Today’s story is about the results of one of the hardest fought elections the United States has ever seen.
If you haven’t already heard, Donald J. Trump beat out Hillary Clinton to become the 45th President of the United States. Clinton won the popular vote but Trump won the election based on votes from the Electoral College. You may be wondering what the Electoral College is so we will try to explain. Basically the Electoral College is a body of people representing the individual states that make up America. Those people will formally cast votes for the next President and Vice President. Why is the Electoral College still a thing if people cast individual ballots? We do not know.
As a company dealing within the mining industry, we are excited about Trump’s election and his promises to help the industry as a whole. After his victory was announced, iron ore prices jumped to a 2-year high. Glencore was up 3%, Rio Tinto gained 2.5%, and ArcelorMittal was up 3.9%. Increases like these have been seen across the board in mining and metals company stocks.
As things start taking off you’ll need our earthmoving equipment! Check it out before you miss it!