According to a recent pair of reports, the president Joe Biden’s The stock market performed better than his predecessor, and news about his $2 trillion infrastructure plan spurred record highs in certain indexes.
Biden has restored the presidency to Trump’s previous standards, that is, downplaying losses and gains in the stock market as indicators of economic health, but even if he does not brag, the news itself is.
According to Axios, President Biden’s first 50 days in office has increased a lot compared to the predecessor. Barack Obama with Donald Trump:
President Biden did not talk publicly about the performance of the stock market during his tenure, but his performance was slightly higher than that of his boastful predecessor.
From a numerical point of view: the S&P 500 index increased by 4.6% in the first 50 trading days of Biden’s tenure, from the close on January 19 to the close on March 31. Trump’s first 50-day increase was 4.4%, while President Obama’s decline was 6.1%.
As far as the Dow Jones Industrial Average is concerned, Biden’s performance is also better than Trump, but Trump’s performance in the Nasdaq Composite Index surpasses Biden.
The report also pointed out that these presidents inherited different economies, Trump came to power in a years-long recovery, and Biden and Obama took over as presidents after the economic crisis.
After Biden announced the first phase of its $2 trillion infrastructure plan, the British Broadcasting Corporation (BBC) noticed a new stock market record:
After Wall Street hit a record high, Asian markets rose on Friday.
The S&P 500 index broke the 4000-point mark for the first time, and the Nasdaq and Dow Jones indexes also rose.
Investors are encouraged by President Joe Biden’s new US$230 million (£170 million) infrastructure spending plan and optimism about the economy.
While Trump was talking about the stock market throughout his presidency, Biden avoided doing so and even criticized Trump during the presidential campaign because he emphasized the market.
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