The market says Bush to get boost from convention
The market says Bush to get boost from convention
Bush gets a lift in the markets
But Friday's unemployment report could deflate bump
By David Weidner, CBS.MarketWatch.com
Last Update: 4:00 PM ET Aug. 31, 2004
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NEW YORK (CBS.MW) - President Bush's stock is rising in the markets -- literally.
CBS MARKETWATCH TOP NEWS
The market says Bush to get boost from convention
Bush, Kerry health care proposals offer stark contrast
Republicans turn to domestic issues and economy Tuesday
GOP reaches out to Democrats as comrades
Forward contracts tied to the outcome of the presidential election show that Bush is enjoying a convention boost, even in so-called swing states that could determine who the next president will be.
Prices for a contract that will pay $100 for a Bush victory are at $57, on the Dublin, Ireland Intrade Exchange. That's up from a range of $47 to $53 as recently as two weeks ago. Prices are generally believed to match percentages of support, not unlike a poll.
"If the market for George Bush rallies through the Republican Convention as expected and has been happening and we get a good employment number you'll see his number increase as well," said Michael Knesevitch, a spokesman and co-owner of the exchange.
Bush gets a lift in the markets
But Friday's unemployment report could deflate bump
By David Weidner, CBS.MarketWatch.com
Last Update: 4:00 PM ET Aug. 31, 2004
E-mail it | Print | Alert | Reprint | RSS
NEW YORK (CBS.MW) - President Bush's stock is rising in the markets -- literally.
CBS MARKETWATCH TOP NEWS
The market says Bush to get boost from convention
Bush, Kerry health care proposals offer stark contrast
Republicans turn to domestic issues and economy Tuesday
GOP reaches out to Democrats as comrades
Forward contracts tied to the outcome of the presidential election show that Bush is enjoying a convention boost, even in so-called swing states that could determine who the next president will be.
Prices for a contract that will pay $100 for a Bush victory are at $57, on the Dublin, Ireland Intrade Exchange. That's up from a range of $47 to $53 as recently as two weeks ago. Prices are generally believed to match percentages of support, not unlike a poll.
"If the market for George Bush rallies through the Republican Convention as expected and has been happening and we get a good employment number you'll see his number increase as well," said Michael Knesevitch, a spokesman and co-owner of the exchange.