World markets cheer Obama win.

[Seldona]

Source: CNNMoney.com

NEW YORK (CNNMoney.com) -- Global stocks rose Wednesday and U.S. futures moved slightly higher as Democratic candidate Barack Obama was projected to have been elected President of the United States.

The Nikkei, the major index for the Tokyo Stock Exchange, rose 3.4%. The Hang Seng index in Hong Kong surged almost 6% at its open and retreated slightly to be up almost 5.7%. The Australian All Ordinaries index was up almost 3% at its close.

"The international markets are certainly celebrating an Obama victory," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "From the world perspective, Obama is perceived as a better candidate and I think they are voting with their dollars."

Another analyst echoed the sentiment. "Outside the U.S., Obama has a lot of people rooting for him and that is what is giving an early lift in their own time zones," said Stuart Hoffman, chief economist at PNC Financial Services Group.

Read more: http://money.cnn.com/2008/11/04/markets/election_reaction/index.htm?postversion=2008110422

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The Markets have already responded! Change indeed.

[hay rick]

1. Sharing the wealth.

Think the predicted Obama victory was mostly "priced in" already. Jump now is relief that there is no McCain upset. If McCain had won an upset I believe the overseas markets would have tanked. The issues: adult leadership of the economy, the ability to react to events rather than ideology, and eliminating the risk involved with "wars of choice."

[Ghost Dog]

2. Adult leadership? I think the issue was simply Rational leadership.

Now let's see if he will be allowed to lead (by the PTB at home). On the other hand, I think we are now discussing a much more collective style of leadership, in conjunction with others around the world.

Of course it helps if his heart is also in the right place.

Short-term market bounces pretty much guaranteed, today, in European & American markets, I reckon.

:thumbsup:

[Ghost Dog]

3. However: Europe shares down; focus on economy as Obama wins

Wed Nov 5, 2008 3:22am EST LONDON, Nov 5 (Reuters) - European shares fell early on Wednesday, led down by banks and snapping six straight sessions of gains, as the spotlight moved back on to the economy after Barack Obama's decisive win in the U.S. presidential election.

At 0821 GMT the pan-European FTSEurofirst 300 index was 1.3 percent lower 961.32 points. European stocks ended the previous session up 4.3 percent at 974.15 points, hitting a one-month closing high.

Battered banks were the heaviest weight on the index. BNP Paribas (BNPP.PA: Quote, Profile, Research, Stock Buzz) shed 2.6 percent after saying its third-quarter net profit more than halved due to higher provisions tied to the financial crisis.

HSBC (HSBA.L: Quote, Profile, Research, Stock Buzz) lost 2.9 percent and BBVA (BBVA.MC: Quote, Profile, Research, Stock Buzz) was 1.3 percent lower.

...

Analysts said that an Obama win had been largely priced in after six days of gains for European shares.

/... http://www.reuters.com/article/marketsNews/idCAL541967320081105?rpc=44

[54anickel]

4. And futures here have now taken a turn for the worse - wonder what hit the fan, Gaza clash perhaps?

http://money.cnn.com/data/premarket/