WSJ Wealth Adviser Election Briefing: Emerging-Market Currencies, VC Issues, Green Energy Shift

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Gridlock is supposed to be good for Wall Street. But strategists and investment managers are bucking conventional wisdom, saying a divided executive and legislative branch won’t be the boon for stocks it typically is.

Gridlock has been a positive for investors in the past. Ed Yardeni of Yardeni Research found the S&P 500 rallied roughly 49% on average during periods of one-party domination. But a divided government produced returns of 60% on average or his studied period.

That…