Was This Week’s Market Surge a Romney Rally?

Posted on June 8, 2012 by

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The economic fundamentals are unchanged from last week

Last week was terrible for the market, especially Friday when the DOW plunged on poor jobs numbers. It closed last Friday at a loss for the year. The surge this week, with the market up more than 3% seems inexplicable. Europe is still on the brink, our economy still looks bad. There was also a spate of bad news for the Obama administration:

  • The jobs report last Friday: Unemployment up.
  • Scott Walker won the recall vote in Wisconsin: Unions down.
  • Bill Clinton and other key democrats contradict the President’s message.
  • The President’s gaffe at a press conference: “The private sector is doing fine.”

Some are suggesting that the economy and the market are out of sync (economy down/market up) because all the bad news makes a Romney presidency more likely.

They’ve been talking about this all week on MSNBC. There’s also an article about it at the NY Sun.

Posted in: public policy