President Joe Biden addresses a joint session of Congress at the U.S. Capitol in Washington, U.S., April 28, 2021.If the stock market is considered a barometer of success, President Joe Biden's first 100 days in office is starting off with a bang — a big bang., that is the best 100-day run for a first-term president in more than 75 years. The only other one close was John F. Kennedy in 1963, who also saw a return north of 20%.
Andrew Adams of Saut Strategy noted that EPS growth for the S&P 500 is now north of 30% in the first quarter compared with a year earlier, the best growth in more than 10 years. The Biden administration has also proposed higher corporate taxes, but most analysts also argue that the increase will be far more modest than the proposed 28% rate.
At his press conference Wednesday, Fed Chairman Jay Powell reiterated: "We would have to have made very substantial progress in getting the virus under control" before the Fed would consider tapering, and again insisted that any price increases are likely to be "temporary."
BobPisani Wow... really?
BobPisani Does Biden have dementia ?
BobPisani Wall Street may not have made America but it sure has made Joe Biden's presidency
BobPisani Pelosi's shares had to go up.
BobPisani What stock market are you watching?
BobPisani Biden didn't do a goddamn thing... Everything that has happened to the economy is the direct result of Donald Trump, and the way things are going right now... spending wise ... Biden is going to bankrupt the country in no time