Donald Trump is returning to the White House, and the stock market is loving it. Investors, relieved to have a clear-cut election winner and fired up about the prospect of tax cuts and deregulation, have sent US stocks zooming higher.

The stock market has been rising since July – the S&P 500 3.3% since July. On Election Day it closed up more than 427 points, ending at 42,221.88. According to CNN.com, since 1944, in 18 of the 20 elections, the incumbent party won if the stock market was going up.

Markets are betting that the second Trump administration will bring robust growth, an unshackled corporate sector, and only modest downside from some of the president-elect's more disruptive plans. Why it matters: Policy will be volatile in the years ahead,

That’s why Trump, who closely follows the stock market and obsessed over it as president, should be nervous about the recent trend on Wall Street. The S&P 500 advanced 3.3% between the end of July and the end of October.