Wednesday , August 10 2022

US stocks are rising as Republicans keep the Senate, the Democrats win the House


Intermediate: Democrats turn the House

Former Rep. Jason Chaffetz (R-Utah), Benchmark Managing Partner Kevin Kelly and Maria Bartiromo and Dagen McDowell of FBN on the Medium-Term Impact on the House and the Senate.

US stocks rose Wednesday morning, while investors put the uncertainty behind the intermediaries.

Democrats took control of the House, and Republicans maintained control over the Senate, a situation that, according to history, is good for US stocks.

According to Dow Jones Market Data, analyzing markets and electoral data since 1970, this scenario is the best case for US stocks one year after the election, with a broad S & P 500 index rising by 19.9% on average one year later.

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Some investors worried that the Democrats would sweep the Republicans into tight races in a so-called "blue wave," but no such slippage occurred. Democrats, especially those considered potential presidential competitors in 2020, saw victory. Sen. Bernie Sanders of Vermont and Senator Elizabeth Warren of Massachusetts won the races. FOX Business has covered national and local economic and business issues with impact on voters.

On Wednesday, as investors digest the results of the race, many will turn their attention to the Federal Reserve, which begins the two-day meeting in November. Although no change in interest rates is anticipated, policy makers are expected to raise rates in December

pendulum Security Last one Change % Chg
I: DJI DOW JONES AVERAGES 25780.25 145.24 + 0.57%
I: COMP NASDAQ COMPOSITE INDEX 7459.0605 83.10 + 1.13%
SP500 S & P 500 2781.76 26.31 + 0.95%

US shares have gone up on Tuesday. Media Dow Jones Industrial This one earned 173.31 points, the S & P 500 rose by 17.14 points and Nasdaq Composite climbed 47.11.

Fox Business & # 39; Suzanne O'Haloran has contributed to this article.

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