December E-mini S&Ps (ESZ14 +0.50%) this morning are up +0.39% after the results of the mid-term elections showed Republicans won control of the U.S Senate in for the first time in 8 years, which is seen as business friendly.

December E-mini S&Ps (ESZ14 -0.09%) this morning are down -0.16% at a 3-week low and European stocks are down -0.07% on concern a slowdown of China's economy will undercut global economic prospects after China Aug industrial output rose at the slowest pace in 5-1/2 years.

September E-mini S&Ps (ESU14 +0.15%) this morning are up +0.09% at a 2-1/2 week high and European stocks are up +0.44% at a 2-week high on reduced tensions in Ukraine along with stronger-than-expected stock earnings results.

The US is a piker on penalties for banking wrongs.. UBS had to post bail at euros 1.1 bn ($1.5 bn) before the Swiss bank's trial for aiding money laundering and tax fraud in France.

Our Most Dangerous stocks (+0.8%) rose by less than the S&P 500 (+2.1%) and outperformed as a short portfolio. By far the biggest decliner in the portfolio was PowerSecure International (POWR), which declined 62% in May after a poor Q1 results.

I like to post whenever there is a market development that will get a lot of media buzz and contribute to investors being Scared Witless (TM OldProf). Please check out last year's post on this theme and remember how it played out.