“Wall Street greeted President Bush’s reelection with a broad stock market rally Wednesday, led by sectors thought to benefit from his policies – and potentially threatened by a Kerry administration. Shares in defense, energy, healthcare and pharmaceutical companies were among those posting big gains,” Josh Friedman and Thomas S. Mulligan report for The Los Angeles Times.
“With a stronger showing than he achieved in the disputed election of 2000, Bush is expected to quickly pursue his top legislative priorities, including creating individual Social Security accounts that taxpayers could manage on their own. Such a system could be a windfall for Wall Street powerhouses such as Citigroup and Morgan Stanley,” Friedman and Mulligan report. “Wall Street’s relief over the Republican incumbent’s victory is likely to continue in the short term, some strategists said, noting that stocks had been trading sideways since the summer amid political uncertainty and terrorism fears.”
“Technology stocks were mixed Wednesday, and it was not clear what effect, if any, Bush’s win had on the sector,” Friedman and Mulligan report. “Stalwarts such as Microsoft and Dell were up, and Apple Computer of Cupertino, Calif., hit a new 52-week high, gaining $1.81 to $55.31. But semiconductor stocks were largely down, as an industry trade group cut its forecast for chip sales in 2005. Silicon Valley Manufacturing Group President Carl Guardino said that one threat – the possibility that Kerry would make it tougher to send work offshore, a common tech practice – was eliminated by Bush’s reelection.”
Full article here.
let the political flames begin
you suck…
no, you suck… yada yada yada
George Bush will kick terrorist ass for anohter 4 years! Yes!
Hey foregin libs,
go F*CK yourselves!
For now.
The economy is great and geting better! Thank god no Kerry!!!!
I don’t think God takes sides.
Idiots
Matt Dair has sex with farm animals!
yeah… cuz he’s done such a good job of taking care of terrorism… fool!
The Dumbest President Ever for another 4 years. We should do about the same on terrorism (nothing) and on the economy (lose jobs) and on healthcare (lose care for many). Meantime, Dumbya will appoint a few new supremes to make it illegal to have an abortion. Any woman that has an abortion will be tried for murder. Also will make it illegal for blacks to vote. (the last one was a joke, but it ain’t funny)
Kareem…
The US$ is in the toilet, all your well paying jobs are being outsourced (to those f*ing “foregin”-ers) and most new jobs are minimum wage. Yeah; great economy.
Near sighted fool.
No matter which side you are on, you gotta admit that these posts can be quite amusing
Gee defense and energy stocks up? You think that might be because The Dumbest President Ever is in bed with the likes of Halliburton and Enron??? The Arab Sultans must be happy today!
Worst…president….ever!
All of you tree hugging commie liberal punks should just back off of this great president. He’s the greatest leader since Hitler!
Note that I, Jay Rice, did write this. I suspect that someone who claims to be Jay Rice may come along later and try to deny it’s me, but it really is.
Oh, and how about that huge deficit and massive debt built up over the past four years? Your great grandchildren will love that.
That’s another Bush article.
I think we can guess how MDN voted
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Long time reader.
First time poster.
Pass the popcorn please.
The lift is only temporary. It’ll fall back down since oil prices continue to rise, the deficit continues to grow and the jobs continue to disappear.
I wonder if all the lies Bush promised in 2000 will come to fruition in his second term?
Let me answer that one, no.
I have 3 draft-age nephews. I fear for them. I don’t want to see them go off to fight another bogus war for this president. It’s all about oil, money and power.
MDN shamelessly trolling for hits.
What’s the matter, Paul Thurrott just picking on linux this week?
No the stock market didn’t rally, it had a small rise of around 1% which is within the usual days range. It will probably reverse today.
The dollar fell.
As usual US media gets it wrong, headlines that Bush is good for business mask the truth. The sentiment is fairly neutral, short termers are pro Bush, long termers are worried about Bush’s policies.
The US is slipping in to debt at the rate of 6% per annum, both the consumer boom and government spending are financed by loans from countries with massive cash surpluses like China and Saudi Arabia.
The US will probably declare Saudi a terrorist nation and seize the assets (cash and oil) as a desparate measure to redress the economic inbalance.
Your more fears
Scare more foes
“The US will probably declare Saudi a terrorist nation and seize the assets (cash and oil) as a desparate measure to redress the economic inbalance.”
You managed to discredit your entire post with your last full sentence. Liberals…