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Posted On: 01/16/2021 8:36:51 AM
Post# of 27263
MARKET INSIDER
Biden heads into inauguration with a stock market tailwind
PUBLISHED FRI, JAN 15 20213:36 PM ESTUPDATED FRI, JAN 15 20214:29 PM EST
Patti Domm
KEY POINTS
Joe Biden will be inaugurated as the 46th U.S. president Wednesday, and markets are watching to see how both his plan to combat Covid and his $1.9 trillion stimulus package will fare.
Biden starts off his presidency with a roughly 13% post-Election Day market gain, the best S&P 500 performance between the election and the inauguration for any president going back at least to 1952, according to CFRA.
If history holds, Biden’s stock market should continue to do well, since the average first-year gain for Democratic presidents is 11.3%, according to CFRA.
Earnings season gets busy in the week ahead, with reports from Bank of America, Goldman Sachs and Procter & Gamble.
U.S. President-elect Joe Biden speaks as he announces members of economics and jobs team at his transition headquarters in Wilmington, Delaware, January 8, 2021.
Biden heads into inauguration with a stock market tailwind
PUBLISHED FRI, JAN 15 20213:36 PM ESTUPDATED FRI, JAN 15 20214:29 PM EST
Patti Domm
KEY POINTS
Joe Biden will be inaugurated as the 46th U.S. president Wednesday, and markets are watching to see how both his plan to combat Covid and his $1.9 trillion stimulus package will fare.
Biden starts off his presidency with a roughly 13% post-Election Day market gain, the best S&P 500 performance between the election and the inauguration for any president going back at least to 1952, according to CFRA.
If history holds, Biden’s stock market should continue to do well, since the average first-year gain for Democratic presidents is 11.3%, according to CFRA.
Earnings season gets busy in the week ahead, with reports from Bank of America, Goldman Sachs and Procter & Gamble.
U.S. President-elect Joe Biden speaks as he announces members of economics and jobs team at his transition headquarters in Wilmington, Delaware, January 8, 2021.
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