The Hill, which normally skews right (albeit self-consciously), sees some good news for Obama but (to be fair and balanced) not much good news for Democrats. In other words, things are looking better but no one dares say the political picture is changing. We report; we're worry about being wrong; we don't want to look like damfools; you decide.
... Overall, the outlook from business was cautious but positive in the Business Roundtable survey.
Sixty-six percent of the CEOs said they expect their sales to increase in the next six months, down from 79 percent in the previous quarter.
Forty-nine percent said they expected capital purchases to increase, and only 6 percent expected those purchases to drop. Investments by business in technology and capital improvements could be a significant spark for the economy.
Markets rallied again Tuesday, as the S&P closed at 1,147.7, up 5.54 points for the day. The S&P has danced within a range of 1,010 to 1,170 for much of the summer. “We’re alternating between euphoria and despair,” said Roberts.
If the market rises above 1,200, it will be difficult to downplay the role of politics. But no one on Wall Street can be certain whether that will happen.
“We’re getting toward the upper limit of that range,” said Gardner. “There’s a lot of different views on whether we’ll stay in that range or break out of it.”
All of this should be good news for President Obama. The stock market is a leading economic indicator, so a rally in September could point to a stronger economy next January or February....
Maybe.
