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Bush Victory has Immediate Effects on Economy

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posted on Nov, 3 2004 @ 09:42 PM
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With the election of Bush a near certainty and Kerry having conceded the election, the Stock Market has risen with drug, defense, and banking stocks leading the way. Oil prices began to fall due to increased stocks, but began to rise again after the news of the election stimulated the market.



Dow Gains 101 Pts as Wall Street Welcomes Bush Victory
Wednesday, November 03, 2004
NEW YORK
Stocks posted solid gains Wednesday, helped by health and defense companies that are expected to benefit from the re-election of President Bush, but higher oil prices kept those advances under pressure.

The Dow Jones industrial average ended up 101.32 points, or 1.01 percent, at 10,137.05. The Standard & Poor's 500 Index finished up 12.64 points, or 1.12 percent, at 1,143.20. The technology-laced Nasdaq Composite Index rose 19.54 points, or 0.98 percent, to 2,004.33.

The Nasdaq is now 0.05 percent higher for the year, while the S&P 500 is up 2.8 percent, although the Dow is down 3.03 percent. The S&P and Nasdaq both closed at their highest level in just over four months.

Democratic challenger Sen. John Kerry conceded in an extraordinarily close presidential election, buoying Wall Street with the certainty that there would not be a repeat of the 2000 election fiasco.

With Bush seen as more pro-business than Kerry, Wall Street welcomed the prospect of the Republican administration remaining in place for four more years.

"Bush wants to keep taxes down ... and Republicans believe that this is very bullish for corporate profits, and believe it's better for growth of the economy and for jobs," said Robert Robbins, president of Robbins Capital Management.

www.foxnews.com...







Bush Victory a Boon to Drug, Banking, Defense Sectors
Wednesday, November 03, 2004

NEW YORK
President Bush's election victory is shaping up as a potential bonanza for Wall Street, where firms are salivating about the possibility he will follow through on his pledge to allow private investment of Social Security funds.

A second term for the Republican president also makes it likely drug makers can head off government-mandated price controls for now. The defense industry also looks like a winner, more regulatory victories may be in store for the Baby Bells, and look for a new push for oil drilling in the Alaska wilderness.

While the privatization of Social Security has taken a back seat in this current election, experts predict the president will work with congressional Republicans, who boosted their majority in both houses, on what would be the most dramatic changes in the government retirement program's 69-year history. In addition, the president has gone on record as supporting an increase in medical savings accounts for individuals

www.foxnews.com...




Crude Climbs as Bush Victory Offsets Rising U.S. Inventories
Wednesday, November 03, 2004

LONDON
Oil prices rose on Wednesday as the re-election of President Bush offset a big increase in U.S. crude inventories ahead of winter.

Light crude for December delivery traded as low as $48.65 per barrel before reversing course and rising 98 cents to $50.60 per barrel in afternoon trade on the New York
Mercantile Exchange.

Prices initially tumbled after the U.S. government's Energy Information Administration reported that crude oil stocks rose 6.3 million barrels to 289.7 million last week.

Crude stocks have risen more than 10 million barrels in the last two weeks as they recover from the impact of Hurricane Ivan which tore into the oil-producing U.S. Gulf of Mexico in September.

Global supplies have also been boosted by the highest production from the OPEC oil cartel in 25 years and by improved supplies from Iraq over the last two months.

www.foxnews.com...




posted on Nov, 3 2004 @ 09:45 PM
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Well this should be no surprise as now many know that American business is primed for unprecedented growth in this low tax environment.

Plus the Senate and House? Sweeeeeeeeeeeeet


Maybe we can kill the income tax now...you Bush is considering it just not publically yet.



posted on Nov, 3 2004 @ 09:53 PM
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Absolutely right, immediate impact.

As I commented elsewhere, my foreign currency reserves buy more US$ today than yesterday.




posted on Nov, 3 2004 @ 10:03 PM
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And I am a few K richer thanks to the stock surge





posted on Nov, 3 2004 @ 10:54 PM
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The stock market is happy to see a quick clean victory.i dont think it would have mattered who won,just how they won.



posted on Nov, 3 2004 @ 10:59 PM
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Originally posted by Samhain
The stock market is happy to see a quick clean victory.i dont think it would have mattered who won,just how they won.


I certainly agree that the market would not have reacted favorably to a protracted contested election, but one cannot overlook the effect of the Republican economic policies which lend themselves to business growth.



posted on Nov, 3 2004 @ 11:13 PM
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We are borrowing money to keep the economy stimulated.We already owe 7.5 trillion.one days stock numbers is not a recovery of the economy.we have real problems and bush getting re elected isnt goin to magicaly fix them.



posted on Nov, 4 2004 @ 06:37 AM
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Yeah debt's going up at a record rate , oils back up over $50/barrel, the dollar is down....great. You American cheer that on?

What a series of instant 'achievements'.



posted on Nov, 4 2004 @ 06:41 AM
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Originally posted by Samhain
The stock market is happy to see a quick clean victory.i dont think it would have mattered who won,just how they won.


I really think this explains it. I believe the stock market was puckered up for a while on the fears of a drawn out election process and that is why I say Kerry showed true devotion to the welfare of the country when he made the decisions he made yesterday.


As evidence, look at the volume traded during the day. There were a lot of stocks that were trading with high volume at the open due to people selling on fears that the market would go down if the election results ended up in court. Later in the day, after Kerry's concession, the "sigh of relief" could almost be tasted in the market reaction.

[edit on 11-4-2004 by Valhall]



posted on Nov, 4 2004 @ 06:43 AM
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Defense stock up, who pays? Taxpayers...who gain? Stockholders.
Who dies? Kids that cant afford a education?



posted on Nov, 4 2004 @ 06:45 AM
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The stock market feared that the election process might be dragged out like in 2000.

Basically,whoever won, as long as it was clear and quick, the stock market would have reacted positively.

It's got nothing to do with confidence in Bush and everything to do with it having been concluded.

Sorry to burst the Republican bubble.

Mind you I'm sure it won't stop you claiming that it is an endorsement of Bush by the financial sector.

[edit on 4-11-2004 by John bull 1]



posted on Nov, 5 2004 @ 07:20 AM
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Originally posted by Valhall
after Kerry's concession, the "sigh of relief" could
almost be tasted in the market reaction.


My husband and all his coworkers at Boeing sure
did a huge 'sigh of relief'. If Kerry had gotten in,
they all would have lost their jobs. Massive
unemployment out of the defense area would
have happened.

PHEW! He still is employed. (thank God!)




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