The S&P 500 (.SPX) rose 0.56% on Tuesday during voting that will determine control of the U.S. Congress, with investors betting on a political stalemate that could prevent major policy changes.
Republicans are favored to win control of the House of Representatives and possibly the Senate, polls and betting markets show, though it may be hours before all vote tallies are known.
BROOKS RITCHEY, CO-CIO, K2 ADVISORS"If we get a split Congress, we might have to adjust our portfolios to be less defensive than we are today."
JACK ABLIN, CHIEF INVESTMENT OFFICER, CRESSET CAPITAL, CHICAGO"I think the markets are rallying at the prospect of gridlock."
Compiled by the Global Finance & Markets Breaking News teamOur Standards: The Thomson Reuters Trust Principles.