News 158K views since yesterday

Montgomery doubts the rally as investors sell Trump-linked assets

On ABC's The Business, the fund manager warns that congressional scrutiny of Musk's companies and disruptive executive orders could unsettle post-election optimism.

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ABC News (Australia) Story of November 6, 2026Trari Newsroom

Why this story? One of ABC News (Australia)'s most watched videos since yesterday, with 157,692 views.

Wall Street turns its back on Trump and Musk by dumping related assets, Roger Montgomery says

Things we can learn from the video

Press to jump

0:35Montgomery says Musk's Republican backing could bring greater scrutiny of government grants and contracts involving his companies.
1:18He argues that disruptive presidential executive orders could undermine the initial post-election market rally.
1:58The discussion turns to major technology companies and slowing AI infrastructure development.
2:47Montgomery identifies local opposition to data centres as a potential obstacle to Texas projects.
3:37He connects falling oil prices with expectations about US Middle East policy.
4:23Despite strong Australian shares, Montgomery predicts that market optimism will reverse.

Wall Street's post-election rally does not reassure Roger Montgomery. In an interview with ABC News Australia's The Business, the fund manager argues that investors welcoming Democratic gains in Congress may be underestimating the uncertainty still ahead.

ABC reports a strong session for the broader market alongside declines in assets connected to Donald Trump and Elon Musk. Montgomery interprets that divergence as investors turning away from the two men, with Musk's backing of Republican candidates potentially exposing his companies to greater congressional scrutiny.

He expects questions about government grants and contracts involving Starlink, SpaceX and Tesla. That is his assessment of the risks following the election, rather than an announcement of investigations.

Nor does he expect a Democratic Congress to make presidential policy predictable. Trump's executive orders, he says, could become "incredibly disruptive", undermining the optimism behind the rally.

The conversation also moves beyond politically connected companies. Asked about Amazon, Microsoft and Meta, Montgomery discusses slowing AI infrastructure development and local resistance to data centres, including potential delays in Texas. It adds a practical constraint to the investment debate: projects need somewhere to be built, and neighbours may object.

The interview drew roughly 158,000 views since yesterday, the most among ABC's new uploads. It closes with Australian shares performing strongly, but Montgomery remains unconvinced: "I don't believe that that optimism is justified, and consequently I think we'll see a reversal."

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