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.
Sign up for Kiplinger’s Free E-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
-
What About Those ‘Guaranteed’ Life Insurance Ads?Guaranteed life insurance policies can sound tempting if you've been declined for insurance elsewhere. Here are four downsides and one alternative.
-
13 Answers to Pressing Social Security QuestionsFrom smart claiming strategies for couples to tips on maximizing your monthly check, we have advice that can help you.
-
Keep Tax Collectors at Bay with Muni Bond FundsMunicipal bonds can be good insurance against inflation — and interest is tax-free. But as with all investments, understanding risk is key.
-
Eight Tips From a Financial Caddie: How to Keep Your Retirement on the FairwayThink of your financial adviser as a golf caddie — giving you the advice you need to nail the retirement course, avoiding financial bunkers and bogeys.
-
Just Sold Your Business? Avoid These Five Hasty MovesIf you've exited your business, financial advice is likely to be flooding in from all quarters. But wait until the dust settles before making any big moves.
-
Cord Cutting Could Help You Save Over $10,000 in 10 YearsHow cutting the cord can save you money and how those savings can grow over time.
-
Should I Buy Stocks or Should I Buy Bonds Right Now?Generally speaking, stocks provide reasonable growth while bonds provide stable income. Each play important roles in diversified portfolios.
-
You Were Planning to Retire This Year: Should You Go Ahead?If the economic climate is making you doubt whether you should retire this year, these three questions will help you make up your mind.
-
Are You Owed Money Thanks to the SSFA? You Might Need to Do Something to Get ItThe Social Security Fairness Act removed restrictions on benefits for people with government pensions. If you're one of them, don't leave money on the table. Here's how you can be proactive in claiming what you're due.
-
From Wills to Wishes: An Expert Guide to Your Estate Planning PlaybookConsider supplementing your traditional legal documents with this essential road map to guide your loved ones through the emotional and logistical details that will follow your loss.
