During his "My Take," Thursday, "Varney & Co." host Stuart Varney argued Trump's election win has turned the country in a positive direction and galvanized business titans like Elon Musk, Jeff Bezos and Mark Zuckerberg to work with the new president.
: When it looked like Donald Trump would win the election, stocks moved higher.
When a Trump win was confirmed on election night, stocks went straight up. They are still up at record levels. It is the Trump effect.
The same with Bitcoin. When crypto-friendly Elon Musk teamed up with the future president, bitcoin moved higher.
President-elect Donald Trump and Elon Musk talk ringside during the UFC 309 event at Madison Square Garden on November 16, 2024. (Chris Unger/Zuffa LLC / Getty Images)
After Trump won, and started talking about using crypto for a national reserve, it moved above $90,000.
Now, after the appointment of a new sheriff to regulate the industry, its value has moved above $100,000. It’s the Trump effect.
Across the board, the election of Donald Trump has changed so much. The country seems to have turned positive. A good measure of the mood is consumer confidence.
It hit a 16-month high within weeks of the election, and that translated into record spending over Thanksgiving. That again is the Trump effect.
Have you noticed the number of business leaders who are getting behind the new president?
Amazon's Jeff Bezos, Facebook's Mark Zuckerberg, banker Jamie Dimon and SpaceX and Tesla's Elon Musk.
Of course, they want something. Trump is exercising his power. That power has an impact.
The Trump effect is obvious overseas. Mexico and Canada are scrambling to comply with his border policy. China is trying to figure out how to deal with threatened tariffs.
Iran is clearly worried, as are Hamas and Hezbollah. Zelenskyy is talking peace with Russia and Israel is no longer being lectured by a weak American president.
The Trump effect is rippling through domestic politics as well. The scope of the Democrats' loss is forcing them to take another look at what they stand for.
Calling people racist or sexist no longer has bite. Identity politics is out. Prosperity is in.
So many things have changed in such a short period of time. The country is ready for it.
Under Biden, a majority thought America was headed in the wrong direction. Trump wants to turn that around. He's off to a good start. Things are looking up.