“U.S. stocks were poised to open higher Wednesday, as Wall Street cheered a number of Republican election wins ahead of the Federal Reserve’s latest policy meeting decision,” CNNMoney reports. “Less than an hour before the open, S&P 500, Nasdaq-100 and Dow Jones industrial average futures were higher.”
“Wall Street ended a volatile day mixed on Tuesday as investors digested rising commodity prices and Warren Buffett’s buyout of railroad Burlington Northern Santa Fe,” CNNMoney reports. “But positive market momentum appeared as investors were encouraged by several Republicans victories, including the governor races in both New Jersey and Virginia.”
CNNMoney reports, “More broadly, the wins reflect a sharp rebuke by Americans of current policies in Washington, including massive spending programs that have helped grow the federal deficit. ‘The election results suggest that perhaps the referendum of the Democratic Party, more specifically President Obama, is being challenged in the marketplace,’ said Mark Luschini, chief investment strategist at Janney Montgomery Scott.”
“Still, much of Wednesday’s focus was on the outcome of the Federal Reserve’s two-day policy meeting, set to conclude Wednesday afternoon,” CNNMoney reports. “Investors have been nervous about the economic recovery recently and have been anxiously awaiting some guidance from the central bank about how it plans to remove billions of dollars in stimulus funds it has poured into the economy in the wake of the financial crisis.”
CNNMoney reports, “Investors will be looking for clues in the Fed statement, which is due to be released at 2:15 pm ET. The central bank is widely expected to hold the fed funds rate, a key overnight bank lending rate, at historic lows near 0%.”
Full article here.
MacDailyNews Note: In early trading, shares of Apple Inc. (AAPL) are up $2.605, or 1.38%, to $191.355.
Oh, gag me with a teaspoon MDN.
Ha! Take that Microsoft. Wait… what?
Yep, celebrate the idiots that let Wall Street run riot, but then the Hopium democrats bailed the m^&%$^&s;out.
Two sides of the same double headed coin.
Question is, would Wall Street also cheer a number of Democrat election wins? Kind of like Apple stocks up until this year: they went down with bad news, but they also went down with good news.
And welcome back folks to RightWing<strike>Mac</strike>DailyNews.com ….
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I’m sure the big banks and big insurance are sure happy to see Republicans back in office so they can steal billions from taxpayers AGAIN.
Rasmussen Poll – If Election Were Held Right Now, Obama Loses:
http://tinyurl.com/obama-loses-today
Yeah, GOP governors in NJ and VA are really going to boost the economy. Take that, commies.
BAG COMMIE
Watch ABC TV’s “V,” think Obama, and become enlightened.
If you believe that headline, then please wire transfer me all your money so that I can “invest” it.
I guess today MDN is going to be political daily news so I guess I’ll digest my tech news elsewhere today.
@G Spank
The banks got big bail out money and big pay increases under Bush and Obama…. Obama talks about cracking down on them… but does not do very much about it… especially for Goldman Sachs, and JP Morgan….which apparently are untouchable.
It appears both parties are working much more for Corporations and Big Banks… Look at all the the donations they take from Big Banks.. especially Obama.
Was Wall Street also cheering the election of a Democrat in NY-23? It’s the first time a Democrat has been elected there since the 1800s.
They say all politics is local. I think that especially held true for Jon Corzine. NJ has the highest property taxes in the nation and although he pledged to reduce them, he didn’t.
You won’t read it on MDN or CNN Money, but CNN’s news side reported last night that exit polls indicated voters approve of Obama by 57% in New Jersey and 52% in Virginia.
What changed from last year’s election is that the coalition of young people and other traditionally nonvoting groups who were motivated to vote for Obama in 2008 didn’t go to the polls in 2009.
There also appears to be an anti-incumbent wave at work. In my hometown voters just kicked out an incumbent mayor and city commissioner.
So it goes. I’m more enthusiastic about the Breeders Cup races this weekend. Go Zenyatta!
Islandgirl,
Nice fantasy, but the vote was split. Add the Republican and Conservative votes in NY-23 and the Dem loses again.
Explain this away:
Rasmussen Poll – If Election Were Held Right Now, Obama Loses:
http://tinyurl.com/obama-loses-today
@Reagan
The same thing would have been true for both Bushes.
The vote is always going to swing away from the incumbent president party. Happened with Clinton and GW. Both lost control of the house and senate during their terms. This is American politics, voters don’t like one party have total control for long. I bet the Dems will lose control of congress in the next major election in a years times.
DogGone,
Incorrect.
