What a Presidential Election Means for Stocks in 2024
$Bank of America(BAC.US$ highlights 2024 as a pivotal year for stocks, marking the fourth year of the presidential cycle, traditionally the second-strongest for market returns with the $S&P 500 Index(.SPX.US$ averaging gains of 10.7% and 7.5%. This pattern is often attributed to the president's efforts to stimulate the economy through fiscal spending for re-election purposes. Historical trends show a 75% win ratio for stocks in this phase, although gains typically materialize in the latter half of the year and may be uneven.
Average monthly returns for the S&P 500 during Presidential Cycle Year 4 show a lackluster January through May, a June through August summer rally, a September through October pre-election dip and a November through December post-election relief rally," Bank of America technical strategist Stephen Suttmeier said in a recent note.
Suttmeier expects stock returns to be positive in 2024 despite potential early volatility. This optimism is based on strong foundations in major stock indices ready to break out and support from the high-yield market, which backs the recent risk-on rally.
Source: Bloomberg, Business Insider
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71016678 : Can someone send this to Trump?