Thread: Dow Reaches New High on Election Results

Nov 08 4:12 PM US/Eastern

By TIM PARADIS
AP Business Writer

NEW YORK

Wall Street ended higher Wednesday, with the Dow Jones industrials setting another record close, as investors grew more confident that a huge victory by Democrats in congressional elections would result in gridlock and keep lawmakers out of the way of business interests.

The market had largely expected Democrats to gain control of the House of Representatives, but an undecided Senate race in Virginia had earlier unnerved investors who dislike such uncertainty. Stocks showed gains after the resignation of Defense Secretary Donald H. Rumsfeld.


"I would think over the next several weeks that investors should return their focus to the likelihood for interest rate moves in the decelerating economic climate, the moderating earnings growth and the weakening housing market," said Elizabeth Weymouth, global investment specialist at JPMorgan Private Bank.

According to preliminary calculations, the rose 19.77, or 0.16 percent, to 12,176.54. The Dow closed above the record of 12,167.02 set on Oct. 26 and came within a few points of a record trading high of 12,196.32 reached Tuesday.

Broader stock indicators also advanced. The Standard & Poor's 500 index was up 2.88, or 0.21 percent, at 1,385.72, and the Nasdaq composite index rose 9.06, or 0.38 percent, to 2,384.94.

http://www.breitbart.com/news/2006/11/08/D8L94GJ80.html

Wall Street ended higher Wednesday, with the Dow Jones industrials setting another record close, as investors grew more confident that a huge victory by Democrats in congressional elections would result in gridlock and keep lawmakers out of the way of business interests I think this should have said, that Big Business is happy that they will try and open the borders and let all the cheap labor flow in.

Originally Posted by Scubayons

Wall Street ended higher Wednesday, with the Dow Jones industrials setting another record close, as investors grew more confident that a huge victory by Democrats in congressional elections would result in gridlock and keep lawmakers out of the way of business interests I think this should have said, that Big Business is happy that they will try and open the borders and let all the cheap labor flow in.

You get it my friend. Something that won't be recorded in your typical American daily unfortunately. Big business is salivating at the prospect of finally being able to lay off the remaining American middle class.