The accelerating decline in Obama's approval rating, as calculated by polling done by Rasmussen and summarized in my chart here, is big news. The recent decline was likely driven by negative reaction to his prime-time news conference on ObamaCare. Negative feelings towards Obama are rising rapidly: the number who strongly disapprove of his performance has risen from 15% to now 40% in just six months.
This is big news for markets, since it means that passing his legislative agenda will be increasingly difficult. As a supply-sider and libertarian, I think big government, higher taxes, and rising regulatory burdens are bad for the economy and the market. And with Obama's true agenda now completely out of the closet (he's the biggest of the big spenders and tax hikers this country has seen since FDR), bad news for his agenda is very welcome news for the market.