Hedging Their Votes

Mark Gongloff finds reason to believe that the market is pricing in an Obama win:

Traders are increasingly betting on industries that thrive under Democratic leaders and against those companies that might do better in a country run by Mitt Romney and Republicans, according to a new Wall Street Election Poll Index created by Jeffrey Kleintop, chief market strategist at LPL Financial, a Boston brokerage. … "The market continues to increasingly reflect a status quo election outcome," Kleintop wrote in a research note. By "status quo," he means "four more years."

The energy sector tends to do well under Republican presidents, while healthcare and construction sectors do well under Democrats. And the construction industry is looking good, according to Jack Hitt:

So, while the leaders of our financial sector are betting their personal funds on Romney, they’re betting their portfolios on Obama. I guess they don’t call it hedging for nothing.