On the day after the election, Wall Street responded in a dramatic way. Some stocks went way up, others went way down. By reading those signals — by breaking down what people were buying and what they were selling — you can learn a lot about where the economy might be headed. Or at least, where people are willing to bet the economy is headed.

On today's show, we decode what Wall Street thinks about the next Trump presidency — what it means for different parts of the economy, and what it means for everyone. Does the wisdom of the market think President Trump will actually impose new tariffs and lift regulations? What about taxes and spending? And will inflation ultimately go up or down?

What markets bet President Trump will do. That's today's episode.

This episode was hosted by Jeff Guo, Sally Helm, Erika Beras, and Keith Romer. It was produced by Sam Yellowhorse Kesler and Willa Rubin. It was edited by Martina Castro and fact-checked by Sierra Juarez. Engineering by Gilly Moon. Alex Goldmark is Planet Money's executive producer.

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