Democrats good for Markets?
Conventional wisdon has it that the financial markets like Republican leadership (and vice versa). And already this morning there was an AP article titled "Stocks dip as Senate worries outweigh Rumsfeld". But I see the DOW is up 30, the NASDAQ is up 15 and the S&P 5. I also see a heck of a run in the last few days, with the DOW adding 200 points to its record levels. And the power shift away from the Republican party was not a surprise. I'd say the long run-up to the DOW record and the short spike this week points to a favorable market reaction to the elections from financial markets.
posted by Dr. Steven Morphy-Godchaux III at
1:57 PM
2 Comments:
What??? The long run up was an anticipation by the market of Democratic victory??? It's amazing. The dem's aren't even in office yet, and the spinners are trying to take credit for everything that was good before the election. Tell you what - let's look at where the economy is at this time next year when the dem's have had a chance to screw things up. For now, gas national average is $2.08, the Dow is 12150, nasdaq is 2396. the trade deficit narrowed in september, unemployment is at 4.6%, and the interest on 10 year t-bills is 4.64%. Let's give credit where it's due - g w bush.
By
Murphy "Mac" Morphy, at Thu Nov 09, 11:42:00 AM CST
The only people I know who like the Bush economy over the last six years work in oil in Houston. But then most people I know these days are in technology. How much politics had to do with the 1990s technology boom is debatable. But most folks I know miss the 1990s ('Clinton') economy.
BTW, my only point was that the markets didn't feak out at a Democratic victory, as some reports implied. I personally am concerned about the National Debt. It's easy to look prosperous by going into debt.
By
Dr. Steven Morphy-Godchaux III, at Thu Nov 09, 04:44:00 PM CST
Post a Comment
<< Home