Posted on 11/07/2018 7:53:29 AM PST by Red Badger
Stocks rose Wednesday following the 2018 midterm elections that shifted the balance of power in Washington, with Wall Street preparing for the possibility of legislative obstacles within a divided Congress.
The Dow Jones Industrial Average jumped 1%, or more than 250 points, and the Nasdaq Composite rose 1.2%. The S&P 500 was up 1.1%. Democrats took control of the House early Wednesday morning, gaining more than 26 seats, while Republicans expanded their majority in the Senate.
"In other words, certainty ruled the day," said Paul Eitelman, a strategist at Russell Investments. "Had the unlikelier scenario of a Democratic takeover of both the House and the Senate won out, we think markets likely would have moved in more significant fashion in the days ahead."
(Excerpt) Read more at markets.businessinsider.com ...
ping
It’s not because the demoncrats won....it’s that the market now knows which party controls which house of Congress.
The Market hates ‘uncertainty’.......................
Ditto
There’s nothing investors hate so much as uncertainty.
I know I’m nit-picking here, but they haven’t “taken control” of Congress yet.
The Blue wave was always predicated on the Democrats taking the House *and* Senate. Congressmen run on a two year term and can be in and out fairly quick. An incumbent Senator and their six year terms is about as lifelong as a SC Justice. Not quite of course, point is, it’s difficult to root out a long seated senator. Last night, voters fired McCaskill, Donnelly and Skeletor Nelson (who’s crying for a recount now).
So, that’s our reason to be happy today. Senate seats won, and a few of their media pets, such as Beta boy, Gillum and Abrams are going down.
Reasons I’m concerned-McSally should have never been this close in the AZ senate race and Abrams push in the Georgia governors race is unsettling. Not ready to say that either will be purple for 2020, but it could be much narrower margins.
The business and investment community likes a Congress that is not likely to get anything big or earth shaking done; a Congress in a standoff between the House and the Senate.
Trump will be able to keep the House at bay and still get his judicial nominations through the Senate. He will also not lose any reign of the federal agencies, no matter what Pelosi does. Pelosi will lead a largely stymied and ineffective House for two years. She will get the GOP base even more angry and motivated as she wastes time trying to attack Trump with investigations. She is also likely to shut down the government trying to demand budgets from the Senate that the Senate will not approve.
The bad news is that tax reform is where it is for now. The good news is that tax reform is where it is for now.
“I know I’m nit-picking here, but they haven’t “taken control” of Congress yet.”
Yes they have ... from a market perspective. The market deals in futures. In fact the market had already factored in that the dems would take the House and the pubs would take the Senate based on projections.
And with President Donald J. Trump (ILWT) in the driving seat.
(ILWT = I Love Writing That)
The markets love globalism.
McSally was that close because she wasn’t clearly on the side of the citizens and the rule of law. She left a lot of Trump votes on the table.
Amen!........................
Yeah...276 is more than 250.
“McSally should have never been this close in the AZ senate race”
Have you been to Arizona?
Tucson is now 1/2 Mexican. Up until about the mid 80s it was about 10-15% that.
Phoenix is about 1/3 Mexican, and it used to be maybe 5% just 30 years ago.
So y’all in the East haven’t seen the Invasion. But you will, because the Reconquistadors now have the Rat party firmly on their side: get rid of the Americans and set up a Narco-Socialist state on top of the “old” America.
And that’s why little Missy Affirmative Action Pilot Grrl is barely squeaking by right now, and why Sinema may still get there. If you think all the Mexican poll workers in West Phoenix and South Tucson have any qualms about mass fraud in the vote count, think again. Lotsa “Manny Hernandez” votes gettin’ cooked up right now in some non-descript trailer on West Ajo Way.
Market sees NOTHING getting done for the next two years so there is no uncertainty as tax cuts and deregd will remain in place
Never been to Arizona, but what I see going on out west is unsettling.
Will Trump hold AZ in 20?
deregd will remain in place?
Good.
I don’t like it when deregd moves.................
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