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- Strong stock market performance to start a year has historically favored incumbent presidential candidates seeking reelection, according to Ned Davis Research.
- This has been especially true for Democrats, the firm said.
- The S&P 500 is up roughly 8% so far in 2024.
The stock market's strong rally in the first two months of 2024 bodes well for President Joe Biden's re-election chances in November.
"A strong start to the year for stocks has tended to foreshadow an incumbent victory, especially for Democrats," Ned Davis Research strategist Ed Clissold said.