How to invest in Obamanomics

Obama's first State of the Union gives investors a clue on what's in store for 2010

Jeremy Glaser 02.02.2010

Looking back on the 2009 investing landscape it's clear that government policy played a vital role in driving the market. The bank stress tests, energy legislation, health-care reform, the stimulus, and myriad other regulations alternatively gave the market heartburn and bouts of euphoria. Following the machinations in Washington became increasingly important for investors.

Even though the economy has stabilised, the actions that government takes, or doesn't take, during the coming months will still have a tremendous impact on stocks. This made President Obama's first State of the Union address on Wednesday particularly meaningful to the investment community.

His top priority for 2010 is jobs. No surprise here. One of the most striking parts of the recovery so far is that even as output has begun to rise off previous lows, job numbers continue to linger in the basement. Firms are doing more with less, and fear of a double-dip recession has kept hiring at a bare minimum. Employment in especially hard-hit industries such as construction remains decimated.

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