November 3, 2004
11,000 BY CHRISTMAS:
U.S. stocks set to rally on likely second term for Bush (Mark Cotton, 11/03/04, CBS MarketWatch)
U.S. stock futures are pointing to a sharply higher open Wednesday as George Bush appeared well-placed to win another four-year term as President of the United States.Posted by Orrin Judd at November 3, 2004 9:35 AMDow futures rallied 132 points, to 10,160, Nasdaq 100 futures climbed 26 points, to 1,524 while S&P 500 futures rose 15.30 points to 1,145.90.
"The friendlier candidate for the market seems to be on his way to victory, barring any contested situation in Ohio," said Peter Cardillo, chief market analyst at S.W. Bach.
Over at Windham Financial Services, Chief Investment Strategist Paul Mendelsohn says the question now becomes whether stocks can break out of their current trading range and start a new "bull market."
I don't predict the market, but I'd be surprised if this turns out to be true as long as petroleum stays twice as expensive as it was in January.
Posted by: Harry Eagar at November 3, 2004 1:55 PMBy the way, are any of you guys buying $82,000 (face value) of Iraqi dinars for $40? For when the oil flows?
Just curious.
Posted by: Harry Eagar at November 4, 2004 4:30 PM