“U.S. stock index futures signaled a firmer opening for Wall Street on Wednesday and Treasury futures rose in anticipation that the Federal Reserve will announce more asset purchases to stimulate the economy,” Harpreet Bhal reports for Reuters.
“Market reaction to Republicans’ victory in the midterm elections was relatively muted as investors have largely priced in an outcome that is seen as a net positive for business, with the focus firmly on the Fed meeting,” Bhal reports. “Republicans seized control of the U.S. House of Representatives and strengthened their ranks in the Senate in midterm elections after voters punished Democrats over high unemployment and a sluggish economic recovery.”
“A divided Congress is seen as supportive for stocks. Critics for example of the new healthcare law, which put pressure on related stocks earlier this year, hope Republicans can spearhead attempts to repeal or not fund parts of the reform,” Bhal reports. “But the S&P 500 index has gained almost 14 percent since September, and analysts said the result was largely priced in and may raise some doubts over fiscal spending to support the recovery, leaving stocks ripe for some profit taking.”
Full article here.
MacDailyNews Note: Shares of Apple Inc. (AAPL) are up slightly in pre-mart trading to $311.30 (+$1.94, +0.63%).
I think that the message is unmistakable that the Obama agenda is dead. The question is how much of it is going to be repealed and how much will Obama be willing to concede.
Republicans are going to have de facto control of the Senate in the sense that there were going to be several Democratic senators that are going to be up for re-election in two years… There are going to be more Democrats up for re-election than Republicans in two years in the Senate, and they’re looking at the fate of those Democrats who went with the president with his agenda and walked the plank and are now gone, and they’re not going to go. And I think there will be great resistance in the Senate to any advance of the Obama agenda.
You have had a real shift of power to the Republicans, de jure in the House, and de facto in the Senate. But if you’re Republican, I think it works rather well in terms of strategy for ‘12. You really didn’t have the control of the two houses because then Obama could do a Truman where he ran against the do-nothing Congress and ran for re-election. If you put too much of the actual official power in the hands of the Republicans, it makes them responsible. Right now, I think they’re in perfect position tactically. Control the House, object, propose stuff that Obama may veto and run on that against him in 2012.
— Charles Krauthammer, Nov. 3, 2010
Phase One completed (partying over historic results still ongoing).
Phase Two has now begun…
Get out of here duffus politico rant!!!!!
This is Mac USA country! Let’s talk Apple!
BUY AAPL stocks! AAPL = $401 in 2011.
Big companies are buying up iPhone 4 in bulk!!!!!
Pelosi – what a complete assclown! Lost bigger than any House leader in living memory. LOL,
…with thanks to Sarah P.!
It’s we the people who are being played as ‘assclowns’.
A house divided cannot stand.
What’s everyone cheering for then?!
“I screwed you all, but thanks for blaming the black guy.” – George W. Bush
MacBill
He’s Afro-American, not Black.
He is one-half White and raised as a White.
He married a Black, and has Black children.
Can we now dispense with the race crap?
What a sad day for all of us, the world saw the beginning of the end of the US.
Ironic MW: future.
I always find it a little funny, and sad, watching people vote against their own best interests because they are too stupid to realize they are being lied to.
I honestly don’t know why anyone’s celebrating. Two years of absolute political stagnation to look forward to, just at the time when your country needs action. I just hope whatever fires left to burn over there don’t infect the rest of the world’s economies.
WHY HAVENT THE REPUBLICANS FIXED EVERYTHING YET!!!!????
Common Sense R.I.P we all miss you
The market should tank. We are still in the midst of the Great Republican Recession brought to you by 8 years of Bush and 12 years of a Republican congress.
I guess the people want more.
I think we should get rid of ALL taxes.
Just shut down the federal government all together.
“…with thanks to Sarah P.!”
Palin and the Tea Party certainly enhanced the “enthusiasm gap”, but Palin’s endorsements failed to guarantee success. She foolishly endorsed Fiorina in California’s primary over DeVore; Fiorina ultimately lost. She endorsed Angle and O’Donnel; both lost. She endorsed Miller in home state Alaska, and it appeared HE lost to GOP establishment write-in Murkowski. Even in a protest year, one needs to put up first-rate candidates.
And what of high-tech California? Any state foolish enough to bring back Jerry Brown (aka “Governor Moonbeam”) deserves what they get. Expect more out-migration of California businesses.
@TowerTone: “Can we now dispense with the race crap?”
