Presidential Communication and Stock Market Reactions: Evidence of Abnormal Returns Following Post-Election Presidential Statements in the 2024 U.S. Election Cycle
Document Type
Article
Publication Date
8-13-2026
Abstract
This paper examines whether U.S. equity markets generate abnormal returns in response to presidential communications following the November 2024 election. Applying event-study methodology to 40 classified communication events, we estimate cumulative abnormal returns (CARs) using the S&P 500 market model over a 250-day estimation window. Positive-sentiment events produce a three-day CAR of +0.97%; negative-sentiment events produce −1.23%, with near-perfect sign consistency (93–100%). Negative events exhibit significant post-announcement reversal (+1.05% over days +2 to +10), consistent with investor overreaction. Sector heterogeneity is pronounced: Energy and Materials exceed 1.1% CAR while Healthcare remains below 0.5%.
Publication
Global Journal of Management and Business Research
Volume
26
Pages
1-11
Department
College of Business and Management
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Peer Reviewed
1
Publication History
RECEIVED 2026-05-25 | ACCEPTED 2026-07-15 | ONLINE PUBLISHED 2026-08-13
Recommended Citation
Wuthisatian (2026). Presidential communication and stock market reactions: Evidence of abnormal returns following post-election presidential statements in the 2024 U.S. election cycle. Global Journal of Management and Business Research, 26, 1-11. https://doi.org/10.34257/GJMBRC257582
