What will a Republican House and Senate do for the Keystone XL pipeline and crude oil exports ?

The results of the mid-term elections have placed both houses of Congress under Republican control, and the market seems to be responding positively. The S&P 500 Energy sector gained 1.75% today. Reuters reported that this strong showing was likely due to the Republicans consolidating their position, saying “investors had been concerned some close races would be forced into run-offs, an outcome that could have delayed knowing who would control...

Analyst Commentary

Baird Energy Daily Dirt "11/05/2014"

Stronger start in store following midterm elections. U.S. markets pointed to a higher open in early morning indications after the string of Republican victories in yesterday’s midterm elections. Following the election results, the Republicans have regained control of the Senate while keeping the House, a first in eight years. Dow, S&P 500, and Nasdaq futures were all higher, at +74 points, +10 points, and +23 points, respectively. The market optimism carried over to the U.S. dollar as well, hitting new seven-year highs against the yen at ¥114.30/USD. October ADP employment figures came in line with consensus at +230,000 private sector additions. A couple other data releases are on tap for this morning, with October ISM non-manufacturing data due at 10 a.m. EST, where markets are expecting a reading of 58.4% vs. last month’s 58.6%, and weekly EIA inventory data at 10:30 a.m. EST. Notable pre-market stocks in focus include Time Warner (TWX), +4% following an earnings beat, Activision Blizzard (ATVI), +5% as a lowered 4Q sales outlook was overshadowed by an earnings beat, and TripAdvisor (TRIP), -13% on weaker-than-expected results. At last check, crude futures remained mixed, with WTI +0.4% to $77.47 and Brent -0.5% to $82.40, while natural gas was +2.0% to $4.21.  


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