Salient to Investors: Jonathan Glionna at Barclays said: There is insufficient data not enough data – only 21 observations in the last 86 years – to expect a repeat of stocks’ habit of rallying after midterm elections – a median 7% in the 90 days following, with a range of
READ MORE... →Salient to Investors: Chad Morganlander at Stifel Nicolaus said the market is fairly valued at best and will require an improving economic and earnings outlook well above where we stand. S&P say the S&P 500 has not fallen more than 10 percent since October 2011, the longest stretch without such
READ MORE... →Salient to Investors: Swings in US stocks are at the lowest level in 6 years, an indicator that has most often coincided with incumbent parties keeping the presidency in data going back to 1900. Daily changes in the Dow have trailed the 112-year average of 0.75 percent in 13 of 17 instances
READ MORE... →Salient to Investors: 70 percent of S&P 500 companies have beaten analysts’ estimates this quarter. Dow fluctuations this year are the smallest in an election year since 2004, and less than the 112-year average when the incumbents won (13 of 17) and lost (6 of 11). Volatility declines indicate less concern that prices will
READ MORE... →Salient to Investors: Barry Knapp at Barclays says no election has mattered more. Jeff Kleintop at LPL Financial says many industries are heavily influenced by legislation and regulation, so a change in policymakers can have a big impact. S&P Capital IQ says that since 1900, the stock market, economic growth and corporate earnings in
READ MORE... →Salient to Investors: Jeffrey Hirsch at Stock Trader’s Almanac writes: Presidential elections have a profound impact on the economy and the stock market. The last two years of the 44 administrations since 1833 produced a total net market gain of 724 percent versus the 273.1 percent gain of the first two years. Presidents
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