Kudlow: Market to Rally No Matter Who Wins?
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By the end of Thursday's session, the S&P 500 recorded its best day in seven weeks.
And from what Larry Kudlow is hearing, the rally has room to run no matter who wins the White House.
"Regardless of how things come out on Tuesday," Jack Bouroudjian, CEO of Bull and Bear Partners said he expects to see the market move higher.
"No matter who wins the election, it's a buy, buy scenario," he said.
Bouroudjian thinks a slew of recent economic data, such as stronger than expected PMI from China shows that the global economy is in decent shape.
And in the wake of Hurricane Sandy, Wells Fargo Securities Chief Economist John Silvia added that rebuilding efforts will likely goose the economy - which in turn should goose the stock market.
"The way New Jersey Governor Christie and other governors pitched in suggested to the Street there will be serious commitment to spending on recovery and infrastructure."
According to Bouroudjian it's not a question of whether the stock market will rally it's a matter of how much.
He says, if President Obama wins re-election, he expects a reversion to the mean in the stock market with stocks trading up to a 15 multiple.
And if Mitt Romney wins, Bouroudjian sees a sharp rally with the S&P trading up to a 20 multiple.
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"The Kudlow Report" airs weeknights at 7 p.m. ET.
