| DOW | 9319.83 | | -5.18 | -0.06% | | NASDAQ | 1726.33 | | 5.38 | +0.31% | S&P | 966.3 | | -2.45 | -0.25% | | | | | | Rick Santelli, CNBC "On-Air Editor" I think it is great that so many people have gotten excited about the upcoming election. We are living through historically tough times and the electorate wants things to get better.....especially regarding the economy. Yet realistic expectations will return on Wednesday along with the election returns. Again we will all rediscover that much of what ails the U.S. and the globe HAS NO SILVER BULLET no matter how the politics play out Tuesday...at least in the near term. There will be a new cabinet, new advisors, new economists that will have to deal with much of what has already been fleshed out by the current treasury secretary and fed.
As a market "guy" I would recommend paying very close attention to Wednesday's treasury announcement on the amount of securities the treasury must sell to pay for what is already on the books----never mind the programs we haven't heard about yet from our newly elected leaders.
| | | Can Infrastructure Spending Save U.S.? As soon as the election is over, law makers are expected to turn their focus to a new fiscal stimulus package regardless of who wins the presidency. Citi Global Wealth Management Chief Investment Officer Edward Kerschner says if the past is a guide, the best solution will be to include infrastructure investment in that package....read more | | | | 1. US Stocks: Stuck at the Bottom for Next Five Years? The U.S. markets may see sideways movement down at the bottom for the next 3 to 5 years, says Ron Ianieri, chief markets strategist at the Options University, as he has noted an "ABC" pattern to the charts. He tells CNBC's Martin Soong more. | | | | 2. Cheap Oil Era Is Over: BP CEO "The era of cheap oil is over, the era of cheap energy is over," Tony Hayward, CEO of BP, told CNBC in an exclusive interview. As the world will start growing after the recession, energy prices will go up again, he said. | | | | CNBC.com BLOG OF THE DAY | | | |
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