The Wall Street Journal noted in a post-election article, that freshly re-elected President Barack Obama confronts an economy that offers glimmers of long-missing vitality but remains held back by fiscal and regulatory uncertainties and slowing global growth.

Reaction to Obama’s re-election victory in global financial markets has been relatively muted, the Journal said, but fears about the fiscal cliff remain. A combined $500 billion in spending cuts and tax increases are scheduled to begin in January unless Congress and the President can cut a deal to delay or replace them before then, the Journal notes.

The Journal quoted a chief economist with Cleveland, OH-based manufacturer Eaton as saying, “Many businesses are holding back on capital spending, holding back on hiring plans, holding back on 2013 business plan formulation, all pending what happens with the fiscal cliff.”

To read the Wall Street Journal article click here.