Wall Street No Longer Likes Congressional Gridlock

Conventional wisdom holds that Wall Street likes the stability produced by partisan gridlock in Congress. That's not true anymore.

Wall Street now wants Republicans, with a presumably pro-corporate and antiregulation agenda, to emerge from the midterm elections with majorities in both the Senate and House of Representatives.

"We would view a Republican-controlled government as positive ... as we believe it will partially mitigate and deflect the calls for increased bureaucratic intrusion into the capitalist system," said Kent Engelke, capital markets strategist at Anderson & Strudwick in Richmond, Va. ...