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Wall Street jumps as energy gains hint at Romney victory
Reuters ^ | Tue Nov 6, 2012 3:02pm EST | By Caroline Valetkevitch

Posted on 11/06/2012 12:19:26 PM PST by Red Badger

Stocks climbed on Tuesday as some investors bet that Republican Mitt Romney could pull off a surprise victory in the presidential vote, citing gains in defense and energy shares.

Gains were fairly broad-based, but among S&P 500 sectors, energy led the market along with materials and industrial shares, all sectors that rise with the economy.

Defense shares like United Technologies shot higher, raising some market speculation that Romney,, who has called for increased military spending, could be moving ahead of Democratic President Barack Obama in the vote.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Culture/Society; Politics/Elections; US: New York
KEYWORDS: dowjones; stocks; wallstreet

1 posted on 11/06/2012 12:19:29 PM PST by Red Badger
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To: Red Badger

2 posted on 11/06/2012 12:20:15 PM PST by Red Badger (Why yes, that was crude and uncalled for......That's why I said it..............)
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To: Red Badger

I’m sure it is a surprise to Reuters.


3 posted on 11/06/2012 12:21:10 PM PST by Col Frank Slade
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To: Red Badger

The media would be “Shocked” by a Romney win but I wouldn’t be shocked..today is the day that the American people decide if they want America to be a Communist country or a Capitalist one..and I think that by the energy Im seeing from Republicans that we are going to decide that we love Capitalism!!


4 posted on 11/06/2012 12:22:23 PM PST by Sarah Barracuda
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To: Red Badger

Funny, I switched 25% of my 401K last night to Energy. I guess I’m the trend setter and never realized it.


5 posted on 11/06/2012 12:22:55 PM PST by bkepley
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To: Sarah Barracuda

unexpected...


6 posted on 11/06/2012 12:23:12 PM PST by Perdogg (Vote like the US Constitution depends on it - it does!!)
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To: Red Badger

This is an interesting development.

Have Wall Street insiders been tipped off to something the general public doesn’t know yet? I am praying that is the case at least.


7 posted on 11/06/2012 12:23:28 PM PST by comebacknewt (Newt (sigh) what could have been . . .)
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To: Red Badger

Not sure what they could know that we don’t. But maybe?


8 posted on 11/06/2012 12:24:34 PM PST by dinoparty
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To: Col Frank Slade

IT’S AN UNEXPECTED SUPRISE TO THEM.


9 posted on 11/06/2012 12:24:44 PM PST by angcat (ROMNEY/RYAN 2012)
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To: Perdogg

Yep! I guess the media forgot something called the REDSKIN rule..in fact, on ESPN reported on it..no one else in the media said a word about it surprise surprise


10 posted on 11/06/2012 12:24:51 PM PST by Sarah Barracuda
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To: Sarah Barracuda

Limbaugh mentioned it, and that nobody else in the press remarked on it - and they would have remarked on it if the game had gone the other way.


11 posted on 11/06/2012 12:26:44 PM PST by Cboldt
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To: Red Badger

Smart money is usually right.


12 posted on 11/06/2012 12:26:56 PM PST by Retired Greyhound (.)
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To: Red Badger

Market closes in about 40 minutes, I’ll be amazed if those gains aren’t erased as “uncertainty” creeps into the equation and short-termers lock in gains.

But if we can overcome Massive Democrat Vote Fraud tonight, buy early tomorrow!

Not that the election is going to end tonight; if Bonzo loses, whether by 1% or 10%, Rat bastard lawyers are going to tie this up in courts for months.


13 posted on 11/06/2012 12:27:23 PM PST by PermaRag (If Trayvon had a father, he'd look just like Obama)
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To: bkepley
Coal stock is going up...hmmmm.

Lucky friend of mine invested a couple of weeks ago.

14 posted on 11/06/2012 12:27:24 PM PST by Jane Long (Soli Deo Gloria!)
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To: bkepley

[Funny, I switched 25% of my 401K last night to Energy. I guess I’m the trend setter and never realized it.]

Over the long term you won’t lose either way.


15 posted on 11/06/2012 12:28:17 PM PST by Brad from Tennessee (A politician can't give you anything he hasn't first stolen from you.)
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To: Red Badger

pull off a surprise victory????? I dont see the surprise


16 posted on 11/06/2012 12:28:31 PM PST by ronnie raygun (bb)
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To: Red Badger

http://www.johnspeedie.com/healy/flagup.wav


17 posted on 11/06/2012 12:28:38 PM PST by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both)
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To: bkepley
Funny, I switched 25% of my 401K last night to Energy. I guess I’m the trend setter and never realized it.

Oily to bed, Oily to RISE.

18 posted on 11/06/2012 12:28:59 PM PST by I Drive Too Fast
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To: Red Badger

Hope this market strength really is due to good signs for Romney, and that those signs turn out to be accurate.

There’s also an unfavorable indicator, however: gold is up sharply. One would think that an Obama re-election with an ever-increasing deficit and continued “qualitative easing” (i.e., money printing) would tend to drive gold higher.


