Midterm Election Results Good News For Stocks, History Suggests

Frank Holmes | |

What a week it was.

First, the midterm elections failed to produce the “red wave” that most pollsters and pundits predicted. As I write this, the Democrats have maintained control of the Senate while it’s still unclear which party will have control of the House.

And second, the crypto industry may have experienced its very own Lehman Brothers moment.

FTX, until recently the world’s second...

Republican Glenn Youngkin Wins Virginia Governor Race

AP News | |

Republican Glenn Youngkin won the Virginia governor’s race early Wednesday, tapping into culture war fights over schools and race to unite former President Donald Trump’s most fervent supporters with enough suburban voters to become the first GOP candidate to win statewide office in a dozen years.

The 54-year-old Youngkin’s defeat of Democrat Terry McAuliffe marked a sharp turnabout in a state that had shifted to the left over the past decade and which President Joe Biden captured by 10 points in 2020. And as the party felt the sting from that loss, Democratic Gov. Phil Murphy of New Jersey was virtually deadlocked in his bid to win reelection in a state Biden won by 15 points.

Iowa Senator Chuck Grassley Seeks Eighth Term of Office

AP News | |

Iowa Sen. Chuck Grassley, the longest-serving Republican senator, said Friday that he will seek an eighth term in 2022 in a race where he would be the favorite to win reelection.

The 88-year-old, who has been in the Senate for 40 years, said in an announcement posted on Twitter that there is “a lot more to do, for Iowa.”

Texas House Republicans Pass New Voting Restrictions Bill After Months of Democrats' Protests

AP News | |

Texas Republicans advanced new voting restrictions Thursday night after months of protests by Democrats, who after returning from a 38-day walkout are now all but out of ways to stop a bill that includes a ban on drive-thru voting and would empower poll watchers.

The nearly 50-page bill passed the Texas House on a 79-37 mostly party-line vote, moving fast a week after Democrats ended their holdout. Republican Gov. Greg Abbott says he will sign the measure that is on track to reach his desk by early September, if not sooner.

Republican Jake Ellzey Wins US House Seat in Texas Over Trump-Backed Susan Wright

AP News | |

Republican Jake Ellzey of Texas won a U.S. House seat on Tuesday night over a rival backed by Donald Trump, dealing the former president a defeat in a test of his endorsement power since leaving office.

Ellzey’s come-from-behind victory over Republican Susan Wright, the widow of the late Rep. Ron Wright, in a special congressional election runoff near Dallas is likely to be celebrated by Trump antagonists who have warned against his continued hold on the GOP. Trump backed Wright from the start and had made one last attempt to give her a boost with a telephone rally Monday night.

More Than 160 Companies Urge Congress To Expand Voting Rights Act

Kimberly Redmond | | Inc (Nasdaq: AMZN), Apple Inc (Nasdaq: AAPL), Facebook Inc (Nasdaq: FB) and PepsiCo Inc (NYSE: PEP) are among the more than 160 companies calling on US lawmakers to pass legislation to restore and protect voting rights.

In a letter released Wednesday, the companies, part of a group called Business for Voting Rights, urged Congress to reintroduce the John Lewis Voting Rights Advancement Act, legislation that would restore a key provision of the 1965 law that was eliminated by a 2013 Supreme Court ruling.

Haiti President Jovenel Moïse Is Assassinated in Attack at Home

AP News | |

Haitian President Jovenel Moïse was assassinated after a group of unidentified people attacked his private residence, the country’s interim prime minister said in a statement Wednesday.

First Lady Martine Moïse is hospitalized following the attack late Tuesday, interim Premier Claude Joseph said.

Economists Say Inflation Is Temporary Pandemic Aftereffect, But GOP Blaming Biden

AP News | |

Gas prices have whizzed past $3 per gallon in much of the nation. The cost of used cars and new furniture, airline tickets, department store blouses, ground beef and a Chipotle burrito are on the rise, too.

Many economists say the price increases are fueled by the aftereffects of a global pandemic and probably won’t last. But Republicans are hoping to storm into next year’s midterm elections arguing that steep government spending under President Joe Biden and a Democratic-controlled Congress has triggered inflation that will ultimately hurt everyday Americans.

Isaac Herzog, Scion of Prominent Family, Elected President of Israel

AP News | |

Isaac Herzog, a veteran politician and the scion of a prominent Israeli family, was elected president Tuesday, a largely ceremonial role that is meant to serve as the nation’s moral compass and to promote unity.

Herzog is set to become Israel’s 11th president after securing 87 votes in a secret ballot among the 120 members of the Knesset, or parliament. He will succeed Reuven Rivlin, who leaves office next month at the end of a seven-year term.

Democrats Push Ahead With Bill To Expand Voting Rights Against Republican Wall of Opposition

AP News | |

Democrats renewed their efforts Wednesday to muscle through the largest overhaul of U.S. elections in a generation, setting up a fight with Republicans that could bring partisan tensions to a climax in the evenly split Senate and become a defining issue for President Joe Biden.

Democrats and Republicans both see the legislation, which touches on nearly every aspect of the electoral process, as fundamental to their parties’ political futures. The Senate bill, similar to a version passed by the House earlier this month, could shape election outcomes for years to come, striking down hurdles to voting, requiring more disclosure from political donors, restricting partisan gerrymandering of congressional districts and bolstering election security and ethics laws.

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