Global Stocks Steady after Obama's Victory

by Jordan Yerman | November 5, 2008 at 08:58 am

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In the wake of Obama's acceptance speech, global stocks are more or less steady, keeping a grasp on last week's gains. Again, it's emotion: Obama's victory doesn't give him the keys to the White House right this second, so the economic realities have not really changed: it's all about the outlook.

The regional split was stark, however. European stocks fell for the first time in seven days while Asia's bourses and worldwide emerging markets clocked up gains of more than one percent to three-week highs.

Wall St futures pointed to a lower open after Tuesday's strong gains. The U.S. dollar did the reverse, recovering some of the previous session's heavy losses.