Posted on 11/08/2006 6:03:17 AM PST by Grampa Dave
U.S. stock futures down as Democrats take control
LONDON (MarketWatch) -- U.S. stock market futures fell on Wednesday as Wall Street expressed disappointment that Democrats took control of the House of Representatives for the first time in 12 years, and the possibility that they would control the Senate as well. S&P 500 futures fell 5.10 points at 1,383.90 and Nasdaq 100 futures shed 6.75 points at 1,745.00. Dow industrial futures slumped 25 points to 12,163. On Tuesday, U.S. stocks rose for the second straight day. The Dow industrials rose 51 points, the Nasdaq Composite rose 9.9 points and the S&P 500 rose 3.1 points. See full story.
Markets weren't as bullish on Wednesday. Though markets had largely expected the Democrats to take control of the House, the Democrats weren't widely expected to take over the Senate. The Democrats could take control if they win in Montana and Virginia, two races that still haven't been declared.
"The Democrats are known to be less business friendly than the Republicans and there will be less decision making coming out of the U.S. government for the next two years. It's that simple," said Geoff Langham, head of trading for CMC Markets in London."
Excerpt go to link for full article:
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B6DD76413%2DAF8E%2D4DB5%2DAE19%2D42165DB8760B%7D&siteid=bigcharts&dist=news
(Excerpt) Read more at marketwatch.com ...
Kiss your gains in your IRAs and 401k's goodbye.
A "big thank you" is owed to the Bush Haters on both sides for what we are about to receive.
Exactly so.
I'm shocked!
Whoopdidoo. Correct me if I'm wrong, but that means we get to buy more shares in our IRAs and 401ks for less money, doesn't it? And then when the political winds shift again, as the always do, those cheapo shares will be worth a lot more, won't they? Life goes on, brah.
Bush made many of his own problems, and we followed. Stupid!
This says more than anything else. The Democrats in the House and Senate can do nothing, while President Bush will now be blamed for an economic downturn.
We are so screwed on so many levels
I work the foreclosure market. Regrettably, my business will improve.
I think a pretty good nose dive is due right about now. Headed for the bottom.
The screwing of America has begun!
The Bush haters on both sides are enjoying what will happen to America.
You may be in the best job security position in America.
Funny, he didn't get credit for the good economy.
Funny, that.
The liberals and haters thinks this country DESERVES to be punished.
Gold and silver prices appear stable this morning.
>>>That's funny. When the stock market ROSE on Monday and Tuesday, the Washington pundits said it was BECAUSE the demorats were going to take over and the future was better with a split Washington.
It's a classic illustration of the old Wall Street saw, "buy on the rumor, sell on the news.
My husband sold a lot of his yesterday.
Mo is right --- we are so screwed on so many fronts.
I have been up all night and I am too tired to type. I have been awaitng Montana's decision, but I see now that it's not coming anytime soon.
I will never forget it either
I am extremely pissed off at our side .. I knew it would be a tight race .. but there is no good reason for what happen last night
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