Election Day was different for everyone. For Republicans, it was gratifying. For Democrats, disappointing. For LearnVesters, question-provoking. Now that the House of Representatives has a new majority and the Senate is a little more red, what does it mean for our money?
Looking Beyond The Election
The Wall Street Journal heard our pleas in the night and put together a brief summary of what we can expect for the future of our money. We already know that stocks opened high this morning (the DJIA, S&P 500, and NASDAQ are all in the green), so we had our fingers crossed for some good news. Here’s what we can tell you, courtesy of the WSJ:
The Stock Market: Unclear.
Large Caps: Positive.
Small Caps: Unclear.
Reserve Judgment For A Few Months
Well, that sure was enlightening. It’s quite clearly too much to hope for that a reasonably accurate prediction could be made before the new faces even enter Congress. And there’s another red flag as well: The Journal uses “history” as one of its clues as to the future of our money. We’re told time and again that history is never a reliable source of information when it comes to the stock market, and the multiple results of "unclear" speak to that truth. In that case, we won’t do anything drastic. We’ll stick to the plan, and see what comes our way.
Tell us in the comments: What effect do you think the new Congress will have on the American economy?