HomeFinancial MarketsFutures Remain Steady as Midterm Results Trickle In

Futures Remain Steady as Midterm Results Trickle In

U.S. futures remained steady on Wednesday morning as the results from Tuesday’s U.S. Midterm elections continued to roll in. Investors are expecting the election to result in a political deadlock, whereby power in the US Houses of Congress is divided among Republicans and Democrats, thereby making it more challenging to pass policies.

A divide in power in Congress has typically been favorable for stock markets in the past, particularly as standoffs assist to prevent more extreme policy shifts as the federal debt limit which could have significant financial implications.

Danni Hewson, a financial analyst at AJ Bell, warned that the markets currently find themselves in a “wait-and-see” mode, particularly since the results of the Midterms do not appear to be as clearcut as what many may have predicted.

“The fact that we didn’t see a Republican landslide as a lot of people had expected does now raise questions about whether or not the Democrats will maintain control of the Senate,” Hewson commented, adding, “You’re in a slightly different situation and it does look like the Biden Presidency has not been dealt a massive blow by these midterm elections.”

At 3:07 am ET, Dow e-minis were up 0.02% while S&P 500 e-minis were up 0.13% and Nasdaq 100 e-minis were up 0.41%. Since World War II, the S&P 500 has experienced gains in each 12-month period following the Midterm vote.

Delta Struggling With Flight Cancellations Following Tech Outage

Delta Air Lines has continued to struggle with flight cancellations following last week's global cyber outage. This came after a software update by global...

Dolce & Gabbana Seeking New Capital Investment

Dolce & Gabbana CEO Alfonso Dolce confirmed that the fashion house is open to seeking new investors as a means of raising capital. This...

Former Nintendo President Claims Video Game Industry Set to Grow

Former Nintendo of America president and COO Reggie Fils-Aimé insisted that the video games industry is set to grow after suffering years of decline....