Stock Market Information

It looks like voters aren’t the only ones predicting change as the presidential election voting kicks off. Wall Street, for it’s part, is also enjoying an election day rally today, looking past the recent economic data that’s been a bit doom and gloom and hoping to put the uncertainty of the upcoming election behind them. At present, the Dow is up about 300 points, and other indexes are up over 2 percent.

Of course, judging by recent volatility, it’s still much too early in the day to decide whether this rally has legs. I’m also curious to find out how the markets will react to the winner of the presidential election. Although historically speaking Democrats are better for the economy in the long term, Democrating nominees tend to cause downturns in the short term in the market, likely due to the fear of increased regulation and government intervention. Although given the current slew of government take overs and bailouts, I’m sure that’s a muted fear at this point.

Some analysts, like Matt King, chief investment officer of Bell Investment Advisors, sounded particularly optimistic:

“It’s pretty typical of how bear markets end, “The stock market recovers well ahead of the economy.”

Let’s hope so.