http://money.cnn.com/2008/11/04/markets/election_reaction/index.htm

Quote :

""The international markets are certainly celebrating an Obama victory," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "From the world perspective, Obama is perceived as a better candidate and I think they are voting with their dollars.""

11/5/2008 2:33:34 AM

Yeah, I mean it couldn't be that the US market has been steadily rising the past few days. We had a what, 300 point gain yesterday? Before any election results were back. Yeah... most investors, at least the smart ones, are tepid about Obama, as in they will wait and see.

11/5/2008 2:55:56 AM

they are liberal, why wouldnt they be happy

11/5/2008 3:02:34 AM

^^

Quote :

"Yeah, I mean it couldn't be that the US market has been steadily rising the past few days. We had a what, 300 point gain yesterday? Before any election results were back. Yeah... most investors, at least the smart ones, are tepid about Obama, as in they will wait and see."

that's some iraqi information minister shit right there.

[Edited on November 5, 2008 at 3:04 AM. Reason : .]

11/5/2008 3:04:19 AM

What? How so? Please explain, I'd love to hear it. World markets stabilized last week, and did well on Monday and Tuesday. Did the DOW not rise over 300 points yesterday? Before any election results were in? Could that not have an effect on other markets? You have a few talking heads saying that it is because of Obama, I am saying that there is a lot more to it than that. A level headed investor in Japan isn't going to start buying because Obama was elected president in the USA. Now THAT is some Iraqi information minister spin right there

11/5/2008 3:18:53 AM

No one here has enough time to give you a full stock market 101 education.

so suffice it to say that you have absolutely no idea what you're talking about.

11/5/2008 7:16:01 AM

In other words, "I don't know why, but because I said so" Excellent!

Oh, and most of the major European markets are down today.

Obama wins, so stocks rise. Yeah, please educate me on that one. Oh wait you can't.

11/5/2008 7:26:33 AM

I dont see international markets doing anything overly positive, am I missing something?

FTSE 100 -84.18 -1.81% 4,555.32
XETRA-DAX -65.49 -1.24% 5,212.55
CAC 40 -74.30 -2.01% 3,616.79
HANG SENG +455.82 +3.17% 14,840.16
NIKKEI 225 +406.64 +4.46% 9,521.24

11/5/2008 9:30:31 AM

this could be the worst thread ever

11/5/2008 9:56:42 AM

Various folks have regularly quoted that correlation does not imply causation. Here, I don't think we even have the causation part down.

11/5/2008 9:59:16 AM

You mean the correlation part

11/5/2008 10:03:54 AM

even our own markets are down

because this was a poor decision for President

11/5/2008 10:04:49 AM

Actually it has more to do with:

http://money.cnn.com/2008/11/05/news/economy/challenger_adp/index.htm?postversion=2008110509

As far as Obama's presidency having anything to do with it:

http://money.cnn.com/2008/11/05/markets/markets_newyork/index.htm

This article is saying that the markets have already moved on from his win. They're falling because the economy is still in the same shitty situation it was a week ago and, despite the excitement of the election, they've had to pay attention to that fact once again. The markets already built in most of whatever effect they'd have had in reaction to his election in the first place. Since futures markets had his election trading at over 80 a day beforehand, most investors had already hedged their bets for the effect of his win.

11/5/2008 12:09:35 PM

down almost 500 today

11/5/2008 5:41:52 PM

The markets typically look 6-9 months ahead at a minimum. His election victory shouldn't have had any bearing on the stock market either way. If it had an impact, it was a few weeks ago when his inauguration became a foregone conclusion.

11/5/2008 5:46:31 PM

Well, I'm sure it has nothing to do with the fact that markets are up 10-11% over the past week.

11/5/2008 5:52:15 PM

^^ In a rational, stable, efficient market perhaps - but this market has been anything but rational the past 14 months.

11/5/2008 6:00:19 PM

if anything, the mere fact that the election is over should give world markets a breather. I heard on NPR the other day *OMG LIBERAL BIAS!!!* that some of the recent stock and economic turmoil could be directly traced to the election, as companies and investors are often squeamish when there is a guaranteed regime change. Obviously, the housing crash is not a result of that

11/5/2008 6:01:41 PM

Many experts have been predicting that the bottom is yet to come, and Circuit City shutting down (despite their piss poor management otherwise) could be a sign of this.

It would be foolish to look past the potential of real problems to say "OMFG LOOK WHAT OBAMA DID" when he's only been president-elect for less than a day.

ESPECIALLY considering how people on the right were all about the whole lag effect, and blaming the 2000 era slow down on Clinton.

11/5/2008 6:04:57 PM

i think that Obama and McCain policies would both extend the slowdown we are seeing right now, but only because they would perpetuate the problem and not allow it to correct itself. but, that's another topic entirely. I can't fault Obama too terribly for his proposed response to the housing crisis, because it was essentially the same as McCain's.

11/5/2008 6:09:16 PM

opposing the bailout was mccains last hope for the presidency. imo

Obama would do wonders simply by saying he isnt going to touch capital gains rates

11/5/2008 8:50:18 PM

^saying it, or actually doing it?

11/5/2008 10:19:24 PM

Jeez teg, would you just get over it. We all know your position, stop putting all your lame sarcastic comments in every thread you can from here to chit chat and beyond. Have you been crying all day long about this?

11/5/2008 10:25:59 PM

http://edition.cnn.com/2008/BUSINESS/11/06/markets.asia/index.html

Yeah, that went well.

11/6/2008 6:19:19 AM

The markets move by a collection of the smartest people in the nation and then about 100 million more.

If the markets moved up because Obama was elected, then people would have know about this before hand and bid everything up before the event itself happened. Heck, it's easy to chase your tail in a logic circuit that basically says that at every moment regardless of the news or real data, the market is equally likely to move in either direction.

11/6/2008 3:35:44 PM

since the election of obama the US market has fallen over 700 points in two days. the biggest market drop post election since 1900.

obama's election, at least initially, is not providing the market with the stability it wants. probably worried about possible tax increases and other things of that nature.

not pointing this out necessarily as a rant, well maybe a little, but obviously he isn't in office yet. does show that he will have plenty of work ahead of him though to prove to at least some of the market that he isn't going to hike their taxes a ton.

11/6/2008 3:39:01 PM

You are aware that there is an existance outside the US Presidential election, right?

11/6/2008 5:12:50 PM

If people are worried about increased taxes in the form of capital gains, then they could wait much longer to sell while still cashing out at the current rate.

11/6/2008 5:18:42 PM

The market's factored in a Democratic victory a long time ago.

This thread is empty.

11/6/2008 5:37:15 PM

Is Obama responsible for the cheaper gas too?

11/6/2008 11:34:33 PM

I don't think the markets factored in a dem win as extreme as what we just saw. We knew they were going to win big, just not how much.

11/8/2008 10:54:44 AM