Special Report on
Barack Obama, Stock Market Strategist
Barack Obama, Stock Market Strategist - Trends
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Obama got everyone pretty excited on Wednesday by suggesting naively we'd have a good employment number Friday. He probably knew the number already but was uninformed as to what markets were expecting. Obama Says He Expects Strong US Jobs Report Friday By Jared A. Favole WASHINGTON -(Dow Jones)- President Barack Obama, speaking Wednesday at Carnegie Mellon University on the economy, said he expects strong job growth to be reported Friday." That statement posted in the afternoon Wednesday led to the late day market spike and caused many forecasters to adjust their expectations to as high a new jobs number as 700K.
The American president on the American stock market: "The stock market is sort of like a tracking poll in politics. It bobs up and down day-to-day. And if you spend all your time worrying about that, then you're probably going to get the long-term strategy wrong." Me: This is so wrong. We are not talking here about an adverse market reaction to the government economic report of the day. Stocks are off a terrible 30 percent since Election Day thanks to four months of sustained and brutal selling pressure. Week after week, investors have looked at stimulus plans, bank rescue plans and ... Read More
SURVEY RESULTS FOR
BARACK OBAMA, STOCK MARKET STRATEGIST
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