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5 Winners for Best Post-Midterm Rally in 36 Years
Wall Street sees best rally after midterm election in over three decades, as a congressional power divide eased fears about abrupt changes in policies that could easily hurt corporates. And with the United States economy on track for a mind-blowing year that could come seriously close to a 13-year milestone, the stock market seems to be in good shape. Thus, investing in solid stocks that can make the most of the current positives seems judicious.
As widely expected, the Democrats gained control over the House of Representatives, while Republicans retained control of the Senate. The results, thus, delivered a split Congress and a legislative gridlock for the remaining two years of President Trump’s tenure.
Stock market bulls cheered the outcome. After all, things aren’t that bad in case of a divided Congress. Although the markets did get a nice pop in anticipation of tax reforms, the recent trade-related issues have been a dampener. Consequently, Democrats controlling the House of Representatives will no doubt compel Trump to tone down his hawkish trade policy stance.
The Dow Jones finished nearly 550 points higher, or 2.13% on Nov 7 and registered its best one-day climb since Oct 16. The broader S&P 500 climbed 58.43 points or 2.1%, its third best day of 2018. The Goldman Sachs Group, Inc. (GS - Free Report) further noted that Wednesday marked the biggest post-midterm gain for both the Dow and the S&P 500 since the day after the 1982 contest, when both the bourses rose 4.3% and 3.9%, respectively.
As widely expected, the Democrats gained control over the House of Representatives, while Republicans retained control of the Senate. The results, thus, delivered a split Congress and a legislative gridlock for the remaining two years of President Trump’s tenure.
Stock market bulls cheered the outcome. After all, things aren’t that bad in case of a divided Congress. Although the markets did get a nice pop in anticipation of tax reforms, the recent trade-related issues have been a dampener. Consequently, Democrats controlling the House of Representatives will no doubt compel Trump to tone down his hawkish trade policy stance.
The Dow Jones finished nearly 550 points higher, or 2.13% on Nov 7 and registered its best one-day climb since Oct 16. The broader S&P 500 climbed 58.43 points or 2.1%, its third best day of 2018. The Goldman Sachs Group, Inc. (GS - Free Report) further noted that Wednesday marked the biggest post-midterm gain for both the Dow and the S&P 500 since the day after the 1982 contest, when both the bourses rose 4.3% and 3.9%, respectively.
