The market seems to like Obama's pick of Treasury Secretary: NEW YORK (CNNMoney.com) -- Stocks rallied Friday, with the Dow industrials bouncing as much as 550 points, after reports surfaced that President-elect Barack Obama will nominate New York Federal Bank president Timothy Geithner as his new Treasury Secretary. The Dow Jones industrial average (INDU) rose 494 points, or 6.6%, according to early tallies. It was the fifth-biggest single-session point gain ever, according to Dow Jones. The Standard & Poor's 500 (SPX) index gained 6.3% and the Nasdaq composite (COMP) added 5.2%. http://money.cnn.com/2008/11/21/markets/markets_newyork/index.htm?postversion=2008112115
Since May it has been falling http://finance.yahoo.com/q/ta?s=^DJIhttp://finance.yahoo.com/q/ta?s=^DJI
Sorry guy's we have all imagined the stock market slide over the past year as David say's it hasnt happend, it is all happend since Obama won.
lol Ya know, I am partaking in an old American tradition...I am going to give the new President 100 days in office and then, on day 101, at approximately 1 minute after midnight, I will start complaining and calling for his impeachment. It was fine to bash and whine and moan during the election cycle. But, there will be plenty of time to blame all the ills in the world on him after he takes office. Just look at Bush. We have 4 to 8 years. Why jump the gun?
Everything you guys have typed just proves my point. Market performance is all about confidence. The drop in the markets is in direct correlation with the rise of Obama's prospects of becoming President. I understand the 100 days thing but if you we wait too long to demand action (the action he promised on Day 1) it will be too late. 100 after his inauguration will be taking us into 2010 if you accept the premise that the market is a reflection of future confidence in our leadership and the economy.
Itis also in corelation with the opening and closing of wall St, plus the rising and setting of the sum as well as the changes in the tides
