It is a national pastime of traders to make fun of CNBC and I won't argue on most of it. But I have always thought that there are some smart people there and perhaps it is the mandate to provide a constant stream of advertising selling content that marginalizes them.
Anyway, this morning, they put up an Intrade chart of Obama Reelection futures. It showed a steady decline this year with an Osama bump and even a little strength this month. Here is that chart - followed by a chart of the S&P 500.
Forget unemployment. If the stock market tanks before the election you can welcome President Newt or President Mitt or President The Donald. Well, maybe not that last one.