I really think when you talk about pocketbook issues that affect the electorate, people think about the Nasdaq (composite index) and the Dow Jones (industrial average). If we got another rate hike and the market sold off on that, I think people would be displeased. If there's no rate hike on August 22 and the market rallies, you've got to say that helps (Al) Gore.
More Quotes from Greg Valliere:
Members of Congress, especially Republicans, are beginning to realize that around the country, even among their supporters, they're being viewed as dysfunctional, unable to get anything done. So I think the Republicans are starting to come together, at least a little in the Senate on immigration.Greg Valliere
The Wall Street types want to make the United States attractive for investment, and a strong currency attracts investors.
Greg Valliere
Any points the President can score in the market these days are welcome. One of the oldest cliches about the market is that it hates uncertainty, ... And uncertainty has certainly been intensified by the all this public debate over Iraq within Bush's inner circle.
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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
One of the big stories coming out of this is the inability to get anything done in the next two years. Therefore ... the budget surplus is going to pile up dramatically because Congress won't agree on big tax cuts or big spending hikes.
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
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