Market reaction in the New Biden Administration
The country has been through a lot for the last couple of months, and with the recent presidential transition - it is reasonable to have anxiety about the economy. There are numerous pressing issues from a global pandemic to an economy that is stagnant with high unemployment.
What is the sentiment on The Street since VP Biden was named as the president elect?
What is the sentiment since President Biden was sworn in?
The economic factors points to a optimistic economic outlook – even with the headwind of a global pandemic.
Down Jones Up by +10.1% since Nov 8, 2020
If Down Jones is as an indicator, since Joe Biden was called by Associated Press on Nov 8, 2020 as the new President – Wall Street felt bullish and the stock market has been on a positive trajectory. On Nov 6, 2020, the last trading day on Wall Street, the market closed at 28,323.40 and on the close of the market after President Biden was sworn in, the market closed at 31,188.38.
For more indicators and prediction, read the article on the blog.
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