S&P 500 futures trim gains on reports Democrats to take the majority in the House
|- Fox news is reporting that the Democrats are set to take the majority in the House.
- Republicans are seen retaining the Senate.
- Split Congress would be bad news for the US stocks.
The S&P 500 futures are trimming gains on reports stating that the Democrats are set to take the majority in the House.
At press time, the futures are reporting a 0.10 percent gain, down from a 0.25 percent gain seen a few minutes before press time.
The likelihood of the Democrats winning the House has jumped back to 70 percent, according to a polling website FiveThirtyEight. Indeed, the markets had been expecting that Trump's Republican Party would lose control of the House while retaining the Senate.
That outcome, however, could lead to a political gridlock in Washington. Hence, it is not surprising to see that stocks are trimming gains.
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