Relief Rally Post-Midterms, Plus Earnings: HUM, KORS & More
Zacks Investment Research | Nov 06, 2018 10:29PM ET
Wednesday, November 7, 2018 Market indexes are back in the green this morning, following a tight battle between Republicans and Democrats for control of Capitol Hill. In the end (and although we still don’t have results from a few areas around the country), the rival parties split, with Democrats taking control of the House of Representatives for the first time in 8 years, while Republicans managed to increase their majority slightly in the upper-chamber Senate. As we had pointed out here yesterday, midterm elections always — going back to World War II — result in a market upswing. Regardless the makeup of majority party, simply ending the uncertainty that overwhelms market participants helps the indexes gain traction. And not just in the very near term, either — statistics show the third year of a four-year presidential term is usually the strongest for the stock market. That said, this is anything but a usual federal government going into 2019: not only President Trump and his decidedly non-politician approach to his office, but the new Congress, especially in the House, brings with it more women and minorities than at any time in the country’s history. On the one hand, this better represents the melting pot of U.S. citizenry; on the other, no one is quite sure the direction the Legislative branch of our government is likely to take. Thus, noting trends regarding how election cycles affect investment are very important, but so is the willingness to toss out old trends in favor of new directions where they apply. For more on this, check out Zacks Executive Vice President Kevin Matras’ take in this morning’s Profit from the Pros column: Questions or comments about this article and/or its author? Click here>>
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