August 19, 2016

THE MARKETS HATE PROTECTIONISM, NATIVISM AND THE ENTITLEMENT STATUS QUO:

Stocks Are Pointing to a Blowout on Election Day (Tom DiChristopher, CNBC)

The last four times the S&P 500 has hit a new high in August during an election year, the victor won in a landslide. That insight comes from Art Cashin, director of floor operations at the New York Stock Exchange for UBS, and was confirmed by CNBC.

History could be poised to repeat itself with the S&P having struck a number of new highs this month, most recently hitting an intraday high of 2,193 and a closing peak of 2,190 on Tuesday.

"It's very rare to make new highs in August to begin with, and when you've done that in an election year, whoever won took 30 or more states, so that will lead to the idea that however this comes out, it might be a landslide," Cashin told CNBC's "Squawk on the Street."

Posted by at August 19, 2016 8:33 PM

  

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