Financial Advisor: Senate runoff could impact the stock market

Posted on December 8, 2020
Savant Wealth Management Financial Advisor Kevin Kingston. (Photo courtesy: Savant Wealth Management)

By Blake Haas

BLOOMINGTON – Control of both the House and Senate could be vital to a Biden administration to pass COVID-relief; however, that depends on an election runoff in Georgia.

Squaring off in a runoff election in January is Bloomington native Georgia Senator Kelly Loeffler and her challenger Democrat Raphael Warnock to determine which party controls the U.S. Senate for the next two years.

Kevin Kingston, a financial advisor with Savant Wealth Management, told WJBC’s Todd Wineburner that the runoff results could significantly impact the economy.

“The other key factor is what happens with, and this isn’t Biden appointments with this Senate runoff. If you happen to have a Democratic sweep of all three branches, things could look a lot different in many ways. So I think all eyes are going to be on that Senate runoff in January.”

Democrats control the House of Representatives, and Republicans control the Senate; however, that could change if Warnock is elected.

So far, total ad expenditures for the Senate runoff is above $120 million.

Blake Haas can be reached at Blake.Haas@Cumulus.com.

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