With the midterm elections set for tomorrow (Tuesday) most political pundits are predicting that the Republicans will take enough seats in the Senate to regain a majority.
But what will that mean for the stock market today? Has Wall Street already factored in a GOP victory?
"I don't think it's totally baked in, but definitely it's in the oven right now," said Money Morning Chief Investment Strategist Keith Fitz-Gerald on FOX Business' "Varney & Co." program today (Monday.)
Fitz-Gerald, a seasoned market analyst with 33 years of experience, said that even if the Democrats somehow surprise the stock market by hanging on to the Senate, any effects will be short-lived.
Instead, he said several factors beyond politics are much more likely to move the U.S. stock markets over the next several months.
For Fitz-Gerald's full explanation of what to expect, watch the video below.
Should I be in the stock market right now? We've just gone through the worst market volatility in nearly 20 years. A lot of folks find that scary. But no matter how crazy it gets in the stock market today, hitting the eject button is a terrible idea.
Follow me on Twitter @DavidGZeiler.
