Posted November 2, 2012 14:39
Today, we received the last jobs report before the presidential election on Tuesday. There were 171k jobs added while the unemployment rate ticked up to 7.9%. With the presidential election coming on Tuesday, there wasn’t that big of a reaction to the number because people are more focused on the outcome of Tuesday.
Many economists and market strategists agree that a Obama victory is priced into the market. So, if President Obama, wins then, I wouldn’t expect a large move in the market. But, on the other hand if Governor Romney wins, then I expect that there will be a huge rally immediately starting next Wednesday. This is because many on Wall Street see Romney as having more pro-growth and pro-business policies. People also feel that If Governor Romney wins, the recovery will pick up some steam.
It all comes down to Tuesday night, as everyone in America will be closely watching their televisions to witness the results and find out who will be the next president of the United States.
