 1.1% on Wednesday.

The market only rallied on 6 of the past 21 post-Election Days.

Stocks even fell in 1980, after Ronald Reagan, the hero of the modern Republican Party, defeated Jimmy Carter. And the market dipped nearly 1% after Reagan’s landslide win over Walter Mondale in 1984 as well.

Stocks plunged 5.3% in 2008 after Barack Obama was elected. Of course, those were unusually tumultuous times for the market and economy. But the S&P 500 also fell 2.4% after he beat Mitt Romney in 2012.

The last post-Election Day rally prior to this year was in 2004. The S&P 500 rose more than 1% after President George W. Bush was re-elected, defeating John Kerry.

But stocks also rallied after Bill Clinton won a second term in 1996. They fell slightly when he beat the first President Bush in 1992 though.

The market usually gets over election jitters pretty quickly though.

The S&P 500 has risen an average of 0.2% in the first three days after Election Day going back to 1932. And the market is up more than 1%, historically, between Election Day and the end of the year.