Before the bell: Stocks climb as Democrats gain in U.S. midterm elections [Toronto Globe and Mail (Ontario, Canada)]
Rogers Communication, Inc. (RCI)
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Source: Toronto Globe and Mail
U.S. and Canadian stock markets are taking a positive view of the U.S. midterm election results, which played out as expected, with the Republicans losing the House of Representatives to the Democrats but keeping control of the Senate. A Democrat-controlled House will hamper Trump’s pro-business agenda and could lead to uncertainty about his administration, but few worry about a reversal in already-enforced corporate tax cuts and deregulation measures that have played a large hand in the U.S. market’s rally since the 2016 election. The results for the Republicans were no worse than feared and pointed to a political gridlock that was largely expected by investors, leaving them free to buy back into a market that had its worst month in seven years in October. Story continues below advertisement “Given what futures are pointing to right now, I think it’s probably a sign that on balance Republicans have marginally outperformed,” said Geoffrey Yu,
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