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 ...
Yep.
Taxes up. Market down.
Imputed income galore.
Nancy Pelosi stands third in line for the Presidensity.
Iraq war now lost.
Gee, what a beautiful day!
I talked with my investment guy a few weeks back. I told him I was going to wait to move money around until after the election.
I'll be keeping my Bond Fund money (which I was going to move into something more speculative) RIGHT where it is for a while longer; probably the next two years. I'll need that balance now, for sure.
The markets hate uncertainty more than anything. As soon as the outcome is decided, they will continue to rise. The 'Rats have no better chance of raising taxes than they did yesterday, Bush can still veto anything and they will have nowhere near the necessary votes to overcome a veto.
It's the economy, stupid ; )
...ah, such a clever riposte...
I don't really care
That is if the Democrats don't ban the ownership of gold like they did in 1933....
Says it all about the profoundly clueless "swing voters".
Battlefield America with new and worse 9/11's coming our way thanks to the Bush Haters.
"That is if the Democrats don't ban the ownership of gold like they did in 1933...."
That will make the Gold Bugs shudder.
Bush haters on both sides are rejoicing.
Lets hope you are correct.
We are very dependent on foriegn investments in the US.
Foriegn money managers will be watching this unfold and will not be just standing by.
"We will be out of the market by the end of the day."
You probably should be; emotional investors are bad investors. You will probably be more comfortable in money markets and CDs.
Regular gas yesterday was $1.99. This morning it was $2.04.
Market open 45 minutes and down 28, back from 45. Looks like a pretty normal morning to me.
Thanks for the update. We can only hope for the best.
"Nancy Pelosi stands third in line for the Presidensity."
"Presidensity" - I like that new word! Some presidents are indeed pretty dense.
Or were you trying to say presidency?
My emotions got me out of the market in 2000 before the Clintoon bubbles burst and got me back in after 9/11.
Why do I get the feeling that you are happy with the election results, yesterday?
The DUmmies can't really mess up the economy at the moment and hopefully in the near future. Say... What happened to all the voter irregularities and fraud??!! I don't hear anything!
Ahhhh... The DUmmies won, so that means there wasn't any! I see how it works!
"Regular gas yesterday was $1.99. This morning it was $2.04."
Thanks for the heads up. Probably time to fill up my OJ Simpson Big Bronco. With the prices of gas going done, it was not a wise investment to fill up. Just buy a weeks supply every weekend. Our gasoline in our area has gone down about every weekend since the highs of this year.
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