The Economy:
November 2, 2008
Stocks likely to recover no matter who's president
MADLEN READ ASSOCIATED PRESS
NEW YORK (AP) - Wall Street prefers Republicans, McCain supporters argue. But stocks have done better under Democratic presidents, Obama supporters fire back.
When it comes to the stock market _ especially this turbulent market _ does it really matter who is elected president?
Yes and no. Politicians do influence the economy _ and they'll play a big role in how the country emerges from this current crisis. But analysts say neither presidential candidate can be a cure for what's ailing Wall Street.
"The economy is a big, big machine, and the president is one government bureaucrat," said Ron Florance, Wells Fargo Private Bank Director of Asset Allocation.
Moreover, most analysts believe the battered stock market has nowhere to go but up next year, no matter who ends up in the White House _ and history will probably give the victor credit even if he actually had little to do with the rally.
"The timing couldn't be better," Florance said.
Economy
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