Former Vice President Joe Biden will be sworn in as the 46th US president on Wednesday, and his to-do lists will work extraordinarily long as he tries to pull the country out of the worst pandemic of the last century and fix political fractures. American.
But, at least in part, Biden’s supporters could point to the Presidential impact of the president who entered the stock market since the November 3 elections as an early achievement, even if it is difficult to establish all the recent gains of the regime change from Donald Trump to Biden.
Read: Joe Biden will be inaugurated as the 46th president: Here’s how to watch
Looking back historically, the all-time champion of election-to-inauguration performance was Republican President-elect Herbert Hoover, who ran a 13.3% rally in the S&P 500 SPX,
between his election of November 6, 1928 and the first day in office.
In the 11 weeks between the November 3 and Tuesday elections, the S&P 500 rose 12.76%, according to FactSet data.
This return places Biden in slot no. 2 in performance, after Republican Hoover, with an external blow to eclipse Commander-in-Chief Iowan with a mandate, who served between 1929 and 1933 and found his legacy linked to soup lines and the economic crisis.
Dow Jones market data
Hoover’s presidency was affected by the stock market crash of 1929, which took place about eight months after his tenure and will eventually be seen by many as the starting point of the Great Depression.
However, Biden hopes for a more favorable presidency, even if his term begins in a terrible period of the COVID-19 pandemic.
Dow Jones market data
On Tuesday, the US surpassed a stage of more than 400,000 deaths reported due to COVID-19, as the deadly pathogen that spread almost a year ago sees a new reappearance.
Meanwhile, the US is faltering in an apparent insurgency, where thousands of protesters, namely those who claim to be supporters of Trump, stormed the Chapter two weeks ago, leading to a second historic dismissal of the 45th. -the president, who was accused of helping to incite riots that led to the deaths of five people.
Perhaps, more than any other president, Trump has attracted success as a leader in the performance of the economy and the stock market, which have collapsed as a result of the viral outbreak. The loss of Trump’s election was largely linked to the management of the public health crisis.
The pandemic has colored the US presidential election, leading to a historic number of remote votes to limit the spread of the virus and delay returns in some states. The Associated Press did not declare Biden a winner in the key states until November 7.
And while Biden had a hand in the recent market advance for the S&P 500, the Dow Jones Industrial Average DJIA,
and Nasdaq Composite Index COMP,
since November, gains have also come from the launch of high-efficiency vaccines reported by Pfizer PFE,
-BioNTech BNTX,
and Modern MRNA,
helping to strengthen hopes for a short-term economic recovery from the epidemic.