There is already one winner in the presidential elections: the internet, and this could help download returns for some of the internet and technology related exchange traded funds (ETFs).
Between the increasing views of online political videos and the use of social networks to gather campaign data and online donations, the internet’s use during this election has gone off the charts, according to a recent study.
Around 46% of Americans have used the internet, text messaging or email to get news about the campaign or share their views, reports Heather Havenstein for ComputerWorld. At this time in 2004, 31% of Americans had done so. The report found growing use of video, use of the internet to make donations and social networking sites such as Facebook or MySpace.
"The Internet and the 2008 Election" report compiled by the Pew Internet and American Life Project reports higher internet use by supporters of Sen. Barack Obama over rival Sen. John McCain.
Obama was an early supporter of Web 2.0 technologies, an effort that has been paying off. Obama even has his own Flickr page, where he posts photos from the campaign trail, while McCain has a blog (which means it’s official: everyone has a blog).
Could the internet’s growing importance in the presidential election have had anything to do with the 3-month returns of these ETFs? Sites such as Yahoo (YAHOO) and Google (GOOG) could be reaping the rewards of America’s hunger for information about the candidates.
The technology sector is up today, as they and other exporters are benefiting from the falling oil prices, reports Walker Simon for the Associated Press.
- Technology Select SPDR (XLK): up 9.31% in last three months
- Internet HOLDRs (HHH): up 3.9% in last three months
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.