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Biden’s first 100 days S&P500 11%↑… Best since Roosevelt in 1933

US Senate and House Speakers Applauding Biden's First Congressional Speech

picture explanationUS Senate and House Speakers Applauding Biden’s First Congressional Speech

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In the first 100 days of the inauguration of US President Joe Biden, the New York Stock Market was found to have recorded the second-highest increase in history.

The Wall Street Journal (WSJ) and Market Watch quoted Dow Jones market data on the 29th (local time), citing President Biden’s first 100 days, the Standard & Poor’s (S&P) 500 Index was 10.86%, and the Dow Jones 30 Industrial Average was 10.12. % Each reported an increase.

President Biden, who took office on January 20, marked his 100th inauguration.

This is the second place among the 100-day stock market report cards since the inauguration of the previous US president.

Except for the early days of President Franklin Roosevelt’s inauguration in 1933, when the S&P 500 and Dow soared 79.62% and 75.4%, respectively, immediately after the Great Depression, no former president was ahead of Biden’s “first 100 days”.

In the case of former President Donald Trump, who was proud of his economic performance, the S&P 500 index rose 5.32% for 100 days after taking office, ranking 8th.

According to Dow Jones Market Data, since President Herbert Hoover in 1929, the average rate of increase in the S&P 500 index for the first 100 days of inauguration was 3.25%.

The average S&P 500 increase rate of Democratic presidents for the first 100 days was 6.92%, far exceeding the average of Republican presidents (1.34%).

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New York Stock Exchange

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However, the WSJ pointed out that the president’s political party or propensity had little to do with the stock market. Rather, corporate performance and economic growth have a far greater impact.

In the case of President Biden, there is a side that directly supported the rise in stock prices with an additional stimulus amounting to $1.9 trillion and an infrastructure investment plan amounting to $2.5 trillion, but the supply of a novel coronavirus infection (corona 19) vaccine and each state It is analyzed that the easing of operating restrictions also exerts an equal influence.

“Economic activity has resumed and there are strong consumers and people who have been vaccinated,” said Victoria Fernandez, chief strategist at Crossmark Global Investments. “It’s a very positive factor.”

With President Biden’s additional $1.8 trillion worth of “US Family Plan” before his inauguration 100 days before his inauguration, the US’s GDP growth rate of 6.4% in the first quarter announced on the same day was also a boon for the stock market. did. This is the largest growth since 2003, excluding the third quarter of last year, when the base effect was large.

On this day, the S&P 500 index on the New York Stock Exchange closed at 4,211.47, up 28.29 points (0.68%) from the battlefield, breaking the record high again.

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