World awaits Obama's response to economic crisis

Date: Wed, 05 Nov 2008 12:01:19 -0500
World awaits Obama's response to economic crisis

Victory may be sweet, but a potentially deep U.S. recession and a
global financial crisis will give Democrat Barack Obama little time to
bask in the after glow of his historic win in the U.S. presidential
election, economists said Wednesday.

DEMOCRATS PAD CONGRESSIONAL MAJORITIES ON ELECTION DAY

Democrats scored victories in five important Senate races Tuesday,
adding to their majority in the chamber on the same night that Sen.
Barack Obama became the first African-American to win the U.S.
presidency.

FUTURES MOVERS: OIL FALLS FOLLOWING ELECTION OUTCOME, MIXED U.S. SUPPLY DATA

Crude-oil futures fell early Wednesday, giving up some ground after
soaring more than 10% in the previous session, as traders awaited the
latest data on U.S. petroleum supplies due later today.

CURRENCIES: DOLLAR MIXED, YEN MOSTLY HIGHER AS EUROPEAN BANKS DISAPPOINT

Disappointing earnings outlooks from European banks Wednesday
overshadowed the impact of Democrat Barack Obama's historic U.S.
presidential victory, trimming
risk appetite and lifting the Japanese yen and the U.S. dollar to modest gains.

OBAMA COMPLETES HISTORIC JOURNEY TO PRESIDENCY

Promising change in a climate of unprecedented voter discontent, Sen.
Barack Obama rode massive voter turnout to a sweeping victory in
Tuesday's presidential contest over Sen. John McCain, becoming the
first African-American elected as the nation's chief executive.