Banks rise in choppy Europe stock markets
Tokyo down for 7th straight day; Asia mostly lower
Cash to flow into beleaguered gold miners?
European stocks rise, led by banks, miners
Spain industrial production falls 5.1% in February
FTSE MIB Italy index up 4% to 14,515.15
Spain IBEX 35 index up 0.3% to 7,457.60
German DAX 30 index up 0.4% to 6,634.81
French CAC 40 index down 0.1% to 3,213.80
Spain March industrial output off 5.1% vs year ago
FTSE 100 index down 0.1% to 5,591.30
Stoxx Europe 600 index flat at 252.74
China shipper shares drop after warning of Q1 loss
China stocks dip after Beijing suspends official
Japan's Nikkei closes down 0.8% at 9,458.74
Sands' Adelson plans $35 bln investment in Spain
Gold futures retreat in electronic trading
Dollar edges lower after Alcoa posts a profit
Oil bounces a bit as U.S. stock futures rise
The Bundesbank will stamp out this rally
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April typically is a strong month for the U.S. stock market, but not in presidential election years.
Since 2006, stocks have risen every April, gaining an average of 4.2%, and April is the best month for the Dow Jones Industrial Average .bgChannel, .bgRealtimeChannel, .bgRevision { display: none; } /quotes/zigman/627449 DJIA since 1950, according to the Stock Trader’s Almanac.
"Election year April has been about half as good with the Dow up only about 1% back to 1950 and Nasdaq .bgChannel, .bgRealtimeChannel, .bgRevision { display: none; } /quotes/zigman/123127 COMP actually going negative in election years," said Jeffrey Hirsch, the Almanac’s editor-in-chief, in a report Tuesday. "There tends to be quite a bit of selling in April after you have a better idea of who the contenders will be for the national election."
Read more: Where to go if you “sell in May.”
While April is soggy for stocks, the full election year tends to be positive. This year, “a low point in the summer or just ahead of the election will offer a decent buying opportunity," Hirsch said. The last seven months of election years have seen gains for the Standard & Poor’s 500-stock index .bgChannel, .bgRealtimeChannel, .bgRevision { display: none; } /quotes/zigman/3870025 SPX in 13 of the 15 presidential elections since 1950, according to the Almanac. Since 1896, there have only been six full-year election year declines greater than 5%.
An incumbent president running for a second term also helps the market, whether the president is reelected or not. Nineteen times since 1896 a sitting president ran for reelection. The average gain for the Dow in these 19 years was 9%; only five of those years were losers.
The market tends to rally big in November if an incumbent is ousted, Hirsch noted. But the first five months post-election have been better when incumbents win, and the market does better in election years when incumbents win.
– Jonathan Burton
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Intraday Data provided by SIX Telekurs and subject to terms of use. Historical and current end-of-day data provided by SIX Telekurs. Intraday data delayed per exchange requirements. Dow Jones Indexes (SM) from Dow Jones & Company, Inc. All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More information on NASDAQ traded symbols and their current financial status. Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Dow Jones IndexesSM from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Telekurs and is at least 60-minutes delayed. All quotes are in local exchange time.
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