A perfect storm could give Democrats magic 60 in Senate says cnn.
A perfect storm could give Democrats magic 60 in Senate says cnn.http://edition.cnn.com/2008/POLITICS/10/08/senate.election/index.html
But lot of investment professionals don’t necessarily want to give one party the keys to the entire city. That means there could be a huge sell off if Democrats win 60 seats or more.
With the election of 60 or more members, the winning party has the power of cloture. Under cloture, filibustering of bills brought to the Senate is not effective because the ruling party can limit the amount of time for debate. The net result is that the controlling party has the ability to pass bills faster and without consideration of bipartisan recommendations.
In recent elections, the stock market was not dramatically affected by Election Day events. The Dow closed up 101 points in 2004 to close at 10,137.05 on the day after the election. And in 2000, it edged down just 45 points, closing at 10,907.06 the day after the election amid the uncertain outcome of the Bush-Gore contest.
Post-Election Market Moves
1992 — Bill Clinton wins presidency: Dow closes at 3223.04 on Nov. 4, down 29.44 from Election Day.
1996 — Bill Clinton reelected: Dow closes at 6177.71 on Nov. 6, up 96.53 from Election Day.
2000 — Election results unclear: Dow closes at 10907.06 on Nov. 8, down 45.12 from Election Day.
2004 — George W. Bush reelected: Dow closes at 10137.05 on Nov. 3, up 101.32 from Election Day.
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