Election 2008

When McCain talks, Wall Street Listens.

I know its the old H&R Block commercial ... yes I'm that old.

but here was the chart of Wall Streets movement yesterday ... that big dip there just before 4pm ET? That happens to coordinate with the time that McCain announced that he was going to suspend his campaign to go back to Washington and put the country ahead of his Presidential bid (that the first little blip) ... the second, lower blip, is when the first statement from Obama came that said that it was wrong of McCain to go back .... that means that Wall street had less confidence if BO took office in my opinion .... but that little surge at the end? that corresponded to the first reports I heard that the President was 'asking' both McCain & Obama along with party-leaders to the White House to get something going here.

So ... yes ... Wall Street is listening to the election - and they should ... but it seems like they have more confidence in McCain than Obama - and no I don't think its because they think they will be able to get away with more ... I think they just think he will do what is really needed to kick start the economy (i.e. cut taxes)