Comments

|

E-mail

|

Print

The market moves as the country votes. By RD Varnon

The markets continued to rally through the election day after 1 p.m. with the Dow up more than 1 percent, the S&P 500 just off that pace and the Nasdaq up half a percent.

Hartford-based United Technologies Corp. continued to rise and was up 2.72 percent to $80.02 in early afternoon trading with Southport-based Sturm Ruger not far behind posting a 2.14 percent gain to $44.95.

It’s a difficult read on what this means if anything for the election. Gun sales for the past four years have been high with sellers profiting off of fear Obama would push to enact tougher gun laws, which never happened. Difficult to say who this favors at this point.

GE was up 0.98 percent to $21.62

Xerox and Pitney Bowes, both business services and office equipment makers, were up more than 1 percent.

The state’s two biggest regional banks, Webster and People’s joined those that were up more than one percent. People’s started the morning down a little but had rallied to a 1.14 percent gain at $12.85.

Praxair was up 0.69 percent to $110.23 while Terex was up 1.94 percent to $24.20, which could bode well for construction and industry going forward.

Hexcel Corp. was up 0.44 percent to $25.16.

Danbury-based Ethan Allen dropped 1.31 percent to $29.42, which could be investors betting against housing or against the 1 percent.