Traders at NYSE cheered when Bannon departed White House
Traders at the New York Stock Exchange loudly cheered Friday as news broke of White House chief strategist Steve Bannon’s departure – a move that sent sinking stocks bouncing back.
After struggling all day, the S&P 500, Dow Jones industrial average and NASDAQ began trading higher following an Axios report that Bannon was expected to be canned as a top adviser to President Trump.
Stockbrokers can be heard wildly applauding and whistling at the news on a clip on CNBC.
All three major indexes slipped Thursday and traded lower on Friday amid concerns that Gary Cohn, Trump’s chief economic adviser, might quit.