Interestingly, the Dow was off nearly 500 as of yesterday.
No clue as to why . . . maybe the 18% gain since October 10th is as good an explanation as anything else ?
Perhaps John Mayer has some insight.
Also, a re-post of the following: A Look Back at the past 18 Elections – See What Elections Have Meant to the Economy Over the Past 72 Years (click here)
In “Presidential Cycle,” Ned Davis Research notes the S&P; 500 posted its weakest returns in the first year of the four-year election cycle. Since 1900, stocks have gained just 3.4% on average in the post-election year, compared with gains of 4.0% in the midterm year, 11.3% in the pre-election year and 9.5% in an election year.
U.S. stocks tumbled for a second day today after Cisco Systems Inc. forecast the first revenue decline in five years and News Corp. cut its profit outlook, deepening concern the economic slowdown is hurting earnings. Exxon Mobil Corp. slumped 4.9 percent, leading energy companies to the biggest declines in the Standard & Poor’s 500 Index, as oil slid to a 19-month low near $60 a barrel.