Broker of the Week Oanda - Read Full Review

Free Top Brokers Comparison Service


Stock market logs best Inauguration Day rise in 36 years as Biden takes office


Wall Street appeared to cheer a change of leadership in the White House, producing one of its best returns in nearly four decades on the day of a new president’s inauguration.

Read: Stock-market performance under Trump trails only Obama and Clinton

The Dow Jones Industrial Average
and the S&P 500 index
on Wednesday rose 0.8% and 1.5%, respectively, for their best Inauguration Day gains since Ronald Reagan took the oath of office for his second term in 1985, according to Dow Jones Market Data.

Dow Jones Market Data

The Nasdaq Composite Index’s 2% rise marked the best Inauguration Day rally on record.

Dow Jones Market Data

On top of the sizable gains, the major benchmarks closed at all-time highs.

Biden takes the reins as the nation continues to reel from the COVID-19 pandemic and remains rattled by deep divisions in American politics, perhaps best highlighted by the violent storming of the Capitol two weeks ago by Trump supporters, which resulted in the death of at least five people.

See: ‘Reckoning’ ahead? Why investors continue to ignore ’emerging market’–style U.S. politics

Biden emphasized unity and recovery from the epidemic in his inaugural address, with the 46th president proposing a $1.9 trillion coronavirus relief package that is likely to face challenges by Republican rivals reluctant to dial up greater national deficits even to limit the depth of the viral-induced economic recession.

Still, many investors see opportunities for further gains in the market if vaccines help to engender a healthy, if not rapid, rebound from the pandemic sometime in the second half of 2021.


Source link

We will be happy to hear your thoughts

      Leave a reply

      Trading foreign exchange on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

      Advertiser Disclosure: helps investors across the globe by spending over hours each month testing and researching online brokers.

      How do we make money? Our partners compensate us through paid advertising.

      While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site.

      Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.

      Disclaimer: It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective.

      While has some data verified by industry participants, it can vary from time to time.

      Operating as an online business, this site may be compensated through third-party advertisers.

      Our receipt of such compensation shall not be construed as an endorsement or recommendation by, nor shall it bias our reviews, analysis, and opinions.

      Best Forex Brokers Reviews
      Reset Password
      Compare items
      • Total (0)