The S&P 500 Index and the Dow Jones Industrial Average have risen sharply as President Joe Biden approaches his first 100 days in office, surpassed by the same stretch only in 1933, when Franklin D. Roosevelt took office. The S&P 500 SPX, -0.08%, rose 10.12% at the close of Wednesday in the 99 days since Biden took office on January 20, while the top-line Dow DJIA rose -0.48%. 9.34% in the same tranche, according to Dow Jones Market Data.
Stocks rose higher at the beginning of the Roosevelt, Biden and Kennedy terms. Dow Jones market data
In general, stocks tend to perform better during the first few months of each new term when a Democratic president occupies the Oval Office, rather than a Republican. While the S&P 500 rose 3.22% on average in the first 100 days of each presidential term, regardless of party, it soared an average of 6.87% after Democrats took over the White House and fell 1, 34% with Republicans, according to Dow Jones Market Data. Biden’s first 100 days have been underscored by a stock market that has soared to all-time highs as trillions of fiscal and monetary stimulus rip through the economy. Yet the health and economic crisis triggered by COVID-19 has widened the gap between the nation’s rich and poor, even as a flood of new pandemic aid has been directed to help the hardest hit families and businesses. See: What Has Biden Wrong in His First 100 Days? Well done? Analysts ring. The new administration has also monitored that approximately 42.7% of the US population receives at least one injection of the COVID-19 vaccine, surpassing its initial targets, while India and other parts of the world battle against time. to contain the increasing rates of infection. Spending has also increased under the Biden administration, even before including his proposed $ 2.3 trillion infrastructure package or the latest list of planned aid to be released Wednesday night to support children and the families. Read: Here’s What’s In Biden’s $ 1.8 Trillion ‘American Families Plan’ While the US economic outlook has improved since Biden took office, it has also been aided by unwavering support from the Federal Reserve since the beginning of the pandemic. Fed Chairman Jerome Powell on Wednesday reaffirmed his promise to keep monetary conditions loose for some time, even as some fear inflation will spiral out of control and markets will overheat. Next: Fed’s Powell ‘Doesn’t Blink’ And 5 Other Things We Learned From His Press Conference