The stock market cares more about which party controls Congress than it does about which party wins the presidency, historical data suggests.
On average, stocks have done better when Congress was split between Republicans and Democrats, rather than controlled by one party. That's according to LPL Financial Senior Market Strategist Ryan Detrick. In a note published on Monday, Detrick looked at historical data dating back to 1950 and found that the stock market performed best when Congress was split between Republicans and Democrats.
It's probably no surprise that investors favor push and pull in Washington D.C. rather than one party writing and approving the laws, as the tension limits market uncertainty in terms of legislative risk.
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