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Clinton or Trump? Stocks don't care much: Analysts

The market would likely welcome the predictability of a Hillary Clinton presidency, but market watchers shouldn't expect the election to tip stocks one way or the other, analysts told CNBC on Wednesday.

"The research we've done suggests that over long periods of time, the party that controls the White House doesn't have that much of an effect on the stock market," Ed Keon, managing director at QMA, told CNBC's "Squawk Box."

Overwhelming victories by Clinton and Republican presidential front-runner Donald Trump in New York's primary on Tuesday put both candidates closer to clinching their party's nomination,

Markets have a bias toward the status quo, Keon said. Whether or not market participants agree with Clinton's policies, they see her potential election as providing continuity by essentially extending the Obama administration, he said.

Chuck Gabriel, president and political specialist at Capital Alpha Partners, also said stocks are likely to do well against the backdrop of certainty that a Clinton administration would provide. But he said Trump would likely fall in line with the Republican establishment and work with a GOP Congress.

"I think he'd be co-opted … by a lot of the things a Republican Congress would draw him towards," Gabriel told "Squawk Box."

He said Trump is a supply-side politician who is more likely to tackle tax reform than trade, despite his protectionist rhetoric on the campaign trail.

Gabriel also cautioned against reading too much into the White House's influence on stocks.

For example, Republicans may be more vocal about increasing oil production and friendlier to hydraulic fracturing, but investors don't necessarily think their support would have any near-term impact, he said.

"That's not really sort of a binary decision with regard to investors. It's much more long term," he said.