This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The New Look of the U.S. Congress

The U.S presidential election ended Tuesday night with a decisive win for Democratic Sen. Barack Obama, who will take office Jan. 20., 2009. However, several Senate races remain too close to call, leaving in doubt the balance of power in the Congress. Those races include four embattled Republican incumbents: Sen. Norm Coleman (battling Al Franken) in Minnesota, Sen. Saxby Chambliss in Georgia, Sen. Gordon Smith in Oregon and Sen. Ted Stevens in Alaska.

Democrats have gained a greater majority in the House and also added five sure seats in the Senate. However, they are unlikely to hit the magic number of 60 in the Senate to give them a so-called super majority in the executive and legislative branches.

The certain seats gained by Democrats in the Senate number five. In the Congress, Speaker Nancy Pelosi (D., Calif.) will add to her majority despite 11 races still to be called. Congressional Quarterly forecasts a minimum gain of 21 seats. The likely makeup of the House would be 256 Democrats to 174 Republicans, with five seats still a toss up.

Early Tuesday night it was clear the Democrats would gain seats. Sen. Elizabeth Dole (R., N.C.) lost to challenger Kay Hagan, although the announcement was offset by Senate Minority Leader Mitch McConnell holding on to his seat in Kentucky. In addition, it would seem that Sen. Ted Stevens (R., Alaska), who was convicted of corruption last month, will return to the Senate.

The other three races may not be known until later Wednesday. However, all three of the Republican incumbents presently lead by small margins. It is possible the Democrats could win one or two of those races, but they won't reach 60. Of course, this means that Republicans would maintain enough members to filibuster bills in the Senate despite passage in a Democrat-controlled House.

A New Mandate

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $117.81 0.00%
FB $105.45 0.00%
GOOG $750.26 0.00%
TSLA $231.61 0.00%
YHOO $32.94 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs