Posted by Steven Hayward
Stock market futures are up sharply before the opening this morning. Does it tell us anything about the election? Probably not, but I thought yesterday’s flat-as-a-board market was a sign Wall Street was waiting the result before moving again.
Sure they tell you something important. They are telling you that the markets have hit bottom. As of Wed. the markets will have discounted everything due to political uncertainty. Technically the bottom was reached a few days ago when the Dow dropped to around 8K. I think this measure, compared to the 11K it was at when Sept. ended roughly tells you investors' opinion of the coming US govt. and the adverse investment environment.
Ashbrook Center at Ashland University | 401 College Avenue | Ashland, Ohio 44805 | (419) 289-5411 | (877) 289-5411 (Toll Free)