Down to the Wire
If Friday’s session felt familiar, it’s because it was the ninth consecutive session where the S&P 500 finished in the red. This is the longest losing streak for the market since 1980 when the nation rang in the New Year with a recession that lasted from January to July to help set the tone for Ronald Reagan to eclipse Jimmy Carter late in the election cycle and to become president.
In April 1980, the polls had Carter at 40%, Reagan at 34%, and John Anderson at 21%. Two weeks out, Carter was still ahead 45 to 39. On the eve of the election, Reagan surged into a 47% to 44% lead and finished with 51% of the vote to 41%.
Ironically, by reacting to the possibility of Donald Trump ascending to the White House, the stock market is making him a more attractive candidate. Presidential elections tighten naturally, and this one has seen enough ups and down, shocks, and surprises. There are a number of potential scenarios for tomorrow night.
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