The combination of fiscal and monetary stimulus right now is the largest I've seen in years, ... It's good for GDP. If the economy starts to hum, stocks should do well.
More Quotes from Greg Valliere:
The Red Sox won four games in a row after being down three nothing, so anything is possible,but I think the markets would perceive this as a long shot. I think at some point today (Wednesday) Kerry and his people get together and decide they don't want to be perceived as sore losers.Greg Valliere
You've got a recession in the auto and computer industries, you've got inventories piling up, you've got mediocre consumer spending, you've got a terrible stock market. I think the time to cut rates is now and I think they are in a good position to do it. If the Fed shows tomorrow that they realize this economy needs stimulus, I think it would be a wonderful gift for the stock market.
Greg Valliere
He needs to restore investor confidence, ... It's extremely unlikely he would say anything that would be viewed negatively by the markets. He's going to make it clear that we are not looking at the abyss and we are not looking at a major recession.
Greg Valliere
That's the question, certainly, for all our clients on Wall Street. They're resigned to Clinton getting re-elected, but the real issue is if it's not by 10 points, but by 18 or 19 -- if it's the latter, then I think certainly the House will go Democratic, ... The Senate is a tougher case to make, but in a blow out, even the Senate could go.
Greg Valliere
We'll probably get more rate cuts tomorrow, but I think you will probably see something on the fiscal side too. You may even get a little more on the tax side. Even Democrats agree that we might need a payroll tax cut,
Greg Valliere
Politically this is very, very clever, ... It puts the White House on the defensive on the whole issue of job outsourcing. There could be some Republicans (in Congress) intrigued by this. But it's way too premature to assume it could be enacted.
Greg Valliere
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