Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Hey, hey, LBJ, how many kids have you killed today? By: Humble Student of the Markets July 21, 2024 at 18:20 PM EDT Well, well, the Biden decision to withdraw from the presidential race certainly put a new spin on stock market behaviour. According to Ryan Detrick, stock prices don't behave well during election years of lame duck presidents.That said, "lame duck" years often refer to a second term president. The closest analogues to the current circumstances could be 1968. When LBJ, under severe pressure over the opposition to the Vietnam war, said on national television, "I will not seek, nor will I accept the nomination of my party". Baby Boomers may remember the chant, "Hey, hey, LBJ, how many kids have you killed today?" His successor, Hubert Humphrey, won a controversial nomination (remember the riots outside the convention in Chicago). A divided party lost the White House to Nixon. The market also topped out in 1968.The second closest analogue was 1980, when Jimmy Carter won a bitter fight for his party's nomination over Ted Kennedy, Carter, who was also politically wounded over the nomination fight, lost to Reagan that year. The market also topped out in 1980.The full post can be found here. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Hey, hey, LBJ, how many kids have you killed today? By: Humble Student of the Markets July 21, 2024 at 18:20 PM EDT Well, well, the Biden decision to withdraw from the presidential race certainly put a new spin on stock market behaviour. According to Ryan Detrick, stock prices don't behave well during election years of lame duck presidents.That said, "lame duck" years often refer to a second term president. The closest analogues to the current circumstances could be 1968. When LBJ, under severe pressure over the opposition to the Vietnam war, said on national television, "I will not seek, nor will I accept the nomination of my party". Baby Boomers may remember the chant, "Hey, hey, LBJ, how many kids have you killed today?" His successor, Hubert Humphrey, won a controversial nomination (remember the riots outside the convention in Chicago). A divided party lost the White House to Nixon. The market also topped out in 1968.The second closest analogue was 1980, when Jimmy Carter won a bitter fight for his party's nomination over Ted Kennedy, Carter, who was also politically wounded over the nomination fight, lost to Reagan that year. The market also topped out in 1980.The full post can be found here.
