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John Silvia, Wells Fargo senior economist, on the market gains seen today ahead of the election results.
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Dow Industrials up a 133 points today that might be interpreted by some as they -- around -- Romney wins he's benefit business stocks go up that's the theory.
Also up big today gold.
Up 33 dollars and outs that might be because President Obama will keep printing money and running up debt TV gets elected -- John Silvia knows he's the senior economist at Wells Fargo and also a Romney sort of us -- some of these speaks for -- on economic all know someone who had a column for time to time -- present.
An economic point area suck -- let's deal with stocks up -- -- than 33.
In the middle of Election Day is that a Romney rally.
I think it as an opportunity that look at the fundamentals because Ronnie is talking about energy.
And more energy production -- -- the price of energy low inflation.
Makes for a stronger dollar reduces the trade deficit that's important for less regulation actually can -- -- saying that the market went off stocks went off because investors think.
They got an idea that Romney wins.
Yes and we -- -- where they got back from I don't know that that that's today intuition it's of -- win that puts Iran Iraq.
Enough for investors believing that star yes current with the market up so why -- gold go.
33 bucks an enforcement back.
I -- -- -- obviously this time is just looking at stronger economy.
Slightly higher inflation over time less deflation.
I -- at some point state what happens tomorrow it's good if for Romney wins you think gold is down.
I think -- goes down because I think people think that lease over the next year that would be change in Federal Reserve policy from what we have Romney's not gonna let that continue.
Debasing the dollar.
And that the stock -- have another kick tomorrow people realize -- going to be pro business administration that's what I wanted to get that yes if it is -- Romney victory tonight to convincing three point victory if that's the case you think the Dow goes up some more tomorrow I think it does this time.
Big time.
There was going to be huge psychological impact starting tonight -- gotten around me -- and certainly going into tomorrow because you don't have to wait for him to be sworn it.
You know that governor Romney's -- institute all of these pro -- economic policies as Steve points out.
Change monetary policy swap outnumbered MacKey for real -- chief.
And all of that is gonna -- psychologically tomorrow and you'll start to see the economy started to turn around -- side.
And still you know also that you're gonna have the Asian and European market response -- -- and the US honestly.
I consensus as it is a Romney rally for stocks.
Mr.
Sylvia thank you much in the idea that was true excitement has more than 20000 supporters -- of venue for Mitt Romney in.
Pennsylvania that was some tonight Sandra Smith is tracking swing states -- center is -- -- -- that he.
