U.S. midterm election results could be favorable for tech stocks

Investors are turning their focus to Tuesday’s U.S. midterm elections, which will determine control of the House and Senate which could spur moves in tech stocks and beyond.

U.S. Capitol Building
The United States Capitol Building

Reuters:

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.

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.

A split government could result in political gridlock that stymies major policy changes, an outcome that investors see as favorable for equities.

It’s unclear whether megacap tech company reform has bipartisan support, according to Citi analysts. Therefore Republican victory in the House or Senate “probably means a legislative standstill, implying an incremental positive for the category,” they said.

The tech-heavy Nasdaq 100 index has fallen by roughly one-third this year.

MacDailyNews Take: Gridlock is good for the market.

As we wrote back in 2018:

With a U.S. federal government several orders of magnitude larger than any founding father’s worst nightmare, anything that locks it in place, even temporarily, is a Good Thing™.

The first polls close at 6pm EST.

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46 Comments

  1. U.S. midterm election results will be favorable for all Americans, even those who ignorantly vote for what’s quickly becoming a fractured regional party comprised of elitist leftist wackos dominated by moneyed white women – confused Karens with way too much time on their hands and way too much wine in their bellies.

      1. Speaking of utterly stupid: Trump wasn’t on the ballot.

        Smart Dems should start worrying about DeSantis, but there are no smart Dems. They vote for serial liar dementia patients and layabout stroke victims.

        1. If you don’t think there was a repudiation of Trump and his election denying B.S. last night, you were not paying attention. DeSantis would make a fine POTUS, from what I have seen. The orange ego maniac needs to take Melania into retirement and shut the f**k up for good. He is more valuable to the Democrats as political acid than to Republicans as a “party leader”.

          1. Nope.

            The Red Wave was there, but it was counteracted by Gen Z.

            CNN National House Exit Poll:

            R+ 13 65+
            R+ 11 45-64
            D +2 30-44
            D +28 18-29

            So, the voting group with the least life experience and the most recently subjected Leftist indoctrination in America’s “educational system” ended up voting exactly as they were brainwashed to do.

            Americans must stop allowing public schools to act as taxpayer-funded leftist indoctrination, promoting hatred of our own nation and heritage.

            With age and wisdom, some Gen Z-ers will wake up someday. Hopefully, when and if they do, they’ll still have something resembling America to wake up to.

            1. “The Red Wave was there, but it was counteracted by Gen Z.”
              -And right there is the issue I have with you! You say that as if Gen Z is one tenth of a voter.

              Acknowledging our historical faults, as well as being proud of historic accomplishments makes us better. You’re such as snowflake.

            2. Much like Trump and his “Election Day Fraud” screeds FirstThen, you amusingly refuse to see that Trump and the Maga Republicans were soundly repudiated last night. There was no “red wave” as you have been loudly boasting of these last few months and cherrypicking a few numbers won’t change that.

          2. Trump still living rent free in your head, eh? I don’t pay attention to his ego feedings these days, sad you and other clueless Democrats still do.

            I said it almost a year ago, Ron Desantis and Tulsi Gabbard Republican presidential Dream Team.

            Tulsi will move on after eight years as V.P., to become the FIRST female president in U.S. history. You go girl!…

      2. 635,000 people voted in PA before the Oz-Fetterman debate showed Fetterman to be brain damaged.

        What a disgrace.

    1. Time to move on from Trump…I will forever be grateful to him for ruining Hillary’s “coronation”. However, the fact that the republicans didn’t clean house in an election with historic inflation, 5$ gas, rampant crime and a president who is literally senile, falls on Trump. He (and Roe V Wade) are literally the only thing the dems had to campaign on. And it worked. Trump is a toxic narcissist. We are all tired of the circus. He will burn down the party and the country to serve his ego. Desantis 24!

        1. Yeah, only the Democrats regulate the Republicans.

          Let’s see two impeachments, Jan. 6 subpoenas, jailed Trump aides, N.Y. AG and much more.

          Meanwhile, Hillary e-mails, Hunter Biden business laptop, Biden V.P. Business deals in Ukraine, China and the instant disappearing act 0f the Clinton Foundation and Russian uranium deal. 🧐

          Naaah, nothing to see here, right?…

  2. I’ll be drinking to the winners tonight.
    Really hope they are Republicans!!

    A toast to the the Great American States I have visited the last two months

    Texas, Oklahoma, Kansas, Nebraska, Iowa, Minnesota (presently), Wisconsin, Missouri, North AND South Dakota, Wyoming, Idaho (for a few dozen miles…), Utah, Colorado and New Mexico!!

    Will be visiting the Southeast after Turkey Day.

    Good luck and stay safe Florida!!

    MAGA Bless America!!!
    😆

  3. Midterms 2024 Postmortem:

    GOP will win control of the House which is enough to stop the most extreme “climate control” and other lunacy from Biden’s puppet master(s). GOP still has path to win control of the U.S. Senate.

