“Markets typically do well when you have a split Congress,” Todd Jablonski, chief investment officer at Principal Portfolio Strategies, told the Wall Street Journal. “Investors feel comfortable with that; it gives a sense of stability and a sense that change won’t happen too quickly.”
Democrats held the majority in the House of Representatives while Republicans widened their control over the Senate, resulting in a split Congress between two major political parties.
While there are lingering concerns over tighter financial conditions with the Federal Reserve still embarking on a interest rate hike regiment and trade policy between the U.S. and China, observers argued that a split Congress will make radical economic policy changes less likely, at least in the near term.
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