INSUBCONTINENT EXCLUSIVE:
By Felice MaranzEquity investors are eyeing six key sectors after the midterm elections resulted in the Democrats seizing control of the
House of Representatives, while Republicans maintained control of the Senate..
While SP 500 futures edged higher, here are the sectors most
Marijuana legalisation is on the ballot in four states, including recreational pot use in North Dakota and Michigan
Pot remains illegal at the federal level.
Meanwhile, most sectors have to deal with the trade war
Policy watchers are skeptical there will be a shift toward China on trade
back into pharmaceutical and biotechnology stocks now that midterm US elections resulted in the expected stalemate between two major parties
at odds on how to tackle escalating drug prices
Gridlock in Congress for at least the next two years would lessen the risk of disruptive, government-dictated pricing changes, according to
analysts.
A three-time leveraged ETF tracking biotech companies advanced 1.2 per cent before the start of regular US trading, with 1,500
the US market open, with more than 2,500 shares traded, the three-times leveraged Direxion Daily Financial Bull ETF gained 2.3 per
cent.
TECHNOLOGYInternet companies, which are already struggling amid signs of cooling after years of rapid growth, have emerged as a rare
subject of bipartisan criticism
Isaac Boltansky, senior policy analyst at Compass Point, suggested additional hearings are more likely than regulatory
changes.
INDUSTRIALSGoldman analysts and economists believe a major spending package is unlikely, even as infrastructure stays a key focus
in the legislative debate
They see only a 25 per cent chance of an infrastructure spending bill if Republicans maintain control of both houses of Congress, due to
short-term surge, analysts say
Clarity on banking rules could help close the valuation gap between the US stocks and their Canadian counterparts
At the state level, pot legalisation is on the ballot in North Dakota and Michigan, while voters in Missouri and Utah will weigh in on
medical marijuana proposals.
