Biden takes a jab at Trump as stocks surge
- Stock market’s performance under Biden remains worse than under Obama or Trump
- Recent surge prompts Biden to jab at Trump
- U.S. stocks have gained 22.5% since Biden’s inauguration
- Not as good as previous presidents at this point in their terms
- Biden’s market track record could improve as 2020 gets included in comparisons
The stock market’s recent surge to record levels has caught the attention of President Joe Biden, who took the opportunity to mock former President Donald Trump’s prediction of a stock market collapse under the Biden administration. However, despite the recent gains, the overall performance of the stock market under Biden remains worse than that of Obama or Trump. Since Biden’s inauguration, U.S. stocks have gained 22.5%, which is a significant rise over nearly three years. However, this performance falls short compared to previous presidents at this point in their terms. In fact, U.S. stocks under Biden have not fared as well as they did under Trump’s single term or either of Obama’s two terms. The disparity in cumulative equity return has raised concerns among market researchers. Biden’s market track record may improve in the coming months as 2020, the last full year of Trump’s term, gets included in comparisons. It remains to be seen how the stock market will perform under the Biden administration in the future.
Public Companies: S&P 500 index (SPX)
Private Companies:
Key People: Joe Biden (President), Donald Trump (Former President), Philip Lawlor (Managing Director of Market Research at Wilshire Indexes)
Factuality Level: 7
Justification: The article provides factual information about the performance of the U.S. stock market under President Biden compared to previous presidents. It includes data on the percentage gain of the S&P 500 index since Biden’s inauguration and mentions the decline in 2022 due to the Federal Reserve’s interest rate hikes. It also quotes a market research expert from Wilshire Indexes who points out the disparity in cumulative equity return under Biden compared to Trump and Obama. However, the article does not provide a comprehensive analysis of all factors influencing the stock market’s performance and does not consider other economic indicators or policies that may have contributed to the market’s performance.
Noise Level: 3
Justification: The article provides some relevant information about the stock market’s performance under Biden compared to previous presidents. However, it includes unnecessary information about Trump’s prediction and Biden’s response, which is not directly related to the stock market’s performance. The article also lacks scientific rigor and intellectual honesty as it does not provide any evidence or data to support its claims.
Financial Relevance: Yes
Financial Markets Impacted: The article discusses the performance of the U.S. stock market under President Joe Biden’s administration.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article focuses on the stock market’s performance and does not mention any extreme events.
www.marketwatch.com 
