Posted on 11/07/2006 7:23:35 AM PST by rightinthemiddle
Wall Street Rises Ahead of Congressional Election Results
NEW YORK (AP) -- Wall Street extended its advance in early trading Tuesday as investors awaited the outcome of congressional elections that could tip the balance of power in Washington to the Democrats.
The election could strip power from Republicans in the House of Representatives for the first time since 1994. Stocks often rally after elections as Wall Street bets change will lead to a more business-friendly environment; the theory on the Street is that a split in power in Washington will create legislative gridlock, slowing down regulatory change.
(Excerpt) Read more at biz.yahoo.com ...
Last week+ the market lost 6 days in a row when the pollsters showed Dems winning.
Over the weekend, Republicans moved up.
What d'ya know, the market went to over a 100 points.
Bring on more unions. Business loves unions.
Couldn't have asked for a better time than have 2 back-to-back days that have pushed the markets to a NEW record high for the DOW, 6 year high for the Nasdaq, and almost a 6 year high for the S&P (if we get a few more points) if the markets hold!
That's what I'm talkin' bout!
Yes, but we can count on the media to spin it into something good for Liberals.
The MSM is our number one enemy. Until the MSM is fair, our country is at risk. Sad, but true.
Plus they're thrilled with Sarbanes-Oxley.
Nor can they wait to pay their fair share of the coming global warming taxes.
Finally, businesses want to see us get back to treating terrorism, in the nuclear age, as a law enforcement problem again, just like when the Towers fell down so close to them.
Oh yeah, AP. You nailed another one. Good reporting.
America will return back to normal. /H. S.
Well, the pubbies certainly claim to be deregulators, but traders recognize that the republicans, uh, 'exaggerate' about deregulation so they settle for gridlock, hoping that each party will stifle the other's perverse notions.
More economic morons of either party in government will be good for inflationary expansion of M3, in any event, which is good for the materials sector, particularly gold. Place your market bets accordingly.
This theory about a Dem Congress causing regulatory gridlock which is good for the market has been part of the MSM financial coverage for the last several months. It's not a new card they're playing here.
Market forecasts its wishes and based on this moment's indicators. This indicates belief that our side will hold most likely and not be "wiped out" for sure.
AP = Always Propaganda
Yes, I'm not sure why the AP is reading this in the market's movements the last few days. Given that the Democrats have more or less committed to raising the dividend tax back up to pre-Bush levels if they win, any stock that's got an attractive dividend should be becoming a lot less attractive if the Democrats are poised to win. I would think that would be a more pronounced effect than some vague hope in future gridlock reducing the deficit and hence lowering interest rates.
Just look at the source. Total BS
So it could be that some Wall Street people got knowledge of internal Dem polling showing that the GOP was likely to retain control of Congress, and that triggered the bullishness of the last two days.
Just a thought.
It's a reach, but a nice one.
Oh yeah the Democrats are friendly. About as friendly as the Black Widow spider is before she has sex with the male of the species and then shazam. He is no longer needed. I mean if the Dems take over and Federal taxes at least double as the Bush cuts end in 2010 people will have less spendable income. The AP needs to stop being a shill for the Democratic party.Like that will happen.
It's not just the last few days. I've heard this "regulatory gridlock" bunk from the MSM several times in the last few months.
If the market was going down, the AP would come up with a way to spin it for the dims... The AP is so busy kissing dem butt, that they're blinded...
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