ping
It’s not because the demoncrats won....it’s that the market now knows which party controls which house of Congress.
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.
Yeah...276 is more than 250.
Market sees NOTHING getting done for the next two years so there is no uncertainty as tax cuts and deregd will remain in place