US markets surprise on post-election opening

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The Dow Jones surprised on opening this morning by rising 70 points – in contrast to global markets, which all fell sharply on the election of Donald Trump as US president.

The Dow Jones Industrial Average was at 18,382.55, while the S&P 500 hardly changed at 2134.92.

Healthcare, defence and steel companies led the rally and the Nasdaq Biotech index posted its largest one-day rally in eight years, rising almost 7 per cent.

Healthcare stocks had taken a hit in the lead up to the election as Democratic nominee hit out at price gouging in the industry.

Banks shares also rallied, including embattled Wells Fargo, which was up 3.7 per cent. Citi and Bank of America also rallied.

Trump has promised to lighten up regulation in the banking sector and has also been critical of low interest rates.