It's Like We're Reliving The 1967 Stock Market Summer Of Love

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		Home Tech Finance Markets Politics Strategy Entertainment Advertising Retail Sports Life Tuesday, Aug 6, 2013 It's Like We're Reliving The 1967 Stock Market Summer Of Love "As always, remember history is a guide, never gospel," says stock market historian Sam Stovall. With that in mind, we consider the latest weekly market commentary from LPL Financial's Jeff Kleintop. "It has been a summer of love for the stock market," writes Kleintop. "As the temperatures heated up, so did the stock market. From June 24 to August 2, 2013, the S&P 500 Index rose 9%, pushing stocks up about 20% for the year. The last time we saw stocks perform the way they have this year in both pattern and magnitude was 1967." Kleintop identifies 8 similarities between 1967 and 2013. Here's four: "Bond yields rose over the course of 1967, but most notably from April to August when the 10-year Treasury note rose about one percentage point—similar to this year’s move over the same time period." "Gross domestic project (GDP) averaged a lackluster 2% in the first half of 1967, not too far from the 1.4% growth seen in 2013’s first half." "Recent events still bring forth faint echoes of the race and gender equality struggles of 1967." "The National Security Agency’s (NSA) Project MINARET began in 1967, intercepting electronic communications of U.S. citizens without warrants or judicial oversight. This controversial program can be compared with the revelations in 2013 regarding NSA spying on U.S. citizens." "It can be dangerous to look back selectively," warns Kleintop. "Of course, there are lots of differences between now and 46 years ago, and there is no assurance that stocks will continue to follow the 1967 pattern." Still, it's a fun exercise. "History does not repeat itself, but it does rhyme," said Mark Twain. Read » Also On Markets Today: TECH STOCKS FALL: Here's What You Need To Know Michigan Judge Says Detroit Bankruptcy Is Unconstitutional, Demands Filing Be Withdrawn Advertisement CHART OF THE DAY: China's GDP Numbers Look Almost Too 'Smooth' To Be True CHART OF THE DAY: The Chinese Premier's 2 Favorite Economic Indicators Look Super Depressing CHART OF THE DAY: Here's What It Looks Like When The Bond Market Goes Into A Coma Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.jobhuntportal11@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Markets RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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