• Latest
  • Trending
  • All
  • News
  • Business
  • Lifestyle
Biden Leaves His Mark on Markets in First 100 Days

Biden Leaves His Mark on Markets in First 100 Days

April 29, 2021
MICHELE STEEB: A New Chapter For America’s Homeless: Structure, Recovery, And Hope

MICHELE STEEB: A New Chapter For America’s Homeless: Structure, Recovery, And Hope

July 26, 2025
JAMES CARTER: America’s Capex Comeback

JAMES CARTER: America’s Capex Comeback

July 26, 2025
NEWT GINGRICH: Trump Boom Or Democrat Gloom

NEWT GINGRICH: Trump Boom Or Democrat Gloom

July 26, 2025
JOSH HAMMER: Grading The Second Trump Presidency, Six Months In

JOSH HAMMER: Grading The Second Trump Presidency, Six Months In

July 26, 2025
Leftist Outrage Erupts At California Plan To Stop Paying Criminal Illegals’ Legal Bills

Leftist Outrage Erupts At California Plan To Stop Paying Criminal Illegals’ Legal Bills

July 26, 2025
Mexican Border State Asks Tourists to Travel Highways Only in Daylight Hours

Mexican Border State Asks Tourists to Travel Highways Only in Daylight Hours

July 26, 2025
LARRY ELDER: Dems Rail Against Colbert’s Cancellation — Here’s Why

LARRY ELDER: Dems Rail Against Colbert’s Cancellation — Here’s Why

July 26, 2025
Estado Fronterizo Mexicano Pide a Turistas Viajar Solo de Día

Estado Fronterizo Mexicano Pide a Turistas Viajar Solo de Día

July 26, 2025
Biden-Appointed Judge Tosses Lawsuit Against Sanctuary City Chicago

Biden-Appointed Judge Tosses Lawsuit Against Sanctuary City Chicago

July 26, 2025
NEWT GINGRICH: Beyond The August Recess

NEWT GINGRICH: Beyond The August Recess

July 26, 2025
CBS Trades One 60 Minutes Liberal Insider For Another

CBS Trades One 60 Minutes Liberal Insider For Another

July 25, 2025
JENNY BETH MARTIN: No Amnesty: America’s Immigration System Must Respect The Rule Of Law

JENNY BETH MARTIN: No Amnesty: America’s Immigration System Must Respect The Rule Of Law

July 25, 2025
  • Donald Trump
  • State of the Union
  • Elon Musk
  • Tariffs
  • Congress
  • Faith
  • Immigration
Sunday, July 27, 2025
  • Login
IJR
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls
No Result
View All Result
IJR
No Result
View All Result
Home News

Biden Leaves His Mark on Markets in First 100 Days

by Reuters
April 29, 2021 at 7:25 am
in News
250 2
2
Biden Leaves His Mark on Markets in First 100 Days

President Joe Biden addresses a joint session of Congress in Washington, U.S., April 28, 2021. (Melina Mara/Reuters)

491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

U.S. President Joe Biden’s first 100 days in office have left an imprint on financial markets, as stocks extended last year’s gains, the dollar stagnated and bond yields rose.

The S&P 500 has is on pace to rise 10% during Biden’s first 100 days, surpassing gains in the same time period for any president in the last four decades.

Counting the benchmark stock index’s advance from election day to Biden’s 100th day in office, the index has risen about 25%, making for “the greatest post-election equity gains of any incoming president in at least 75 years,” according to analysts at J.P. Morgan.

Of course, the market has been on a strong upward path since tumbling last March in the wake of the coronavirus, with the S&P rallying 90% from its lows in 2020 on a combination of massive stimulus from the Federal Reserve and U.S. lawmakers and helped by strong interest from homebound retail investors.

Still, many market watchers believe at least some of the market’s gains this year are attributable to the $1.9 trillion in stimulus Biden has already pushed through, as well as a proposed $2.3 trillion infrastructure plan.

While stocks soared on growing investor appetite for risk, the safe haven dollar languished. The greenback is on pace for a gain of 0.1% gain against a basket of six major currencies, the smallest change ever in the first 100 days for any president over the last four decades.

Near zero U.S. interest rates and the Fed’s assurances of maintaining an accommodative stance for as long as it takes for the U.S. economy to heal have been among the factors weighing the dollar down.

The greenback did receive some support from a sharp climb in Treasury yields over the first quarter that pushed speculative investors to cut bearish bets on the U.S. currency.

That move in yields has stalled in the second quarter, however, leaving the dollar floundering once again.

Expectations for a stronger “green energy” push under a Biden administration drove investors to pour money into stocks in the alternative energy sector.

Shares of the Invesco Solar ETF rose 65% between election day and Jan. 20, when Biden took office. Shares of cannabis ETF ETFMG Alternative Harvest advanced nearly 70% over the same period.

That rally, however, has cooled with shares of both ETF’s peaking soon after Biden took office.

One of the strongest sectors during the first 100 days of Biden’s term has been communication services, which includes Facebook and Google-parent Alphabet, despite calls from lawmakers for greater regulation.

Meanwhile, a rotation into the shares of financials, energy companies and other so-called value stocks on expectations of a powerful economic rebound accelerated in 2021.

A large majority of S&P 500 components have risen since Jan. 20, while the healthcare sector has the greatest number of stocks still in negative territory since Biden’s inauguration.

(Reporting by Saqib Iqbal Ahmed and Noel Randewich; Editing by David Gregorio)

Tags: Joe Biden
Share196Tweet123
Reuters

Reuters

Reuters is an international news organization.

Advertisements

Top Stories June 10th
Top Stories June 7th
Top Stories June 6th
Top Stories June 3rd
Top Stories May 30th
Top Stories May 29th
Top Stories May 24th
Top Stories May 23rd
Top Stories May 21st
Top Stories May 17th

Join Over 6M Subscribers

We’re organizing an online community to elevate trusted voices on all sides so that you can be fully informed.





IJR

    Copyright © 2024 IJR

Trusted Voices On All Sides

  • About Us
  • GDPR Privacy Policy
  • Terms of Service
  • Editorial Standards & Corrections Policy
  • Subscribe to IJR

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls

    Copyright © 2024 IJR

Top Stories June 10th Top Stories June 7th Top Stories June 6th Top Stories June 3rd Top Stories May 30th Top Stories May 29th Top Stories May 24th Top Stories May 23rd Top Stories May 21st Top Stories May 17th