It’s always touching when conservatives who normally couldn’t find a civil rights issue with both hands and a flashlight — and whose progenitors opposed the Civil rights Act under the subterfuge of “states rights” — get all sensitive-to-the-point of fainting when a liberal or Democrat says something — anything — that can be twisted into a pseudo-racial issue.
Comment from X
“Pelosi – what a complete assclown! Lost bigger than any House leader in living memory. LOL,”
Another Fox News low information voter! Nancy Pelosi won her seat decidely (80%).
DJIA at 7949 – Obama takes office
DJIA at 11066 – Yesterday
In case you are wondering where this is going, my handle is Apple’s stock price close on the day they announced the switch to intel processors, so I like this kind of stuff.
By the way, I am doing much better today than I was 2 years ago, making more money, got a new job, payed down the house, bought a new used car last week. Things are good.
The real problem is that neither party, Democrat or Republican, really cares about what’s best for this country. All they care about is staying in power. Now that the House and Senate is divided, the Republicans will block any legislation ( good or bad ) put forth by the Obama Admin just to make Obama look bad. This way they might have a chance at winning the presidency in 2012.
Yeah, it’s all about the skin color, not the quality of the ideas.
Keep deluding yourselves with that nonsense, Libs.
We finish the job in 2012!
Just say no to RINOs!
My head is about to explode over the strain of trying to figure out what this MDN post has to do with Mac NEWS??????????????
Come onnnn, there’s only one thing to care about right now . . . and that’s CONAN RETURNING TO DE CABLEWAVES dis coming Monday! ! !
Yeh-heh-heh-hehehesssssss . . .
Okay, so it’s TBS — de Jerry Brown of networks — but still . . .
As an outsider, and observer of American society, I can say one thing: there is only one reason why Barrack Obama is now the President — Americans were so thoroughly disilusioned two years ago with the 8 years of Bush presidency, they were ready to elect ANYONE else. Barrack Obama would have NEVER had a chance in any ordinary presidential election, and the reasons are most certainly NOT his fitness for the job (there were many presidents, Republican and Democrat, who were much more clueless and less fit than Obama). The primary reason he will NOT get re-elected will be precisely the colour of his skin.
Obama may have a white mother, and he may have been raised as a “White” (is there a reason to capitalise White and Black, mr. TowerTone?). However, if you ask ANY American of colour, you will find out that eventually, at some point in their life, they will begin encountering racism and bigotry. Some of them are lucky to be insulated from those things during their childhood, but by the time they get into their teens, they’ll have their first experience of being called an ‘N’ word, and from there, it only gets worse. Regardless of social progress made in America in this regard (no thanks to the conservatives, by the way), coloured people continue to be judged by different standards at all levels of society. They continue to be subconsciously racially profiled by everyone.
When Obama gets voted out of office, it will not be because of his legacy. It will be primarily because folks from the bible belt are subconsciously extremely uneasy with a president that doesn’t look anything like them.
In the rest of the world, progress generally has positive connotations, conservatism negative (holding back progress). It is amazing how in America, money and politics had succeeded in setting this on its head.
WHY HAVENT THE REPUBLICANS FIXED EVERYTHING YET!!!!????
The Republicans had everything fixed just fine when they had the House, the Senate and the Presidency. If you recall the economy was roaring, people were spending money like crazy and having a good old time.
It’s when the House and Senate fell to the Democrats and they decided to screw up the works and involve the government in sub-prime mortgages with our tax dollars.
Bush, Greenspan and McCain all warned the Congress what they were doing was wrong, giving loans to people who couldn’t pay it back, but Congress dismissed them as being anti-poor/racist etc.
So finally as Freddie and Fannie were 70x over leveraged, the Treasury Dept took them over and the Democrats howled as they saw their socialist program derailed and blamed Bush for the resulting economic collapse that followed.
After every real estate bubble there is a post real estate bubble recession. Sure the Fed created this bubble to inflate the economy out of looming deflation and years of disinflation since 1982, however real estate bubbles are SPECULATIVE and only for those who can afford to take a hit if they get caught with overpriced real estate and no buyers.
Real estate speculation was not intended for the poor/working class, however the Democratic Congress in their infinite wisdom allowed these poor/working people to get loans they ordinarily wouldn’t qualify for.
Now the result is several hundred billion dollars in losses from Freddie and Fannie, more than double of GM, AIG, and the bank bailouts combined.
The Federal Reserve is printing money and deflating the currency to pay for the mess the Democrats in Congress got us into. This makes all of us pay for their greed with higher prices for goods as all their “buddies” made out wonderfully.
Good by you socialist bastards!!!