America goes to the only poll that counts, and tomorrow morning we’ll have a better picture of the next Congress. All indications point toward a hefty GOP win, and a consequent legislative check on the Democratic Administration.
As for the stock market, if we look back at the past 70 years or so, we find reason for hope no matter the results of the vote. That’s because stocks have rallied after every single mid-term election since the Second World War. It’s no flash-in-the-pan effect either. According to the data, the S&P 500 shows gains for up to a year after a mid-term vote. And with the markets going into election day after 10 months of losses, there’s plenty of room for them to climb back up.
In the words of Oppenheimer’s chief investment strategist John Stoltzfus, “Market history suggests to us that regardless of which party is considered the victor in the mid-term elections a rally of some kind is likely in the equity markets near term.”
While Stoltzfus acknowledges that there are multiple issues which will drive markets into next year, the immediate post-election period should see a rally in stocks. Chalk it up to clarity; investors never like uncertain situations, and putting the elections behind us will add a degree of predictability to the next few months.
So let’s assume that we’re in for a short-term rally in stocks. The question then become, which stocks to pick? And that’s where the stock analysts at Oppenheimer can help us. They’ve followed Stoltzfus’ lead, and picked out three equities that are likely to gain as the markets pick up some upward momentum. We’ve used the TipRanks platform to find out what makes them tick. Let’s take a closer look.
DoorDash, Inc. (DASH)
The first Oppenheimer pick is DoorDash, a Silicon Valley company in the world of online food ordering and food delivery services. The company boasts a market share of approximately 56%, making it the undisputed leader in the on-demand delivery niche. The service is accessed through a mobile app, and operates in 27 countries around the world, and from the…