Is the Stock Market Anti-Obama (or Vice Versa)?

As the S&P 500 has climbed steadily upward over the past 14 months, so have the prospects for House Republicans.
Here’s a look at the S&P 500 along with the Intrade contract for the GOP to win the House of Representatives this fall.
Just recently, the GOP’s contract hit 50 for the first time. For the record, I don’t think it means anything. Both the state of the GOP and the stock market had just gotten battered, and both have regressed to the mean. That’s all that’s going on.
I’ve tried to warn investors not to read every bump and tick in the market as a political statement (see Kudlow, Larry for details).
But still, it’s an interesting correlation.

Posted by on April 30th, 2010 at 2:30 pm

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