The Dow cleared 13,000 Tuesday, its highest level since May 2008–and in the process, President Obama found himself among the top five American presidents in terms of the Dow's performance (the other four are FDR, Coolidge, Clinton and Eisenhower). Does the market surge mean the recovery is real? Or, as one trader told Erin Burnett on a visit to the NYSE, just "lame"?
With Tuesday's rally on Wall Street, President Obama picks up not just another talking point for the 2012 campaign, but a place in history as the fifth best-performing president when it comes to the stock market, behind FDR, Coolidge, Clinton, and Eisenhower.
"It's a pretty good record," said Erin Burnett. "It's psychologically important. It creates a feeling that the economy is on the right track and getting better."
Psychology, Burnett says, leads to actual jobs–and all of that means a potentially significant boost to President Obama's chances at reelection.
Of particular interest is independent voters–fully forty percent of the electorate. Of voters who make $75,000 or more, 85 percent own stocks. "That's a lot of people who are feeling a lot better than they were four years ago."
Erin will have extensive coverage of the markets–and the political impact–on Erin Burnett OutFront, 7 p.m. and 11 p.m. ET on CNN.
A new Gallup poll puts Rick Santorum ahead of Mitt Romney nationally by more than ten percentage points. In this back-and-forth campaign that's sent several candidates into the spotlight as frontrunners, the enduring Romney campaign has managed to hold on to its inevitability argument. In a Gallup daily tracking poll, all Americans were asked which candidate–Santorum or Romney–has the best chance of defeating President Obama. 54 percent said Romney, compared to 29 percent for Santorum.