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The Market Detests Elections, 10/8/12
Given the uncertainty of presidential elections, the markets won't like the next few weeks. But do they really prefer Republican presidents over Democrats? Plus, drug companies continue to run into problems with patent infringement in India.
The presidential debate went Mitt Romney's way, but don't assume the markets will be happy with a Republican in the office. According to Marek Fuchs, stocks perform mostly the same whether a Democrat or Republican is in the Oval Office. Plus, drug companies are continuing to have issues in India with patent infringement, and Pfizer is the latest to run into trouble.
Also, earnings season is about to start again this week, with Alcoa kicking the season off on Tuesday. Merck, Pfizer and Johnson & Johnson won't report for another two or three weeks.
If you have any questions for Marek, he can be contacted through Twitter at @MarekFuchs.
Watch past Wall Street Wrap Up videos here.
Marek Fuchs was a stockbroker for Shearson Lehman Brothers before becoming a journalist who wrote The New York Times' "County Lines" column for six years. Marek speaks regularly on business and journalism issues at venues ranging from annual meetings of the Society of American Business Editors and Writers to PBS to National Public Radio. His last book, A Cold-Blooded Business, was called "riveting" by Kirkus Reviews and next book, Local Heroes: Portraits of American Volunteer Firefighters is due out in 2012. He is on the writing faculty at Sarah Lawrence College. When Marek is not writing, teaching or filming videos, he serves as a volunteer firefighter.
