Friday, July 23, 2010

Marketwatch analyst: Tea Party win might boost business mood

(FYI, slide audio progress button to 11:30 for Tea Party Comments.)

"Love 'em or hate 'em," a strong Republican or Tea Party showing in November might be a boon for Wall Street, according to Stephen Massocca of Wedbush Morgan. "I think it's going to make economic decision makers in private America feel more comfortable that the government isn't going to be tilting against them." Shorter term, "the beat goes on," says Massocca, as we hear from more companies meeting or beating earnings targets. And no wonder. He says the targets were set up that way.