Eagle Eye Opener: Election Day; Global Markets Gain »
The Finish Line: Obama or Romney (YahooFinance.com)
Today’s a big day for investors as U.S. voters decide if we’ll have four more years of President Obama’s programs or if we’ll shift gears as a nation and let Mitt Romney direct our country and influence its markets until 2016. By one writer’s count, there have been more than one million television ads featuring the two candidates, innumerable public appearances across the country and three debates. After all that, if you still haven’t made up your mind, well, it’s time to do so. Vote today.
Global Markets Maintain Status Quo Ahead of U.S. Vote (RichmondTimesDispatch.com)
For the most part today, overseas traders avoided any big moves as they seemed to be awaiting the outcome of today’s U.S. presidential election. European markets edged a bit higher, with Britain’s FTSE 100 moving up 0.2% to 5,850.6, Germany’s DAX rising slightly and France’s CAC-40 adding just 0.1% to 3,452.93. Asian markets slid the tiniest bit the other way, with Japan’s Nikkei 225 index dropping 0.4% to close at 8,975.15, Hong Kong’s Hang Seng losing 0.3% to 21,944.43, while indexes in Thailand, Singapore and mainland China all dipped. Tomorrow could bring a flurry of activity if the outcome of the U.S. presidential election is known by then.
Do the Rich Get Poorer? Depends on if You Believe BMW’s CEO (Reuters)
Investors in companies that make luxury items often have been shielded from the effects of severe economic downturns, as the super rich still have the means to conspicuously consume. And with production facilities running flat-out to meet demand in China and the United States, you would think that would be the case with BMW. But it’s not, if you believe the company’s CEO Norbert Reithofer. He announced that the prospects for continued profitability are dampening, as the Germany-based carmaker faces stiffer competition in Europe. However, Reithofer’s announcement should be taken with a grain of salt, as it was made on the heels of BMW’s stronger-than-expected Q3 report, which saw the luxury make’s profitability run 14% ahead of estimates. So, does BMW rise or fall in Q4, we’ll have to wait to decide.