So, people don't care about the economy when the Dow is above 10,500?  Who knew?

Sorry, birth certificates won't be an issue for the next few weeks.

that's exactly what I'm thinking

fwiw--there is a material astro based change in trend set for approx Nov 4--my hunch is that the mkt will continue higher into the election and then roll over dn after the elction---mccain might just pull this off---oct 10 might have been the low in the mkt for now and dems may have peaked too soon

Too late for that.  Maybe if it all happened over the summer.  But foreclosures and lay-offs are still happening, and credit is still tight.

It might get a little closer, but barring some major f-up by Obama he should win this.

Simple answer to a simple question - no.  There are still serious problems with our economy that a rising Dow will not mask, like reduced consumer spending, unemployment and extreme rates of forclosure, that aren't going away anytime soon.  

Essentially, Obama's not winning becauser the economy's bad, he's winnign because he didn't become crazy and erratic when faced with a major crisis - something that McCain was and is uncapable of.

Good grief. Yeah, you know Obama has benefited a bit from the economic times... because he managed to handle it smoothly and not all wig out like McCain, and the rest of the country. Think people are going to forget that and go running to Mr. Grumpy now? Remember, his polls where going up prior to the meltdown, they really jumped right after the first debate, and the fundamentals of the economy are still shaky. Yay, stock market is up, now how about those mortgages and the lay-offs and the credit crunch and...

I swear, bunch hand wringing bed wetters.... It is like people are LOOKING for a reason why he won't win instead of actually doing to work to make sure he does.

It was only a matter of time before a big rally happened. Stocks are a bargain right now. Even I bought some today and made some money.

The economy isn't suddenly going to turn around this week. If anything, Obama's announcement of his plan today and the expectation he will win probably helped the rally.

Don't be silly.  The economy is still terrible and will be for some time.  

If there's anything that the economists keep drumming into our heads, it's that the stock market is only a weak external reflection of the actual credit market crisis; what happens with the stock market has almost zero impact on whether businesses fail due to a lack of funds or not.

You done with your

"Hillary would have won by EVEN MORE" diary for Nov 5th?

I expect it nice and early, 9 AM EST.

BTW, the ritual suicide/flailing and whipping/scream and invictive tossing should be over at NoQuartereds and Texas Darlink's HouseofRacistMorans.com and you can come on over and join the Obama celebration here?

I do a weekly economic sentiment poll in Texas and  the Wall Street crisis didn't have that much impact until last week when the markets dived AFTER the bailout got signed.

$4 gas was what got people worried, and it's under $3 now locally. If the media changes their doom & gloom and starts gushing about the Dow up 11%, expect the economy to dip a bit as the top campaign issue.

The economy being in the tank is helping Obama, but I also think that the democrats being in charge of the bailout helped Obama also.  If you remember McBush has been knocking the bailout real hard in the last day or so.  Obama has been real positive about the bailout, and it looks like it could be helping the economy.  McBush loses again.  Since the democrats have shown leadership on coming out with a new incentive for middle class this has also helped the stock market by giving voters a positive sign that with Obama and the democrats in charge things will only get better.  Nobody wants McBush and the repugs in charge.

Had Sricki or one of the other Clintonistas written this diary, I would have considered it a legit question.

You, on the other hand, have DONE NOTHING to prove you are not just a classic concern troll..

Obama is not my first choice but the last time I checked Obama is the Democratic party nominee! I could close my nose and vote for him.

See, the diff is, we have lots of Clinton supporters, some of whom are still PLENTY ANGRY would or could have said:

Obama is not my first choice but the last time I checked Obama is the Democratic party nominee!
I WILL close my nose and vote for him.

Then, when the start out a diary saying "our candidate" I believe them....

You should get a medal for being the last concern troll left on MYDD.

SINK his chances?  What the heck?

This race is over.  OVER.  Quit reading and believing the idiotic posts on freerepublic.com.

All the presidential forecast models that rely on economic conditions use a focal point much earlier in the year. McCain flunked. It's the same rationale that made Bush such a strong favorite in '04, beyond what we wanted to believe. I remember when Mark Mellman wrote a column on election eve focusing on the economic strength and how it benefited Bush. It's not unlike sports betting, where the worst handicappers overreact to last week's results instead of a big picture grasp of true level. In short, it's not how good are you playing, it's how good are you? The economy is lousy and a quick late market surge won't change minds about that.

I'd prefer the market to remain down through election day, but all an uptick will impact is the margin, not the victor. Right now we're seeing a bloated extreme in terms of Obama's national margin and the states potentially in play as a result. Obama won't win by his current poll average, just like McCain was never truly the favorite even when he led the polling and sites like 538 were trying to pretend McCain had 60% expectancy. An open race for the presidency is not as lopsided a situational terrain as a second term midterm like 2006. Obama will win but by mid level margin, not the 6-10 poll indications of today.

"According to press reports most Obama advisors were watching the market very nervously ... "

Which press reports?
Do any of the "most Obama advisors" have a name?

WashStateBlue slays the troll, for which I measure out my precious bodily mojo.

Obama's presidential behavior in response to the crisis has been noted by all true Democrats and not an insignificant number of prominent Republicans. McLame's scatterbrained panic reaction has resulted in disgust and chagrine by all but the most demented across the globe and across party lines.

The behavior of the market will remain volatile for some time to come. The next leader of the country will not be volatile.

Trolls of all sorts will be raising ridiculous and increasingly fantastic arguments regarding the now certain outcome of this election.

WashStateBlue will be there to smack them down.

The stock market isn't the end-all-be-all of the economy. Credit is still frozen, banks are still failing (or about to fail) and layoffs continue.

Plus, Obama didn't NEED this crash to win. The crash just deflated the McCain post-convention bounce in a hurry.
Those with questions about Obama's readiness, meanwhile, got an answer to their question through his debate performance.

The crisis answered some questions about Obama and McCain. It didn't singularly cause Obama's rise absent of anything on Obama's part.

There may be some narrowing around the margins in the final weeks, Indiana or North Carolina might slip back into McCain's column, but I doubt he'll magically become competent enough for most people.

You are assuming this is a sustained rally. I and most experts doubt that. The market does not restore jobs that have been lost or houses that are forclosed. We had layoffs where I work before the meltdown.

Obama has been leading most of the race and retook the lead from McCain before this whole financial crisis really hit the fan. I'm truly tired of people trying to write off his lead as being all about the economic crisis.

Tonight's Zogby numbers are up on Drudge.

Obama 49%
McCain 43%

That margin is up 2 points from last night.

The economy is not the stock market.  The market is only a symptom of what is going on elsewhere.  The stock market would swing a whole lot of people back to McCain if it rose a lot, but there are other things out there like unemployment numbers, people's lost savings that will not be replaced soon regardless of the upswing of stocks.  It might weaken Obama's support in a lot of states, but people will still be hurting, many of whom don't own any stocks.  But you are right in one thing, any democrat would be winning in this atmosphere, it isn't anything special about Obama that is pushing him to victory.  That is just my opinion.