Thu, Jul 24, 2014, 12:52 AM EDT - U.S. Markets open in 8 hrs 38 mins

Recent

% | $
Click the to save as a favorite.

Intel Corporation Message Board

  • wallisweaver wallisweaver Nov 7, 2012 10:48 AM Flag

    Dismayed at Obama Win but…Good for Stocks: Gartman

    Barack Obama’s re-election as President of the United States was unexpected and is disappointing, but will in all likelihood boost stock markets, Dennis Gartman, founder of the Gartman Letter told CNBC Wednesday.

    “I’m a bit surprised and dismayed but it was a very close election – just 1 million votes between the two candidates. There’s very little change in Congress and the Senate (which) means that things are the same,” Gartman said.

    Gartman had predicted a decisive win for Republican Mitt Romney earlier this week believing Romney could win “quite handily.” He had noted a number of historical parallels which pointed to a likely Romney win, claiming the polls were “badly out of touch.” Polls had in recent days shown a small but clear lead for Obama.

    He did however have a strong caveat to his prediction claiming he could be “terribly wrong.”

    “History proves that Democrat presidents are better for stock prices than Republican presidents and I suspect that the bull market that’s been intact since March 2009 will continue to move higher as the monetary authorities expand reserves in the system,” he said.

    He conceded that the economy was making strides forward under Obama’s presidency.

    “The economy is doing better and in a year’s time we could even see GDP (growth) of 2.5 to 3 percent. That is supportive of the stock market and one could be bullish on shares,” Gartman added.

    Sentiment: Strong Buy

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
INTC
34.50-0.29(-0.83%)Jul 23 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
Xilinx Inc.
NasdaqGSWed, Jul 23, 2014 4:00 PM EDT
TripAdvisor Inc.
NasdaqGSWed, Jul 23, 2014 3:59 PM EDT