New Treasury Secretary for the United States of America that was appointed by President Bush has now been approved by the United States Congress and the day after he was confirmed the markets went up 200 points and came off a low. During the same time the Feds raised rates and the oil prices spiked but the markets still went up. Could this be some kind of an indication that the stock market really likes having an insider alongside the president of the United States in helping determine situations, which affect the financial community. Treasury Secretary Paulson is definitely a Wall Street insider and perhaps this is good for the stock market and investors portfolios. The stock market has seen some rough times in the last few weeks and this break out from the bottom lows is a very positive sign even with all the turmoil of the massing flooding in the Northeast and the potential war with Iran. A war, which could be underway very soon since Iran has no intention of stopping its nuclear weapons manufacturing. Paulson also brings to the table great insight as to what politicians should do as to not disrupt the markets and this should help with upward trend bias and that of course is very good for investors, corporations and American business please consider this in 2006. |
