Posted on 11/06/2014 12:23:52 PM PST by SeekAndFind
The stock market gave its version of a standing ovation to the Republican midterm election win: A nice boost.
As soon as the market opened Wednesday morning, the Dow leaped to a new all-time high. The indexed finished the day up 101 points to close at 17,484.52.
Not to be outdone, the S&P 500 also set a new record close of 2,023.56.
The biggest celebration was in the energy sector. Utilities and energy companies surged. Devon Energy (DVN), NRG Energy (NRG) and Chesapeake Energy (CHK) were the top gainers in the S&P 500, with plenty of others in the sector not far behind.
The reason?
"In the run up to the 2016 elections, we think the GOP will want to focus on a few issues they could quickly pass through Congress and get onto President Obama's desk," writes Bob Doll, chief equity strategist at Nuveen Asset Management.
(Excerpt) Read more at money.cnn.com ...
Now now remember, obama told us not to pay attention to the daily gyrations of the stock market,............
QE has stopped, it should start falling.
Good. 0 did his best to destroy this country. It just got harder for him.
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