Stock index futures show mildly positive reaction to Obama’s State of the Union address
By APWednesday, January 27, 2010
Stocks show mildly positive reaction to Obama
NEW YORK — The stock market is showing a mildly positive reaction to President Barack Obama’s State of the Union address.
Stock index futures are moderately higher after Obama’s address, perhaps because of what he didn’t say. The president did not mention his plan to restrict the size of the nation’s banks, or the risky trading practices that brought them big profits. That plan is one of investors’ biggest concerns right now — stocks plunged last week after Obama announced that he wanted to increase regulation of the banks.
Obama did refer to his plan to tax banks that received government bailout money during the 2008-09 financial crisis.
Dow futures are up 55 points, or 0.5 percent, at 10,250, while Standard & Poor’s 500 futures are up 8.40, or 0.8 percent, at 1,103.
Tags: 2010 State Of The Union Address, Barack Obama, Events, Executive Branch, New York, North America, State Of The Union Address, Union address, United States
