The stock market soared after it was announced that John kerry had called the president and conceded the election. As of 9AM the Dow is up 140, the NASDAQ is up almost 27 and the S&P up a little over 15.
Stocks surged Wednesday, with the Dow Jones industrials posting a triple-digit gain as investors expressed relief after Senator John Kerry conceded the election to President Bush.
Uncertainty about the outcome of the election hobbled the market for weeks, keeping stocks in a tight trading range. There had been concerns equities would sink in the absence of a clear winner after the polls closed, but the market rallied in anticipation of a Bush victory even as votes were still being counted in three states. It became official when sources from both parties confirmed late Wednesday morning that Kerry had conceded the election.
Ace of Spades also covering, by breaking out the cowbell.