Nov. 6 (UPI) -- U.S. and global indices are bracing for Tuesday's U.S. election vote, as election day typically has significant influence over the financial markets.
Trading in U.S. stock futures began mixed early Tuesday. Dow futures dipped by 2 points while S&P 500 and Nasdaq futures traded slightly lower.
Republicans are fighting to keep control of the House and Senate in Tuesday's key midterms, which are viewed by many as a referendum on President Donald Trump's administration. Most experts say Democrats have a better shot at taking over the House.
Economist Joseph Song said a split Congress is often welcomed by investors.
"Markets typically like gridlock in D.C.," Song told CNBC, adding that a split may "modestly reduce the risk of trade tension, and be supportive of risk assets."
Some experts say a divided Congress may have the best track record for business -- while a "hostile" Congress, where both houses are of a different party than the president, is often bad for businesses.
The last U.S. election in 2016 had a tremendous effect on world markets. The Dow fell more than 800 points in after hours trading before Donald Trump was elected. The index quickly recovered the following day.
Kevin Mahn, president of Hennion & Walsh Assets Management, said he expects Tuesday's election will have a positive impact on markets.
"Based upon my review of historical data related to stock market performance and midterm elections, I am optimistic that they will help provide some additional steam to this bull market, which has hit a volatile stretch during the month of October," he said.