This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Obama Sends Message to Wall Street by Not Talking About Wall Street

NEW YORK ( TheStreet) -- That's right, Wall Street, the president of the United States ignored you.

President Barack Obama delivered lines Tuesday night in his State of the Union address about how the country has emerged from the rubble of economic crisis, his hope to allow families to more easily refinance their homes and the need for deficit reduction, among other economic issues.

And yet Obama didn't once mention Wall Street, banks or finance.

"He made climate change the biggest possible job creator for the nation, never mentioned the boys of Wall Street and took out his election score card -- women, gays, immigrants -- and had a program or a promise that government could deliver to ensure a level playing field," said Arnie Arnesen, former New Hampshire Democratic gubernatorial nominee.

Obama intertwined climate change with his pitch for a reformed energy policy in the United States. The president didn't ignore the reality that grand change must acknowledge market-based solutions. It was a critical recognition by Obama, who suffered a thumping from Republicans in the 2012 election for his first-term backing of failed government-funded "green" initiatives such as Solyndra.

Obama mentioned the stock market once during the beginning of his speech, noting that major U.S. equity markets are rebounding. Tuesday's speech coincided with the Dow's highest close since Oct. 12, 2007, according to data compiled by S&P Dow Jones Indices.

Though the president's fresh energy pitch didn't lift many Republicans to their feet, there were a range of other issues that suggested a less divided Congress than during the past couple of years.

Topics about immigration, the need for entitlement reform and the continued success of counter-terrorism efforts offered American audiences the image of united lawmakers.

"I think that it is safe to say that the mood was much less worse than you've seen in a lot of his previous ones," said Robert Tipp, chief investment strategist at Prudential Fixed Income. "There was a less acrimonious environment, and probably more times when you saw people on both sides of the aisle clapping at the same time. I'd like to think that suggests a slightly more productive tone."

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
AAPL $124.43 -1.54%
FB $82.22 -1.18%
GOOG $548.00 -0.73%
TSLA $188.77 -0.94%
YHOO $44.44 -1.15%


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs