Republicans posted a strong victory in Congress on Election Day in the US
Republicans posted a strong victory in Congress on Election Day in the US. The GOP strengthened their hold on the House while taking control of the Senate for the first time in 8 years. The results were basically as expected given the demographic/geographic makeup of the seats up for grab and President Obama's poor ratings. Essentially, it means nothing meaningful will get done in Congress for the next two years. The potential gridlock is good news for the stock market, which isn't generally a fan of change. The one hiccup may be the debt ceiling/budget deal up for renewal yet again. Hopefully, the Republicans have learned their lesson from the last disaster and will work to quickly approve another year-long deal. The GOP is also far more critical of the Fed than Democrats, but I don't see anything changing from the Fed's standpoint. Going after the central bank would be a very unpopular move and would likely do more harm than good to conservatives.
I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...
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