“The 2002 midterm elections proved that no generality in American politics was absolute. Although a first-term president’s party had not gained ground in midterm elections since 1934, Republicans in 2002 increased their narrow margins in the U.S. House and regained control of the U.S. Senate with Pres. George W. Bush taking the point… On election day Republicans picked up six seats in the House, expanding their advantage to 229–206. More important, the GOP recorded a net gain of two Senate slots, including the Minnesota seat, to take control of that body.”
http://www.britannica.com/EBchecked/topic/1517847/The-US-2002-Midterm-Elections
Election recap: 1. VA always votes the other way after pres election. 2. NJ the Goldman Sachs guy lost. 3. NYC – Bloomberg bought a 3rd term. 4. NY – Dem wins for first time since Civil War. 5. CA – Dem wins again. 6. ME – the gay marriage battle goes on. 7. These were local elections. 8. Everyone is concerned about the economy.
And Reagan Revolution II Coming: What does that mean, you want another president that helped dramatically balloon the federal deficit to help rich people? Niiiiiiiiccccceeee.
And Rasmussan? You can trust their polling about as much as you say Cluster Fox News is objective.
What is there to cheer? The Republicans won the gubernatorial races, yeah, but the Democrats won the House races.
Nancy Pelosi now has two more Democratic votes to pass her health care bill. And one of them is a seat that hadn’t gone Democrat in over 100 years.
I want Reagan II, without the need to outspend the USSR to win the Cold War.
Lower taxes and much, much, much less government spending.
Obama’s totally out-of-control, irresponsible spending will kill the Democratic party for at least a generation.
Use our taxes for our infrastructure (roads, electric grid, alternative energy, border control) which benefits all citizens, including the actual taxpayers for a change.
Elsewhere, just get the hell out of the way (kill Cap and Tax, for example, which does nothing for the environment and is just a massive money grab) and let the US economy roar.
That’s what I want.
The WSJ and the NYT have both recently published articles about The Presidency and Ownership.
The WSJ article talked about at what point do you ‘own’ what’s on your plate vs. blame the person before you.
The NYT (yes the times) article was more about how people in Iowa who voted for our current president do not feel he is living up to his promises.
Both articles had a similar tone in that they said it seems as if the current administration is still hiding behind the past administrations choices. (excuses)
Regardless of how one feels about either party/candidate, a time comes when you have to ‘own’ the job you were hired for or ran for, and poll #’s show that people feel the current administration needs to start owning things, that they are making excuses.
I myself think much of it is it is easy to say i’ll do X, Y, Z during a campaign, and criticize others, but when you get the golden ticket you also get NSA briefs and other wake up calls on that day in late Jan.
Short version is, if the current Administration is going to be credible with a majority ( a real one not 51/49…think 70+) it needs to start ‘owning’ things.
Personally I want America to do better, but when Americans, who often have short memories, start seeing things as ‘excuses’ vs ‘were working on it’ and during a time when the house and senate are also all on the same side of things, yet things don’t change, people think ‘excuses’.
Personally I think the current president can excel if he stops letting his party in congress derail his agenda and speak for him. I think he is smart enough to know he has to go left center to get stuff done, but IMHO his own party is killing him with their all left thinking.
Ex = UniHealth is a debate for another time, but regardless using a partisan vote to force it thru (1900+ unread pages) will just start a backlash with voters. If things don’t change every round of elections will look like this. When you on top it’s ‘yours’ to lose. This is when the ‘I voted for X because I don’t like Y’ mentality starts up…and that is never a real solution… United we stand, divided we fall.
No one has a monopoly on the U.S. flag.
Let’s pray that this will stop the spiral into the drain of socialism.
The ‘BigO’, has become the ‘Big 0’.
Falckman,
Appropriate name. Rasmussen is historically one of the most accurate pollsters available. Don’t shoot the messenger just because you don’t like hearing the truth.
Flackman made the essential points, although I’d add that in NJ the single most important factor was unemployment: highest in 30 years. Further, Corzine actually finished much higher than the polls have shown all year – long before the fact-free crazies began shaking their pitchforks and teabagging each other. So if you want to engage in this fatuous enterprise you could argue more persuasively that Obama’s and the Dems’ popularity have been increasing in recent weeks.
If, in fact, investors *are* reacting to the Republican victories by sending shares up, I’d recommend a quick course on short selling – in particular, you’ll make money short-selling anything that Goldman recommends you buy. (That’s how they’ve been making their money lately.)
I think I’ll head over to the Fox website and see if there’s any Mac news.