Stocks explode on Bush win - WALB.com, Albany News, Weather, Sports

Stocks explode on Bush win

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November 4, 2004

Bainbridge-- The U. S. Stock market rose quickly yesterday with news that President Bush was reelected, and today it continued to soar Thursday. A two dollar drop in oil prices boosted the Dow up more than 150 points.

Since 9-11, the economy has been struggling to regain strength, and it has slowly, but surely. "The economy is sound, all the indicators are very positive and I look for the economy to continue doing well," says Investment Specialist Keith Lyle.

And according to Lyle, that trend would have continued regardless of whether Bush or Kerry had been elected as President. "In previous election years, it didn't matter who took over, be it Democratic or Republican, the market finished positively," Lyle said.

But Bush's reelection has given the economy an extra boost, the stock market rallied on Wednesday. "I think it responded well because of the continuity of the situation. Folks are accustomed to President Bush's leadership style and they're familiar with the direction that he's going to go in, and so I think that's what resulted in the upturn Wednesday."

And Lyle says he expects the Stock Market will continue to gain strength. Thats why now is the time to invest. "It's easier to buy when it's low, so you can buy more with the same amount of money." "Now's a good time. The economy is headed in the right direction and so now's an opportune time to invest."

The Dow and Nasdaq are up more than two percent this week.

posted at 9:55AM by dave.miller@walb.com