There's not much to say about the big news event today that has not already been said. But as a rule the stock market doesn't like change. Today is no different, and actually more so. This new regime will have the chance to make some major policy changes as they have strong control of Washington, and a mandate from the American people. The problem for the market is this leaves a lot of question marks for corporations. Things are very uncertain right now, and the last thing they want to worry about is additional regulatory pressures.
Most of the commentary I'm hearing is that Obama's stimulus plan isn't big enough, or something to that effect. I believe our country needs some re-investment back into system, but like many, I'm hesitant about giving the government a blank check for spending. I hope there is little waste in this bill as there are too many things that need attention.
No matter what your political beliefs are, today is a day to be optimistic. We're on a new path and need to be re-energized. Hopefully today is that start.