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What Happens If Republicans Retake Capitol Hill?

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There are political ramifications to the lackluster labor report that just tripped across the headlines this morning.

Specifically, as Miller Tabak’s Peter Boockvar notes, the more disappointing the economic data is over the next few months, the higher the odds of gridlock come November.

In fact, according to, the price of a Republican takeover of the House is at the highest of the summer.

The question, notes the AP, is whether Republicans have it together enough to gain 40 in the House and 10 in the Senate to take control of Capitol Hill - with less money than the Democrats, without the White House bully pulpit and as tea party activists expose a fissure between conservatives and moderates in the GOP.

But some political analysts do think the GOP can pull a clean sweep here. Dick Morris, for instance, has predicted that the Republicans will indeed take the Senate and the House.

Historically, what have market returns looked like when a Democrat is in the White House and Republicans control Congress?

We emailed S&P’s Sam Stovall the question and the strategist provided the answer:

POSITION:  No positions in stocks mentioned.