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Durham entrepreneurs are weighing in on the stock market’s rise following Trump’s victory
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Durham entrepreneurs are weighing in on the stock market’s rise following Trump’s victory

DURHAM, NC (WTVD) — The lawn signs were piled up Wednesday evening in downtown Durham on West Chapel Hill Street.

A sign that a stressful election season is over, but not completely in the past.

“At every meeting, Trump says something different, so I’m waiting to see what actually gets passed into law and what he actually tries to implement. It will be interesting,” said Sean Umstead, co-owner of Kingfisher.

A key part of the president-elect’s economic policies is the imposition of new tariffs on imported goods.

“Three-quarters of the alcoholic products I sell come from outside the United States,” Umstead said. “If there was a blanket tariff on that, I think we would see a real price increase across my group. A lot of people don’t think about how many products they like that might be priced above their price point.”

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However, the stock market rose on Wednesday as investors expected more business-friendly policies.

But economists say you shouldn’t change your investment strategy just yet.

“Don’t look at it and say, ‘Wow, this is being repeated day in and day out. I’m going to sell everything I have and put it on the stock market,'” says Mike Walden, professor emeritus of economics at NC State University.

He said it helps the Trump administration that the economy is already in a good place. Inflation has fallen and weekly wages are rising slowly.

Umstead, meanwhile, is hopeful that his drink prices won’t rise anytime soon.

“There are curveballs being thrown at people who work in these businesses, regular people, every Durhamite,” he said. “We are all in this together and we will figure out how to move forward as a community.”

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