What an interesting day on Wall Street. The day George W was decided the victor indices world wide made large gains. At the opening bell, the Dow Jones jumped 180 points. At the end of the day, the down jones industrial index closed a good 101.32 points higher then it did the previous day. Bond prices fell as investors jumped on top of stocks.
The correlation with the re-election of George W and the strong day on Wall Street is due to business friendly Bush platforms. Market strategists said Wall Street was pleased with the outcome. There was evidence of world wide confidence of Bush with the gains in global indices.
Relief set in as a clear victor was named promptly following election day. In 2000 the official results of the Presidential Election took a month leaving investors unsettled. The rally today may be a bit temporal however, as some analyst speculate that other news regarding labor, oil, and other factors will damped the optomism.
A clear positive was seen in the drug sector. The Bush’s administration is expected to reduce the threat of government-imposed price cuts on drug makers. John Kerry said he wanted Medicare to negotiate price cuts on drugs. Threatening profits to the drug sector. Today turned out to be a strong day for the economy, but will these rallies continue, or are domestic and foreign problems too great to overcome?