Results tagged “postelectionrally”

Though stock markets soared yesterday (the Dow went up 3%), stock futures have fallen, dampening any thought of a post-election rally. Sure, investors are wondering about President-elect Obama's economic policies when he takes office, but there's also today: ADP, which handles payroll services, announced that there were 157,000 job cuts last month, "the most in almost six years," according to Bloomberg News. A strategist at Newedge Group told CNBC, "This is another, if I may use my term, 'fally', which is a rally based on fallacy … the rally of a new presidential election. Nothing is changed. The US economy is deteriorating day by day. There's no reason to rally right now." There goes our post-election buzz.