Was This Week’s Market Surge a Romney Rally?

Posted on June 8, 2012 by


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