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
-
You Don’t Want to Retire in Portugal: Here Are Three Tax Reasons WhyRetirement Taxes With the NHR benefit retiring and pension taxes increasing, you might rethink your retirement plans in Portugal.
-
Home Depot's Winning Ways Fueled Its 100,000% ReturnHome Depot's wide moat leaves little room for competition – and shareholders have profited as a result.
-
Home Depot's Winning Ways Fueled Its 100,000% ReturnHome Depot's wide moat leaves little room for competition – and shareholders have profited as a result.
-
Apple's 100,000% Return Is a Result of Innovation, Brand Loyalty and BuybacksApple spends billions buying back its own shares, but this is just one catalyst behind the incredible growth in its share price.
-
Has This Unconventional Growth Fund Lost Its Mojo?The Primecap Odyssey Growth Fund has lagged the broader S&P 500, but it still boasts a solid return and provides investors with diversification.
-
Five Key Retirement Challenges (and How to Face Them Head On)Life will inevitably throw challenges at you as you get older. But making a flexible retirement plan — and monitoring it regularly — can help you overcome them.
-
Four Action Items for Federal Employees With $2M+ SavedIf you can't stand the chaos, maybe you can walk off into the sunset of retirement. Here are some thoughts on how to figure out if that would work for you.
-
How to Help Accelerate Support for Women's EqualityIt's International Women's Day, and the theme this year is Accelerate Action. Here's how we can all pitch in to help drive gender parity.
-
Stock Market Today: Stocks Swing Higher on Powell SpeechInvestors cheered after Fed Chair Powell repeated his confidence in the strength of the U.S. economy.
-
Mixed Jobs Report Offers Relief for Now: What the Experts Are SayingThe February employment figures were rough around the edges but largely met expectations.
