It’s the day Americans (and people in much of the rest of the world) have been waiting for. The US midterm elections wrap up today. At this late stage there’s little point in speculating on the outcome. It’s possible that we might have a cliffhanger that drags on for days or months before it’s clear who has control of the House of Representatives and the Senate. That said, if the result is the widely anticipated “red wave” victory for the Republicans, Americans should know the outcome before going to bed on Tuesday. There is no telling when we’ll get the final results, but hopefully investors will get a fairly accurate picture on who their leaders will be by the end of Tuesday as they try to make sense of their portfolios.
The early polls showed Republicans leading by a strong margin in both chambers of Congress. That narrowed during the summer, as President Joe Biden’s approval ratings recovered. But the poll of polls produced by RealClearPolitics suggests that Biden’s recovery
