David Fuller's view

The mid-term election result ensures that Obama is now in the weakest position since he first became president six years ago.  He has said very little in this address about Republican issues for moving the economy forward, so the last two years of his term will be challenging. 

The election result has obviously energised Republicans who will hope to control the political agenda.  Any decisions taken to strengthen the economy would be a tailwind for the stock market.  Sorting out the corporate tax mess would certainly help.  Most of the bewildering array of tax deductions and double taxations for multinational companies should be eliminated, while simultaneously lowering the corporate tax rate to the mid-20s.  I think it would be much better for the US economy if this did not have to wait until a president is elected who will prioritise GDP growth.