Wall Street overwhelmingly backs Romney
Investing experts surveyed by CNNMoney think stocks will do better for the next few years if Mitt Romney defeats Barack Obama in the presidential election.
November 6th, 2012
12:58 AM ET

Wall Street overwhelmingly backs Romney

President Obama and Mitt Romney may be in a dead heat as Americans head to the polls on Election Day, but the former Massachusetts governor is an overwhelming favorite of Wall Street.

Twelve out of 18 investment strategists and money managers surveyed by CNNMoney said the stock market would perform better with Romney in the White House than during a second Obama term.

As the country struggles with tepid economic growth, stubbornly high unemployment, more than $16 trillion in national debt, a looming debt ceiling and the fiscal cliff, "Romney offers the potential for a more bipartisan, pro-growth set of fiscal policy initiatives, which ultimately would be better for the stock market," said Phil Orlando, chief equity market strategist at Federated Investors.

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Filed under: Barack Obama • Economy • Politics • U.S.
soundoff (31 Responses)
  1. Hide Behind

    YA could atleadt show how the heck you came to that conclusion when in fact very few of Wal street crowd back Romney at all.
    HE has some wealthy individuals putting their petty cash, an investment in future deal making but damn little instutional backing is in his corner that is almost all in Obamas or neutral.
    THere never was a serious challenge by Romney and this election put the nails into old republicans casket once and for all.

    November 6, 2012 at 3:49 am | Report abuse |
  2. Psych 101

    Socialists overwhelmingly back Obama.

    And yet while capitalism works and socialism doesn't, why the continued allure? Because socialism offers people what appears to be immediate gratification–the promise of free this or free that, or of security from some perceived risk or harm or deprivation. Those who make these enticing offers rarely label themselves "socialist" and, of course, never talk about the iron fist that is inevitably buried within the velvet glove. Instead, they often portray themselves as well-intentioned or fair-minded do-gooders.

    November 6, 2012 at 4:55 am | Report abuse |
    • bud88

      hell ya tell them i'm tired of paying for the lazy go mitt

      November 6, 2012 at 5:36 am | Report abuse |
    • Nancy

      Not me. I like not having any money. I love giving all my paycheck to people that are too lazy to work. It just makes me smile.

      November 6, 2012 at 5:44 am | Report abuse |
    • indigonation77

      At Bud 88 – wow how much do you make flipping burgers at McD, that you are tired of paying for the lazy?

      November 6, 2012 at 12:37 pm | Report abuse |
    • William

      If it was not for corporations getting stuff free their would be no corporations.

      November 6, 2012 at 2:47 pm | Report abuse |
    • Tom Kline

      Socialism as the ownership by the state of the means of production and distribution is barred by the 5th amendment because the state could never find the amount of the fair market value of those systems. Lending money to the auto industry when private equity is not available in order to avoid forced liquidation of on our last major industrial complexes is not socialism, it is national interest. The loans are largely repaid.

      Safety nets for the dispossed, health care, education support, nutrition for children, and environmental protection are self interest in action for ourselves and our legacy as a society.

      Instant gratification is in crunching the accelerator of the Ferari because we can afford it after meeting our more pressing needs and obligations.

      November 8, 2012 at 7:42 am | Report abuse |
  3. Albert

    Obama shown he can fulfil his vision

    November 6, 2012 at 5:05 am | Report abuse |
    • Ling Cho

      Nope. Very poor vision. He need glasses.

      November 6, 2012 at 5:37 am | Report abuse |
    • Ted

      What does he see?

      November 6, 2012 at 5:38 am | Report abuse |
  4. Seema Qadri

    Reblogged this on seemaqadri's Blog and commented:
    Again the effect of the ownership is evident and what ideology is going to be reflected now???

    November 6, 2012 at 5:47 am | Report abuse |
    • Stan

      You sound like a foreigner. Where are you from?

      November 6, 2012 at 5:50 am | Report abuse |
  5. Portland tony

    This is probably one of the most biased reports one could have...Firstly most managers would be Republican to start with. There is no mention of what investment sectors these individuals represent and if their sectors are subject to more regulations because of past misdeeds. For them to say unequivocally that Romney would boost the market is hoeey. There are too many variables that control stock prices such as economic conditions in Europe and Asia. The likelihood of war etc...Most things a President has no control over.

    November 6, 2012 at 7:49 am | Report abuse |
  6. bobcat (in a hat)©

    Yeah, Romney is the overwhelming favorite of wall street because they know "IF" he's elected, he will deregulate everything so they will be able to go back to backhanded dealings like before.

    November 6, 2012 at 10:47 am | Report abuse |
    • banasy©

      One of the biggest problems is the desire to de-regulate everything..."They will regulate themselves"...yeah, we've seen how well *that's* worked out...lol.

      November 6, 2012 at 11:18 am | Report abuse |
  7. fernace

    Romney has promised to deregulate, of course Wall St. fatcats would love that! I wish people would educate themselves before spouting nonsense about socialism, a system that works great in many countries! It does not hand out stuff "for free" & there's no "iron fist in a velvet glove"! So many people confuse socialism w/communism, but they are 2 very different systems! Obama is definitely not a "socialist" & that system would not work here! Neither will plutocracy! Democracy is the right choice for Americans!!

