Rod, that's not accurate. Changes in the markets reflect a foreshadowing or expectation of future events in business (which is one of the reasons they're so damn fickle, because who really knows the future), they are not a reflection of past events (i.e. the last 8 years under Obama). I'm not saying I believe they're accurately predicting the future nor do we know what they'd do under HC. It's my guess that Wall Street sees a relaxation of govt regulation and, therefore, a better environment for business growth.
As an example: I have 2 friends who own 2 small businesses. They have somewhere around 20-30 employees I believe. Their businesses are booming and they'd like to expand. They have poured most of their personal resources into these businesses in the last 5 years to foster their growth (and, as a result, a few of their employees actually make more than they do) in the anticipation of the windfall of future growth. They are, however, hesitant to grow too quickly. Once they get past 50 employees they are mandated to either offer health insurance or pay a heavy tax penalty. In addition, once they get that big, they'll be in a higher state and federal income tax bracket. In effect, if they get to 50-60 employees, they'll be punished for that growth and make far less (all the while taking on more risk and debt). So.....they're reigning in their growth for now. They think it's better to wait until they see so much future potential that they can make a bigger jump and double the size of their business.
Trouble is, that day may not come if they don't grow incrementally now. So, regulation in this instance is squelching economic growth right down my street. The markets believe, under this administration, there will be less of this. We'll see.