19 posted on 11/06/2012 12:29:44 PM PST by southernnorthcarolina ("Better be wise by the misfortunes of others than by your own." -- Aesop)
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To: Red Badger

I guess this means if Obma wins tonight, the stock market will tank tomorrow.


20 posted on 11/06/2012 12:30:20 PM PST by Venturer
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To: Sarah Barracuda
The media would be “Shocked” by a Romney win but I wouldn’t be shocked..today is the day that the American people decide if they want America to be a Communist country or a Capitalist one..and I think that by the energy Im seeing from Republicans that we are going to decide that we love Capitalism!!

False dilemma spotted.

Anyway, Republicans have done a bangup job fixing this:


21 posted on 11/06/2012 12:35:23 PM PST by ksen
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To: Red Badger

Surprise, surprise, surprise! Rooters is always the last to know.


22 posted on 11/06/2012 12:37:35 PM PST by tumblindice (D-day!)
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To: Red Badger

If Romney wins, the markets are going to go wild. Investors are going to feel unleashed. Capitalist are going to capitalize our economy, and we’re all going to get richer. Energy, if allowed, could make us a very wealthy nation again. We could redistribute the wealth from nonexistent to produced. Vote Romney.


23 posted on 11/06/2012 12:42:03 PM PST by elhombrelibre ("I'd rather be ruled by the Tea Party than the Democratic Party." Norman Podhoretz)
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To: Red Badger
IMO, this doesn't mean much. Gold is up $30 today. If Romney wins, gold will fall. You can find examples on either side. If Obama wins, coal is finished, but coal is up today.

Who knows.

T is down and going down. NLY is down and going down. Does that mean Obama will win and raise taxes on dividends? Maybe we will know more tomorrow.

If Obama wins, I will predict the whole market will be down by Jan due to tax selling for the 2013 tax increases. The market going up today is a good sign if they are willing to look danger in the eye and buy now.

24 posted on 11/06/2012 12:48:14 PM PST by chuckles
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To: Red Badger

If heaven forbid Obama wins a second term, I bet the market will lose at least 600 points on Wednesday


25 posted on 11/06/2012 12:57:10 PM PST by The Great RJ
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To: ksen

How much of that productivity is due to greater use of machines, instead of humans, to do certain jobs, like in the auto industry, and some heavy manufacturing?


26 posted on 11/06/2012 12:58:09 PM PST by SuziQ
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To: Red Badger

Taxes will be going up Jan 2013 even if Romney wins AND if GOP lose senate, then, TAXES will be staying up. Fiscal cliff here we come...


27 posted on 11/06/2012 1:04:40 PM PST by Fred (http://thebubblefilm.com/)
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To: SuziQ
How much of that productivity is due to greater use of machines, instead of humans, to do certain jobs, like in the auto industry, and some heavy manufacturing?

How much of that equipment can run without human input of some kind. The same human input whose wages have been severely lagging for the past 30 years?

eta: Hi SuziQ how ya been!?

28 posted on 11/06/2012 1:06:08 PM PST by ksen
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To: The Great RJ

That’s one reason I figured we’d see a big sell-off late *today*, nobody wants to be in a long market position when a disaster of epic proportions is about to hit.

But we didn’t have a sell-off even though the trend was noticeably down after 3 PM.

Maybe traders do know something good.


29 posted on 11/06/2012 1:06:11 PM PST by PermaRag (If Trayvon had a father, he'd look just like Obama)
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To: Fred
Fiscal cliff here we come...

Why are you worried about the fiscal cliff? Don't you want government spending drastically reduced?

30 posted on 11/06/2012 1:08:00 PM PST by ksen
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To: Red Badger

Surprise victory???...LMAO!


31 posted on 11/06/2012 1:09:27 PM PST by AngelesCrestHighway
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To: dinoparty

“Not sure what they could know that we don’t. But maybe?”


I have no doubts that they get copies of the candidates internal polls from their cronies that are working on the campaigns.


32 posted on 11/06/2012 1:15:33 PM PST by RatSlayer
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To: Red Badger; All

Look at that chart. Right when the people below came out of the “quarantine room”, the market popped.

http://www.poynter.org/latest-news/mediawire/194410/exit-poll-data-will-be-examined-in-quarantine-room/

At 11 a.m. today, representatives from the consortium of news organizations that sponsor the National Election Pool will enter a “quarantine room,” where they’ll look at data gathered via exit polls, Michael Calderone reports.

Six hours later, staffers will be permitted to start sending data to their respective news organizations, while additional exit polls, especially on the West Coast, keep coming in.
The news orgs represented — ABC, CBS, NBC, CNN, Fox and the AP — can report general trends but cannot report the results of exit polls until the polls close. Anne Cronin at Politico has made a handy map showing the times at which the individual states’ polls close.

Reuters reporter Lisa Richwine says the quarantine room lacks phone or Internet access. At 5 p.m., the quarantine will lift, and the representatives will be able to share their data with their respective organizations.


33 posted on 11/06/2012 1:40:16 PM PST by AmericaUnited
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To: Red Badger
as some investors bet that Republican Mitt Romney could pull off a surprise victory

Reuters is so cuuuuute.

34 posted on 11/06/2012 2:01:40 PM PST by St_Thomas_Aquinas (Viva Christo Rey!)
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