Voters in six states passed measures to raise their states' minimum wage, and House Democratic leaders, including incoming Speaker Nancy Pelosi, have vowed that an increase in the national minimum wage will be one of the first pieces of legislation they plan to pass when they take control of the chamber in January.
Some people say a higher minimum wage could hurt big retailers by boosting their labor costs, but some analysts argue it could actually give a lift to discounters like Wal-Mart Stores (WMT), Target (TGT) and Costco (COST), as well as fast-food chains like McDonald's (MCD). Wal-Mart, the world's largest retailer, came out in favor of a higher minimum wage a year ago since it would put more money in the pockets of its core customers.
Still, Wal-Mart shares fell, with some analysts expressing concern that the election might make Congress more likely to approve trade sanctions on Chinese imports, a key source of goods for the retailer.