LONDON - Investors are expecting Republican gains in U.S. midterm elections, a result that could ease worries about Democratic spending and regulation but set up a bruising fight over raising the U.S. debt ceiling next year.
Control of Congress was still up for grabs early on Wednesday, with many of the most competitive races uncalled, leaving it unclear whether Republicans would crack Democrats' tenuous hold on power. U.S. stock futures were broadly lower as the European trading session got under way, while the U.S. dollar nudged higher.
Republicans were favored to win control of the House of Representatives, polls and betting markets showed earlier, but Democrats flipped a key Senate seat in Pennsylvania, raising their hopes of holding the Senate. It will be hours or days before enough vote tallies are known to decide the result. With Democrat Joe Biden in the White House, Republicans taking the House would lead to a split government, an outcome that has been accompanied by positive long-term stock market performance in the past.
a good Time for safe moneys and buying the Stock market together
trend_bullish It's looking like the GOP will have narrow control of the House of Reps - the result will still be a gridlocked Government. Excellent for equities in 2023.
A good night for Democrat means a bad few years for your 401(k).
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