Tag Archives: Bush
Five days have passed since the first presidential debate, and it’s now clear the race is tightening. The CNN/USA Today/Gallup poll, which had previously given President Bush an eight-point edge, now shows a 49%-49% tie.
I’ve cautioned you lately that the stock market’s rally off the August lows was running out of steam. A pullback lasting more than just a day or two was becoming almost inevitable. Yesterday’s sharp drop provides a strong hint that the “correction” has started.
Yesterday’s sharp stock market rally brings home a point known to every veteran investor: In the short term, the market can do anything. After a weak opening that seemed to hint at a signficiant breakdown, stock prices soared on news that President Bush plans to reappoint Alan Greenspan as Federal Reserve chairman in 2004.