    Onto 2024:

    Trump’s ego won’t let him pass the torch to DeSantis.

    If DeSantis runs for the GOP nomination in 2024 and loses to Trump, he’d be damaged goods. Given the midterm results, Trump could lose in close race, but that depends on just how bad things get in the next two years. Without Zuckerberg-funded COVID drop boxes focused on Dem districts, etc. and other anomalies now outlawed / closely watched, Trump could also win.

    If DeSantis runs and wins the GOP nom over Trump, Trump’s ego will force him to run as an Independent – all bets off. Trump would likely outperform all previous Independent presidential candidate by a large margin.

    See 1992: Ross Perot took 19% of the vote, leaving Bush with just 37.5%. Bill Clinton won with just 43% of the vote. More people voted against Clinton than for him. Trump could win a three-way race in 2024 with just 34% of the vote.

    For a traditional two-way race, DeSantis needs to either sit out 2024 (leave it to Trump and see what happens) and focus on governing Florida, then run in 2028 (the nomination is his) or Trump needs to shelve his ego (not happening) or, unfortunately, develop health problems that stop him from running, leaving the path open for President DeSantis in 2024. “Legal” problems will not stop Trump from winning, nor should they, since they are trumped up (pun intended). If Democrats were smart, they’d cease all legal moves against Trump and make it as easy as possible for him to run, blocking DeSantis. Dems would have a better chance vs. Trump, although Trump could certainly still win. But, DeSantis would beat them like a drum. No contest. But, Dems won’t stop with the Trump persecution because they aren’t smart and they suffer from Trump Derangement Syndrome. Trump will run regardless of what they throw at him.

    I don’t see Trump-DeSantis, but I didn’t see McCain-Palin, either. So, there’s another possible curveball to consider.

    Kari Lake will win the Governorship of Arizona (once that elections disaster of a state finally counts their votes – hopefully only the legal ones this time; Katie Hobbs is an idiot) and Lake will play a major role in U.S. presidential politics, running for national office (including for president of the United States) as soon as 2028.

      1. First Then offers so much more than you, it would behoove you to just keep quiet. Consider yourself disregarded due to your poor attitude, to say nothing of your meaningless pap.

        It is better to keep silent and be thought a fool than to speak and remove all doubt.

        1. FirstThen offers conspiracy theories and worships the ex-Conman-in-chief (whose MAGA endorsements have fared poorly of late).

          I simply provide some balance. I wouldn’t waste my time offering wisdom here which would be tantamount to casting pearls before swine.

    1. My, my, my… Big change from your insipid countdown hooting from a couple days ago. A joke, you are. Your worship of the orange idol will prove the undoing of the Republican Party, unless they shed that bellicose orange skin.

    2. “More people voted against Clinton than for him.”
      -More people voted against Trump, twice!

      “Trump could win a three-way race in 2024 with just 34% of the vote.”
      -Could happen.

      “If Democrats were smart, they’d cease all legal moves against Trump and make it as easy as possible for him to run”
      -You just don’t get it… This isn’t about winning, it’s about being true to who we are!

  4. …now that the Liberal Democrat Election Stolen Denier from my state who’s on the Jan. 6th Unselect Committee, come January 2023, will be no more!

    Hallelujah.

  5. To all the holier-than-thou result-denying, ammosexual, Christian nationalist, seditionist Tr*mpublicans polluting what used to be the best Mac Apple rumours & info sites I quote Alsep Bahar Moridamus, “There is no greater self-entitled smugness than that of an alleged adult doing something dangerously wrong while thinking they know better than someone they consider their inferior.”

    1. Get your testosterone checked, you’re projecting soy off the charts. Thank God there’s one Apple site left that isn’t run by leftist control freaks. Go kvetch on any of the other untold number of red lemming safe spaces online.

    2. Ummm….pretty sure when it is all said and done the Republicans STILL came out ahead last night.

      So glad the lack of a blowout pleases y’all but you STILL FUCKING LOST!!!

  6. The current presidency hasn’t been permitted to make a notable practical improvement in poor and low-income Americans’ quality of life.

    I suspect that any American president who would seriously try implementing truly humane, progressive policies — notably, a significant reduction in military spending, a genuine anti-war effort, universal single-payer healthcare, writing-off student deb, increasing the minimum wage while reigning in Wall Street — would likely be assassinated.

    Fiscal conservative ideology/politics, big business interests and most of the corporate mainstream news-media resist sufficiently progressive ideas from actually being implemented.

    Also, Republican representatives are likely manipulating the Democratic Party hierarchy into making the latter’s fiscal politics/policies even more conservative. They favor big money interests over people.

    Meanwhile, powerful business interests can debilitate high-level elected officials through implicit or explicit threats to transfer or eliminate jobs and capital investment, thus economic stability, if corporate ‘requests’ are not accommodated. It’s a political crippling that’s worsened by a blaring news-media that’s permitted to be naturally critical of incumbent governments, especially in regards to job and capital transfers and economic weakening.

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