This may change as the day wears on — as I keep noting, the stock markets respond each day to a whole lot of data, not just what goes on in Washington — but I think Economic America was not as thrilled with Obama’s speech as Political America was. CNBC:
Stocks pushed lower at the open as the market gave back gains from Tuesday’s Fed-fueled rally.
Major indexes posted losses approaching 1 percent off the open as Wall Street took little solace from President Obama’s speech to Congress last night. The speech provided vauge assurances that the goverment would take steps to shore up the financial sector but Obama also was critical of market excesses.
The Dow is down 90 as I write this.