Publish date:

Republican Win in the Senate Could Be a Catalyst for Stock Rally

ConvergEx Group's chief market strategist, Nicholas Colas, reveals that financial services professionals surveyed expect 9 out of 10 S&P sectors to rally if the Republicans take back the Senate.

With the U.S. midterm elections approaching, ConvergEx Group is releasing the results of a recent study that found we have the worst relationship between the financial services industry and the U.S. government in living memory. ConvergEx Group's chief market strategist, Nicholas Colas, reveals that financial services professionals surveyed expect 9 out of 10 S&P sectors to rally if the Republicans take back the Senate, led by energy and the financial services industries. If Democrats retain control, respondents believe health care is the only industry that will benefit. Colas also explains that now that the Federal Reserve has ended quantitative easing, responsibility is shifting back to the government to help the economy, putting more pressure on the parties.

TheStreet Recommends