This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Obama to Speak Friday on Transition Plans

For more articles like this, check out our Political Pulse section.

With two-day stock market tumble following Tuesday's U.S. presidential election, investors and traders wonder what the implications of an administration led by president-elect Barack Obama would be.

Today, two days after being elected to serve as the 44th president of the U.S., Obama appointed his chief of staff, Congressman Rahm Emmanuel (D., Ill.), to serve with him in the White House. Obama's campaign also announced he would meet with his financial advisors on Friday.

Emanuel's appointment marks his return to the White House. He served seven years under President Bill Clinton, and after a stint in the private sector has been serving in Congress for the past six years.

"Though Rahm understands how to get things done in Washington, he still looks at the world from the perspective of his neighbors and constituents on the Northwest Side of Chicago, who work long and hard, and ask only that their government stand on their side and honor their values," said Obama in announcing the appointment.

In accepting the appointment, Emanuel addressed the need for bipartisan unity in the coming days and explained how he'd help the president-elect rally support for his agenda:

"I want to say a special word about my Republican colleagues, who serve with dignity, decency and a deep sense of patriotism. We often disagree, but I respect their motives. Now is a time for unity ... I will do everything in my power to help you stitch together the frayed fabric of our politics, and help summon Americans of both parties to unite in common purpose."

Obama's financial team includes a star-studded list of economists and business professionals, including former Treasury secretaries Robert Rubin and Larry Summers, former Federal Reserve Chief Paul Volcker, Berkshire Hathaway's Warren Buffet, Google's Eric Schmidt, Time Warner's Dick Parsons, Xerox's Anne Mulcahy, TIAA-CREF's Roger Ferguson, former Securities and Exchange Commission chair William Donaldson and former SEC Commissioner Roel Campos, among others.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
GOOG $565.06 0.00%
TWX $85.36 0.00%
XRX $11.99 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs