An investments advisor says Iowans might consider pharmaceutical, energy, and defense stocks — as they should do very well over the next four years under President Bush. David Joy, with American Express Financial Advisors, says if John Kerry had won the election, bio-tech corporations and certain types of energy companies would have been the big winners. “However, I think at a broad level the prospects are likely to be the same. It’s based on my belief that the economy is okay right now, it’s probably going to be okay next year, but I don’t think it’s going to be robust.” Joy says quick and decisive resolution of the presidential election is a big positive for the stock market and the economy. From the stock market’s perspective, he says the presidential election went about as well as could be hoped for. “Now that we have a quick and decisive result, I think it’s going to mean that the markets and corporate leaders can breathe a little bit of a sigh of relief and maybe that means we get a little bounce in the markets between now and year end.” Joy says many investors and corporate leaders were sitting on the sidelines, unsure of how the election would turn out and whether it would resolve itself quickly.
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