[ by Howard Haykin ]

NBC Projects Obama the Winner in Ohio;  Romney Refuses to Concede the State.

President Barack Obama was re-elected president Tuesday night, put over the top by the crucial battleground state of Ohio.  Winning Ohio put Obama at 274 electoral college votes, 4 more than needed. 

Before the clock struck midnight on the East Coast, Obama had tweeted his supporters, saying:  "This happened because of you. Thank you.  A picture had been posted on Obama's Facebook page showing him hugging first lady Michelle Obama under the headline "Four more years."

Earlier, Pennsylvania, Wisconsin and New Hampshire went to Obama, according to NBC News, while Romney took North Carolina,.  But other critical battlegrounds were unsettled  - including Virginia, Ohio and Florida.  Another swing  state, Colorado, was picked up by Obama. 

The Positive Immediate 48-Hour Reaction.   After Obama was projected the winner in Pennsylvania and Wisconsin, U.S. stock futures turned down and stayed lower with the Ohio vote results. However, with Obama the projected reelection winner, at least one person anticipates a market rally - Todd Schoenberger, of the BlackBay Group -  who expect the market to move higher tomorrow because we now know who will lead the country for the next 4 years.  "We’ll know who we’re going to be playing cards with in the next four years,” he added.  “The immediate 48-hour reaction will be positive.”

The futures retreated, according to Schoenberger, because of some lingering questions about Ohio and Romney refusal to concede.  “If we don’t have an absolute resolution, then we’re selling off big time tomorrow" he said. "There will be an opportunity for profit-taking off of today’s gains.”

Popular Vote to Romney.    With 67% of the vote counted, Romney leads the national popular vote with 46.5 million votes, or 49%, versus 46.2 million or 49% for Obama.  The electoral votes stack up as Obama=283 and Romney=203.

Obama won in Wisconsin - Paul Ryan’s home state - and won in Romney’s home state of Massachusetts - and won in Romney’s boyhood home of Michigan.  Romney held onto Utah, the Mormon state.

Congressional Races.   The Democrats will likely hold onto their majority in the Senate, while Republicans continue to control the House of Representatives. 

Democrat Elizabeth Warren, an unpopular figure on Wall Street, defeated the moderate incumbent Republican Scott Brown and will serve as the next Senator from Massachusetts.  Next door, in Connecticut, Democrat Chris Murphy defeated professional wrestling magnate Linda McMahon. 
 

 [ CNBC.com, 11/7/12 ]