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The Breakfast Briefing: Wall Street Futures Up A Tad After Democrats Win U.S. House
FYI: U.S. stock futures rose in overnight trading on Tuesday as the U.S. midterm elections played out just as investors expected with the Democrats winning back the House of Representatives and splitting Congress.
Investors believe the Washington gridlock scenario will be best for the market, allowing President Donald Trump’s business friendly policies to continue, but keeping a check on some of his more disruptive market actions like the trade battle with China. History has also pointed to strong returns for equity markets when Congress is divided.
Dow Jones Industrial Average futures rose 173 points as of 3:08 a.m. CT Wednesday. S&P 500 and Nasdaq 100 futures were also higher. The Dow was up 3.7 percent for the year through Tuesday. Relief that Republicans held onto the Senate also helped futures as some investors feared a so-called blue wave clamping down on Trump’s business-friendly agenda. Regards, Ted
