Prior to the swearing in of Joe Biden, the US stock market recorded a record boom. According to global research institution CFRA, the S&P 500 index rose 13% during this period. This is the highest record in the US stock market boom since the swearing in of the presidential election results in the US.
The last such record was in the name of John F. Kennedy. On January 20, 1961, Kennedy was sworn in. The S&P 500 index then rose 8.8% in the 73 days between his winning and swearing. After his swearing in the next hundred days, the market had climbed 8.9% and up.
Comparing the tenure of Bush Senior to Trump, Clinton was the best time for the stock market. His 8-year S&P 500 index rose 211%. The worst term was that of George Bush Sr., when the index dropped 39.5%. Another fact is that the market has given the highest returns during Clinton’s time than any other president.
Market had also visited Trump’s victory
This is the second consecutive time the market has gained between the presidential election and the swearing-in. When President Donald Trump defeated Hillary Clinton in the election in 2016, the market was up 6% until he was sworn in. In the first 100 days of his tenure, the market was up 5%.
However, there is a difference between the case of Trump and Biden. Trump had a strong economy. Biden is becoming President at a time when the economy is suffering from Corona.
The market had slipped 20% at the time of Obama.
When George W. Bush was elected president in November 2000, the S&P 500 index declined by 6% until he was sworn in. In fact, the market was then impacted by a huge decline in dot com companies. Barack Obama was elected President in November 2008 and was sworn in in January 2009. During this time the market had fallen by 20%. Investors were then nervous due to the Lehman Brothers incident.
The market gave the highest 211% returns during Clinton’s time
Before Trump, Barack Obama, George Bush and Bill Clinton, all three had two terms, ie, they were president for 8-8 years. Before Clinton George H.W. Bush was president for four years.