Tuesday, November 04, 2014

Republicans Take Senate!

$SPY – The GOP takes the Senate, and gridlock will continue. The stock market tends to like it when each side cancels each other out.  The difference will be that instead of Harry Reid stopping legislation, President Obama will have to use his veto pen.

The only way legislation gets enacted is if there is compromise.  There are a lot of pro-growth ideas coming from the Republicans, from the Keystone Pipeline to corporate tax reform.  But it will be hard to push those through the mighty veto pen of the President.

Still bullish on stocks, though.

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