A reminder about Bidenomics, the economy that was the envy of the world, per The Economist: [View all]

A reminder about Bidenomics, the economy that was the envy of the world, per The Economist:

"A final look at how the U.S. stock market performed under Joe Biden"

www.morningstar.com/news/marketw...

— Ducati5 (@ducati5.bsky.social) 2025-04-04T02:55:19.960Z

A reminder about Bidenomics, the economy that was the envy of the world, per The Economist:

"A final look at how the U.S. stock market performed under Joe Biden"

https://www.morningstar.com/news/marketwatch/20250119180/a-final-look-at-how-the-us-stock-market-performed-under-joe-biden

By Isabel Wang

U.S. stocks closed out Joe Biden's era on a high note as the president bids farewell to the White House.

The 46th president of the United States is bringing his time at the White House to a close with the S&P 500 SPX up over 55% since he took office on Jan. 20, 2021. The Dow Jones Industrial Average DJIA advanced more than 39% over the same period, while the tech-heavy Nasdaq Composite COMP jumped nearly 46%, according to Dow Jones Market Data.

…….Then in 2023 and 2024, a tech-fueled earnings recovery and the artificial-intelligence frenzy propelled U.S. stocks to historic levels. The S&P 500 scored back-to-back double-digit annual gains by the end of 2024 - and is now kicking off its third year in a bull market.

See: The Biden economy: Just how good was it? Here's the highs and lows of the 46th president.

David Russell, global head of market strategy at TradeStation, said there was "an explosive surge" in cyclical sectors of the economy that benefited from the reopening after the pandemic and the Biden administration's landmark Inflation Reduction Act in 2022, which "really spurred industrial activities that in many ways triggered higher interest rates and the bear market of 2022," he told MarketWatch on Friday.