Obama Presidency to Call Stock Shots

In New York, what Wall Street finance whiz kids are waiting for as Obama kicks in his presidency next week would be a surge of high hopes that a fresh start will fall into place. However, there is a deluge when it comes to looking at corporate earnings reports that will look to an ever-worsening recession that might spoil the festive mood next week. More stocks had ended up closing on the final curtain of George W. Bush’s presidential era last Friday, which had capped off around an eight year run and ended in a thirty six point nine percent drop in te S&P benchmark, five hundred points in the .spx and more than four point six trillion dollars worth of losses in the value of the stock market. With such a dismal context, many investors are very eager to see just what exactly president Barack Obama will be pulling out of his sleeve in order to jumpstart the economy and end the recession, as well as restore the American confidence to the battered financial markets.

Preparing for the New President, and Then Some

President-elect Barack Obama will be sworn into presidency around the middle of the day this Tuesday as the forty fourth president of the United States of America and more significantly, the first African-American state head of the nation. The markets had planned to close down on that Monday in order to celebrate the holiday of Martin Luther King Jr. luckily, this huge impediment of the shortened week due to holidays will be met with full earnings. The earning of the past three months of 2008 have been foretold to drop more than twenty percent from the previous year, according to the group ThomsonReuters Research, which marks a record of six straight quarters of fully declining profits. And if the investors have heard correctly, this year’s chances of making a profit rebound would very well be slim to none. The key element of the new administration is into what they could do and how they can jump out of this predicament box, according to Tim Ghriskey who is the chief investment officer of the group Solaris Asset Management situated in Bedford Hills, New York.

Stopping the Problem(s)

One big thing everyone expects them to answer is how to solve the problem with the collapsing banks. Many people do not think that there will be some really major announcements made during the inauguration, but will be expecting some sort of news regarding his plans to make things change for the better. The last earning reports showed that the season will start off rocky, so many eyes are turned to Obama to witness just how he plans to address these.