Karee Venema
U.S. stock markets will be closed today in observance of a national day of mourning and a state funeral to honor President Jimmy Carter, who died on Sunday, December 29, at the age of 100. The bond market will close early at 2 pm Eastern Standard Time.
The 39th president, Carter served from January 1977 to January 1981. As Ryan Detrick, chief market strategist at Carson Group, notes on X, during his presidential term the S&P 500 gained 27.6%, an annualized return of 6.3%.
His term was defined by high inflation and low economic growth, a set of circumstances that inspired the term stagflation, as well as the Camp David Accords and the Iran hostage crisis.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The longest-living chief executive in U.S. history, Carter's post-presidency is widely held as a standard for behavior once one leaves the White House based on his international peace efforts and his work with Habitat for Humanity.
"The New York Stock Exchange mourns the passing of Jimmy Carter at the age of 100 on Sunday," wrote Patricia Medina, market strategy analyst at the New York Stock Exchange, in a note Monday. "He was the 39th U.S. President and his leadership and humanitarian efforts left a lasting impact on our nation and the world."
"President Carter was an exemplary leader, one who tirelessly continued his efforts to improve the human condition even after his tenure in public office was complete," said Tal Cohen, president of Nasdaq, in a statement. "His contributions will be felt by those around the world for years to come."
The NYSE and Nasdaq typically observe 10 stock market holidays each year, while regular trading hours fall between 9:30 am and 4:00 pm Eastern time on weekdays.
Markets usually close when a former president dies. They were most recently shuttered in December 2018 for the funeral of former President George H. W. Bush.
Related content
-
S&P 500 Slips Ahead of Fed Week: Stock Market TodayAll eyes are on the Federal Reserve ahead of next week's critical policy meeting.
-
September Fed Meeting: Live Updates and CommentaryThe September Fed meeting is a key economic event, with Wall Street keyed into what Fed Chair Powell & Co. will do about interest rates.
-
I'm an Investment Strategist: This Is How the Fed's Next Rate Move Could Impact Your WalletInterest rate cuts might be coming, which could affect everything from your credit card debt to your mortgage. It's smart to prepare now — here's how.
-
I'm a Retirement Planner: These Are Three Common Tax Mistakes You Could Be Making With Your InvestmentsDon't pay more tax on your investments than you need to. You can keep more money in your pocket (or for retirement) by avoiding these three common mistakes.
-
Want to Shave 10 Hours Off Your Workweek? A Startup Expert Shows How AI Can HelpArtificial intelligence is overhauling how companies operate, freeing up entrepreneurs and their workers to skip the menial stuff and get down to business.
-
Dow Gains 617 Points as Rate Cuts Near: Stock Market TodayWednesday's economic data didn't shift Wall Street's expectations that the Fed is preparing for a rate cut at next week's meeting.
-
Hot August CPI Report Doesn't Shift the Rate-Cut Needle: What the Experts SayThe August CPI came in higher than forecast on a monthly basis, but Wall Street still expects a rate cut at next week's Fed meeting.
-
Four Clever and Tax-Efficient Ways to Ditch Concentrated Stock Holdings, From a Financial PlannerHolding too much of one company's stock can put your financial future at risk. Here are four ways you can strategically unwind such positions without triggering a massive tax bill.
