We know that the Stock Market is not the same as a good economy, regardless of what the former White House resident crowed about. The reason is that a significant portion of the economy does not have the luxury of buying stocks. Nearly all of their disposable income goes toward basic survival — rent, food, utilities, and more. Regardless, the Stock Market did do well under Donald Trump. So what is it doing under President Joe Biden?
Trump warned that a Biden win would crash the stock market, CNN Business reported. So, let us see. Friday evening, the Dow, NASDAQ, and S&P 500 markets closed at an historical peak. Biden’s numbers have crushed Trump’s. That trend occurred during comparable timeframes, according to The Forbes Magazine.
All three major indexes:
‘[They] generated greater percentage increases from their respective election days to mid-April. Biden’s outperformance includes from the day of the November 3 election and the Friday after the election since the race was not called until the weekend. Biden’s returns have also beaten Trump’s starting from January 19, the day before they were inaugurated.’
Compare President Biden’s percentages during the time period between the Presidential election in November 2020 to mid-April of 2021 and the same timeframe for Donald Trump in November 2016 through mid-April 2017:
‘S&P 500 and the NASDAQ have risen by 9.2%, 10.4% and 6.4% more under Biden, respectively.’
When Trump won in 2016 over Hillary Clinton, the Dow 30 Industrials closed at 18,333. After he won, that rate continued to rise until it reached mid-December. At that point, it plateaued and held until the first of February:
- ‘From Tuesday, November 8, close: Up 2,121 or 11.6 percent.
- From January 19 (the day before the Inauguration): Up 721 or 3.7 percent. ‘
On the Tuesday of the election between Trump and Biden in November 2020, the Index closed at 28,323. It also increased during the next three days with Biden leading the not-yet-called election. However, the Monday after the election was called the Index jumped upwards and has continually risen:
- ‘From Tuesday, November 3, close: Up 6,721 or 24.5 percent.
- From Friday, November 6, close: Up 5,877 or 20.8 percent.
- From January 19 (the day before the Inauguration): Up 3,270 or 10.6 percent.’
The 45th president saw smaller gains in the S&P 500 as compared to the Dow 30, “8.9 percent from his election day and only 2.9 percent from his inauguration to mid-April 2017:”
- ‘From Tuesday, November 8, close: Up 189 or 8.9 percent.
- From January 19 (the day before the Inauguration): Up 65 or 2.9 percent.’
Between November 3, 2020 and last Friday, the S&P 500 returns were very similar to the Dow’s. However, Biden’s market returns were once again far above Trump’s:
- ‘From Tuesday, November 3, close: Up 816 or 24.2 percent.
- From Friday, November 6, close: Up 676 or 19.3 percent.
- From January 19 (the day before the Inauguration): Up 387 or 10.2 percent.’
Although Trump did better with the NASDAQ, he did not do as well as President Biden during the correlated time periods. The NASDAQ with the highest performing Index for Trump rose 11.8 percent:
- ‘From Tuesday, November 8, close: Up 612 or 11.8 percent.
- From January 19 (the day before the Inauguration): Up 265 or 4.8 percent.’
Although President Biden’s worst performer was the NASDAQ, it was still 6.4 percent higher than Trump’s:
- ‘From Tuesday, November 3, close: Up 2,892 or 25.9 percent.
- From Friday, November 6, close: Up 2,157 or 18.1 percent.
- From January 19 (the day before the Inauguration): Up 855 or 6.5 percent.’
The Mueller Report Adventures: In Bite-Sizes on this Facebook page. These quick, two-minute reads interpret the report in normal English for busy people. Mueller Bite-Sizes uncovers what is essentially a compelling spy mystery. Interestingly enough, Mueller Bite-Sizes can be read in any order.