Stocks Up After Kerry Concedes

Stocks Up After Kerry Concedes (Reuters)

U.S. stocks rose on Wednesday, after a spokeswoman for Democratic challenger John Kerry said Kerry telephoned President Bush to concede the White House election, confirming Wall Street’s notion that the Bush administration would remain in place. The Dow Jones industrial average was up 151.28 points, or 1.49 percent, at 10,185.13. The Standard & Poor’s 500 Index was up 16.66 points, or 1.47 percent, at 1,147.22. The technology-laced Nasdaq Composite Index was up 31.41 points, or 1.58 percent, at 2,016.20.

While it’s tempting to say that this is because investors think Bush will be better for the economy than Kerry, it’s much more likely that this is just an expression of relief that we won’t be bogged down in endless recounts and lawsuits. If the business of America is business, we can now get on with it.

FILED UNDER: Campaign 2004, Economics and Business
James Joyner
About James Joyner
James Joyner is Professor and Department Head of Security Studies at Marine Corps University's Command and Staff College and a nonresident senior fellow at the Scowcroft Center for Strategy and Security at the Atlantic Council. He's a former Army officer and Desert Storm vet. Views expressed here are his own. Follow James on Twitter @DrJJoyner.

Comments

  1. Stocks Rally After Bush Win
    Image courtesy Editors in Pajamas. Reuters: Stocks Rally After Bush Win Herald Sun: Bin Laden to make US bankrupt More here, here, and here….

  2. Ross Judson says:

    Agreed. Bush’s fiscal policies will result in utter disaster within five years; the market will, over the next year or two, begin to take this into account. You will notice that this Administration never bothers to publish the growth numbers required to cover the mind-boggling deficit they’ve put together.

    An increase in oil prices, drop-off in demand for government bonds, increasing interest rates, and expensive wars as far as the horizon. As a bonus, we have the contempt and dislike of almost every other country on the planet.

    I’m sure the next four years are going to go much better than the past four.

  3. HAL HOFFMAN says:

    Well, I thought after the “DRUBBING” DUBYA gave the Left, and the “Media” after the shameless and relentless way they tried to destroy, demean and defame a decent and honest man, after “Michael Moore” and the “Hollywood crowd” pulled out all the stops, threatened to “Leave the US (I’ll buy the plane tickets) lied, cheated and if that did not work just made things up!! (Dan Rather, has he called the election for Bush yet?) after all that, Bush won, and he won big!!! I thought (even at my age, I guess I’m still naive) maybe the left would say: “Hmmm, maybe we were wrong, maybe the American People do have brains and can think for themselves and are Right!!” But alas, I can see I was wrong, Rush Limbaugh is right!! there is no reasoning with a Liberal!! The only thing you can do is “DEFEAT THEM” WELL…GUESS WHAT GUYS….YOU JUST GOT WHUPPED BIG TIME!!! AND NOW, AGAIN, AS RUSH SAYS, IT IS TIME TO STAND BACK AND WATCH THEM MAKE “REALLY BIG FOOLS OF THEMSELVES!!!”
    (:-)))