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Investors are betting that Republicans retake the Senate in November.

NEW YORK (CNNMoney)

"Markets expect Republicans to retake Senate control," asserted Fred Dickson, chief investment strategist at D.A. Davidson & Company. He said that if that doesn't happen, stocks could experience a short-term correction in the days following the election.

The notion that the stock market is already pricing in a Republican victory probably has less to do with investors' savvy political insight and more to do with the latest polling data, which suggests that the Senate math is becoming increasingly dire for Democrats.

Which companies could come out on top? A few sectors stand to benefit directly from the GOP controlling Congress, according to Greg Valliere, Chief Political Strategist for The Potomac Research Group, a firm that provides political analysis for investors.

Related: Top 10 companies lobbying Washington

He claims that the biggest election pure play is medical device makers, which are currently subject to a 2.3% tax to help fund Obamacare. Republicans have vowed to repeal the tax, a move that even some Democrats are on board with.

Defense stocks could also get a boost from a Republican Senate triumph, Valliere believes, because Republicans are generally more willing to allocate greater funds to the military and roll back any forced spending cuts hurting the defense budget.

In terms of the broader market, Valliere alleges that there's a real chance of corporate tax reform with Republicans dominating Congress, something that Wall Street would undoubtedly cheer.

An Internal Revenue Service holiday that would allow U.S. companies to bring back some of the cash they have parked overseas would be a real boon to the market, Valliere said. He cautioned that an overhaul in the individual tax code is probably unlikely.

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Wall Street predicts GOP mid-term victory

Investors are betting that Republicans retake the Senate in November.

NEW YORK (CNNMoney)

"Markets expect Republicans to retake Senate control," asserted Fred Dickson, chief investment strategist at D.A. Davidson & Company. He said that if that doesn't happen, stocks could experience a short-term correction in the days following the election.

The notion that the stock market is already pricing in a Republican victory probably has less to do with investors' savvy political insight and more to do with the latest polling data, which suggests that the Senate math is becoming increasingly dire for Democrats.

Which companies could come out on top? A few sectors stand to benefit directly from the GOP controlling Congress, according to Greg Valliere, Chief Political Strategist for The Potomac Research Group, a firm that provides political analysis for investors.

Related: Top 10 companies lobbying Washington

He claims that the biggest election pure play is medical device makers, which are currently subject to a 2.3% tax to help fund Obamacare. Republicans have vowed to repeal the tax, a move that even some Democrats are on board with.

Defense stocks could also get a boost from a Republican Senate triumph, Valliere believes, because Republicans are generally more willing to allocate greater funds to the military and roll back any forced spending cuts hurting the defense budget.

In terms of the broader market, Valliere alleges that there's a real chance of corporate tax reform with Republicans dominating Congress, something that Wall Street would undoubtedly cheer.

An Internal Revenue Service holiday that would allow U.S. companies to bring back some of the cash they have parked overseas would be a real boon to the market, Valliere said. He cautioned that an overhaul in the individual tax code is probably unlikely.

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Wall St expects Republican mid-term win

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FORT LEE, N.J. (CBSNewYork) Police in Bergen County, New Jersey, arrested two men on Friday after allegedly catching them with more than 3,000 decks of heroin that they allegedly planned to sell.

Yeuri Jimenez, 29, and Lenny Montero, 31, both of the Dominican Republic, were both arrested around 8:30 a.m. Friday by Bergen County police, according to a department news release.

Bergen County police Officer Robert Duboue pulled over the two men on Route 4 in Fort Lee, after he noticed the vehicle Jimenez was driving was speeding and drifting out of its lane, police said.

Both suspects provided conflicting stories and appeared nervous as the officer questioned them, police said.

Officer Duboue searched the vehicle and found 3,010 decks of heroin in a hidden trap in the vehicle, with an estimated street value of over $100,000, police said.

Heroin allegedly confiscated by Bergen County police from two men in Fort Lee, New Jersey. (Credit: Bergen County Police)

Jimenez and Montero were charged with first-degree possession with intent to distribute heroin, and third-degree possession of heroin, police said. Jimenez was also charged with fourth-degree possessing a false government document, as police allegedly caught him with a fake Pennsylvania drivers license that he tried to use as ID.

The suspects were ordered held on $50,000 bail at the Bergen County Jail pending a court appearance at 1:30 p.m. Tuesday, police said.

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Police: Suspects Caught With Over 3,000 Decks Of Heroin In Fort Lee