NEW YORK (TheStreet) --Since being elected President of the United States Donald Trump has already influenced financial markets. The past week has been characterized by many as the "Trump Rally" as several sectors, including financials, industrial's and biotech have surged.
"We have seen this tremendous rally on Trump's win. It's caught people by surprise," Virtu Financial equity trader Matthew Cheslock said on CNBC's "Closing Bell" today. "Today, we are seeing [additional] sectors rally."
One sector rallying today that had not done so the previous week is oil, he noted. Cheslock then tackled the question of whether the rally is ultimately sustainable.
"This is probably a short-term blip," Cheslock said. "He's probably going to overpromise and underdeliver in the long-term as every politician does."
While he would not say with absolute certainty that the market would stall, he does believe the moves higher have happened too fast and have gone too far.