Thursday, March 26, 2009
S&P, Nasdaq, now positive since Obama inauguration, Dow closing in
Both the Nasdaq and the S&P 500 have recovered all of their losses since Obama's inauguration (Nasdaq's up 9%) and the Dow is within a hair of doing the same thing.
Where are all the Conservative critics who were gleefully pointing out day after day that the market did nothing but go down following Obam's swearing in? Dick Morris, where are you? John Boehner, where are you?
Could it be? Will the president's policies, which include higher gov't spending, really starting to work? The markets think so.
Expect the Republicans to start taking a different tack now. They will say, "Yeah, this is temporary, but just wait to see. Obama's policies will bankrupt the nation." (Judd Gregg has already stated this.)
By the way, it took the stock market 22 months to recover after Reagan was elected--20 months longer than the Obama recovery.