    November 6, 2012 at 12:05 pm | Report abuse |
    • banasy©

      People will always label those they dislike or do not understand, dearest fernace...it has always been that way, and it does not look like it will change any time soon.

      November 6, 2012 at 12:34 pm | Report abuse |
  8. Julie Labrouste

    "Wall Street overwhelmingly backs Romney": What a glaringly obvious fact. A vote for Romney is a vote for big business and big money to enslave us all.

    November 6, 2012 at 12:38 pm | Report abuse |
  9. inna

    I would much rather be enslaved by big money and big business and have a right to make profit and share the riches than share the misery of poverty and be enslaved by fear of regulations and government control.

    I grew up in socialist Russia and I would never vote for anybody whose vision is based on fantasy of fairness for all.

    November 6, 2012 at 2:43 pm | Report abuse |
    • William

      According to a guy i met from Russia the only difference between Russia and the United States is in Russia your not allowed to fail.

      November 6, 2012 at 2:50 pm | Report abuse |
    • banasy©

      You mean in the Communist Soviet Union, yes?
      This is how we know you're lying.

      November 6, 2012 at 3:15 pm | Report abuse |
    • Jimmy Crack Corn

      If you enjoy enslavement so much, maybe you should go back to Russia. Sadly, when you work for Big Business, you are just a slave to that machine. And in a lot of cases, the board, CEO and all the upper management make the $$$, while the income levels of the worker bees continue to fall. Clueless much?

      November 6, 2012 at 4:05 pm | Report abuse |
    • andy man

      Jimmy Crack Corn you are so brilliant!!! Vote for Obama and stay unemployed!!!

      November 6, 2012 at 6:05 pm | Report abuse |
  10. Canuc_2009

    If Wallstreet backs Romney (obvious) then make sure Obama wins!

    November 6, 2012 at 3:03 pm | Report abuse |
  11. Linda

    Welfare, foodstamp, WIC,... is worth it to help temporary poor people in a short hardship time. It can't be used to feed, raise kid by kid from prenancy moms til kids get to five years old. Let think this way, you once or many times in your life helped friends, relatives when they lost job, sickness,...But can you continuously help them that way if they permanently have no job, or permanently illness? People should have responsibility for their life and if they decide to have kids, they should think of a way to raise their kids rather than think of the WIC/welfare/foodstamp. I saw many times, the mom pay food by foodstamp/WIC, then pull of some cash buying tobaco and beer. I swear is telling the truth. I don't care much on who is going to be the US president Obama or Romey. I just care about the way they run the country. The fundamental of fairness is who work hard can get better life. The unfairness is taking tax from working hard people to distribute to no-working guys.

    November 6, 2012 at 3:36 pm | Report abuse |
    • Jimmy Crack Corn

      If you compare the amount of funds directed to Corporations in the form of government kickbacks, loans, handouts and other 'tax' benefits, it will by far outweigh the amount we spend helping the average person. There will always be someone who abuses the systems, we just can't afford to let Big Business (Corporations) to control our lives and elections. Wasn't it Mitten$ who said... "Corporations are People...."?!?!? Imagine that.

      November 6, 2012 at 4:02 pm | Report abuse |
  12. GoObama

    BTW Wall street is having a very good day stocks are up!

    November 6, 2012 at 3:58 pm | Report abuse |
  13. Jimmy Crack Corn

    Shows just how much the BIG $$$ Folks are salivating to have Mitten$ in the WH. What's even more hilarious is watching the average Joe on Main Street vote for Mitten$. You know the ones, that make far less than 250K per year. He cares not about you folks. He only cares about adding to his multiple Cayman bank accounts, on the backs of the working/middle class. Your tax deductions will be stripped, your future will be sold to the highest bidder, most likely a Chinese banker. Mitt is for the rich and elite, not the 47%. He said it himself.

    November 6, 2012 at 3:58 pm | Report abuse |
    • jtb md

      There is a reason that those making over $300,000.00 a year are in that position. Its because they worked hard to get there!!! They already pay over a 3rd of that in taxes (and therefore over $100,000.00) while most others pay either nothing or 17%. i am one of those making over $300,000.00. I have a great life but certainly earned it..

      November 6, 2012 at 4:53 pm | Report abuse |
  14. ronvan

    There is an easy way, NOT, to solve this one! GO ahead and let M. R. get elected! THEN you will see the true colors of the beast. Main Street, the MIC, The rich, ALL support him because they KNOW he will protect their money while the middle cleass picks up the shortages!

    November 6, 2012 at 4:05 pm | Report abuse |
  15. Non-Racist

    Am I missing something here? Where was the Dow just before Obama took office and where is it today 4 years after Obama has been in office? Can somebody tyen explain to me why Obama is so bad for Wall street?????????

    November 7, 2012 at 8:25 pm | Report abuse |