The stock market crash that is never going to happen...LOL

[cliffs]

How Biden's November stock market surge compares to those of recent Presidents-elect

President-elect Joe Biden has watched the stock market surge as he prepares to take power next year. The rally appears to be driven largely by the spate of positive coronavirus vaccine news but has nevertheless been helped by some of Biden’s initial moves as President-elect.

The Dow Jones Industrial Average (^DJI) broke 30,000 for the first time one day after the news broke that the President-elect had picked Janet Yellen as his Treasury Secretary.

Mohamed El-Erian, the President of Queens' College University of Cambridge, attributed the booming market this month mostly to the positive vaccine news. But he also noted that we’ve had “clarity of our political transition, we’ve had clarity about appointments” during an appearance Friday on Yahoo Finance

President Trump of course incorrectly predicted that the markets would crash if Biden won.

Trump also often said that a President’s record should be judged based on the stock market following election day, not inauguration day.

Now, as November nears its end, the S&P 500 (^GSPC) is up over 11% for the month and it’s being noted that Biden’s start with the market ranks among the top in recent history for new Presidents.



finance.yahoo.com/news/joe-biden-stock-market-gains-president-elect-donald-trump-172356698.html