How the U.S. midterms could ripple through the stock market

[ASFN Admin]

Investors are turning their focus to Tuesday’s U.S. midterm elections, which will determine control of Congress and could spur moves in everything from energy companies to cannabis stocks. Republicans have picked up momentum in polls and betting markets and analysts see a split government - with the GOP winning the House of Representatives and possibly the Senate - as the likely outcome possibly hindering Democratic President Joe Biden's agenda. Traders also appear to be leaning toward a Republican win: a basket of stocks and other assets tracked by advisory firm Strategas that would be expected to do well after a Republican victory have outperformed a counterpart Democrat portfolio, indicating a roughly 70% chance that Republicans win both the House and Senate.

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