Stocks Hit All-Time Highs as Biden Inaugurated

Dow jumps more than 200 points
By Rob Quinn,  Newser Staff
Posted Jan 20, 2021 12:41 PM CST
Stocks Hit All-Time Highs as Biden Inaugurated
Joe Biden is sworn in as the 46th President of the United States by Chief Justice John Roberts.   (AP Photo/Andrew Harnik, Pool)

Then-President Trump often warned that stock markets would crash if Joe Biden was elected president—but that definitely wasn't the case after the election, or when Biden was sworn in Wednesday. The S&P 500 and Nasdaq hit all-time highs in trading Wednesday and the Dow Jones Industrial Average was closing in on the record by early afternoon after jumping more than 200 points, Fox Business reports. Stocks have been rising on hopes that Congress will deliver more stimulus under Democratic leadership. According to Ryan Detrick, chief market strategist for LPL Financial, the Dow performed better under Trump than any Republican president since Calvin Coolidge in the 1920s, the AP reports, though it didn't match the returns under Barack Obama and Bill Clinton, the previous two Democratic presidents. (More stock market stories.)

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