It’s the biggest stock rise from election to inauguration for any president since Hoover. It also creates another risk for President Biden.
The Biden Bounce is making the stock market’s Trump Bump look pretty flat. The benchmark S&P 500-stock index rose just over 14% on November 3 to Wednesday’s inauguration. That’s more than double the 6% rise that shares saw four years ago in the same time period — from election to inauguration — for Donald Trump. Trump during the campaign predicted that the market would crash if Joe Biden was elected. Instead, the opposite has happened. Shares have risen more between election and inauguration for President Biden than any other president going back to Herbert Hoover. Some of that rise in the market is no doubt a response to the fact that we now have an approved vaccine against the. In mid-December, Pfizer received emergency federal approval for its vaccine and began shipping it to hospitals around the country.
