Stock futures fell late Tuesday and early Wednesday as voters re-elected President Barack Obama, even as some business and labor groups cheered his victory.
The Wall Street Journal: Stock Futures Move Lower As Obama Wins
Stock futures slid late Tuesday and early Wednesday as voters re-elected President Barack Obama, though some investors said they expected the passing of the election to clear the way for further gains in the market. ... "It removes an uncertainty and allows investors to allocate capital with a clearer picture of the environment in mind," said Lawrence Creatura, portfolio manager at Federated Investors. ... Mr. Creatura said that, despite the uncertainty, he made trading decisions based on the presidential race during the campaign. He trimmed his holdings of stocks exposed to Medicaid "some weeks back" as Mitt Romney appeared to be nearing Mr. Obama in the polls (Jarzemsky, 11/7).
NPR: Business, Labor Groups Laud Obama Victory
[I]t didn't take long for labor organizers and business leaders to start offering their thoughts on the re-election of President Obama. Because of White House policies, the U.S. economy is "beginning to pick up steam," AFL-CIO President Richard Trumka said in a statement. He cheered Obama's win and put congressional Republicans on notice that Democrats will focus on "ending the Bush tax cuts for the rich and opposing any cuts to Social Security, Medicare, or Medicaid benefits" (Geewax, 11/7).
The Washington Post: Five Things The Election Results Mean For Business And Entrepreneurs
Obamacare full-steam ahead: Romney won't have the chance to extend waivers to the states, nor will he be able to lead a charge to fully repeal the health care reform law. The president's victory quashes the legislation's biggest remaining threat, and though regulators must still determine exactly how to implement the changes, the law will take full effect as scheduled in the president's second term in office. Changes will include an employer mandate for businesses with 50 or more employees and a tax credit for business owners' contributions toward their employees' health costs (Harrison, 11/7).