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Market Extra: Why stock investors say ‘gridlock is good’ after midterms deliver split Congress

Stock-market bulls are cheering midterm election results that, as expected, saw Democrats take control of the House and Republicans hold control of the Senate, delivering a split Congress and expectations for legislative gridlock over the remaining two years of President Donald Trump’s term.

Read:Democrats take control of House after health care, immigration drive voters to polls

“Gridlock is good” is an oft-heard mantra when it comes to stocks. It comes from the notion that the likely inability of lawmakers and the president to accomplish much means politicians won’t be able to do much harm nor to undo market-lifting measures already in place.

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