Don’t be surprised if the wild mood swings continue. In this kind of environment, investors should continue to favor the companies that benefit from policy goals that are unlikely to change.

"I'll demand that interest rates drop immediately and likewise they should be dropping all over the world," Trump said to business leaders from around the world. The yield on the 10-year U.S. Treasury note retreated from its intraday high of 4.664% following Trump's comments but closed at 4.648%, up from 4.599% on Wednesday.

U.S. stock indexes are drifting higher following a mostly encouraging batch of profit reports from big companies.