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USA Today: The Dow has rallied 17% during 5 day session since Obama economic news conference

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sabra Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-01-08 11:06 AM
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USA Today: The Dow has rallied 17% during 5 day session since Obama economic news conference

http://www.usatoday.com/money/markets/2008-11-30-obama-stock-market-economy_N.htm

President-elect Obama's actions perk up stock market

NEW YORK — President-elect Barack Obama hasn't even moved into the White House yet. But Wall Street is already showering him with praise for injecting confidence into the battered psyche of investors and working quickly to hatch a plan meant to jolt the economy out of its worst funk in decades.

A market that two weeks ago was desperate for political leadership and a clear strategy to repair the economy appears to have found it in Obama, who is fast emerging as a decisive economic commander in chief.

Stocks soared last week after Obama moved aggressively to fill the power vacuum until he's sworn in and demonstrated his commitment to dig the USA out of its economic rut.

The Dow has rallied 17% during its current five-session win streak — its best five-session run since 1932. The rallies coincided with Obama-related news and public appearances where he introduced his economic dream team and sent a clear message that he'll do whatever it takes to repair the economy.
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rockymountaindem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-01-08 11:07 AM
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1. Well, not today n/t
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golddigger Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-01-08 12:13 PM
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2. Huh...Dow down -381.99...4.33%...
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