Bulletin
Investor Alert

Market Extra Archives | Email alerts

Jan. 20, 2021, 5:24 p.m. EST

Stock market posts best Inauguration Day rise in 36 years as Biden takes office

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Dow Jones Industrial Average (DJIA)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Mark DeCambre

Wall Street appeared to cheer a change of leadership in the White House, producing one of its best returns in nearly four decades on the day of a new president’s inauguration.

Read: Stock-market performance under Trump trails only Obama and Clinton

The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.50% and the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.48% on Wednesday rose 0.8% and 1.5%, respectively, for their best Inauguration Day gains since Ronald Reagan took the oath of office for his second term in 1985, according to Dow Jones Market Data.

The Nasdaq Composite Index’s 2% rise marked the best Inauguration Day rally on record.

On top of the sizable gains, the major benchmarks closed at all-time highs .

Biden takes the reins as the nation continues to reel from the COVID-19 pandemic and remains rattled by deep divisions in American politics, perhaps best highlighted by the violent storming of the Capitol two weeks ago by Trump supporters, which resulted in the death of at least five people.

See: ‘Reckoning’ ahead? Why investors continue to ignore ’emerging market’–style U.S. politics

Biden emphasized unity and recovery from the epidemic in his inaugural address, with the 46th president proposing a $1.9 trillion coronavirus relief package that is likely to face challenges by Republican rivals reluctant to dial up greater national deficits even to limit the depth of the viral-induced economic recession.

Still, many investors see opportunities for further gains in the market if vaccines help to engender a healthy, if not rapid, rebound from the pandemic sometime in the second half of 2021.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
30,932.37
-469.64 -1.50%
Volume: 538.91M
Feb. 26, 2021 5:04p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,811.15
-18.19 -0.48%
Volume: 3.12B
Feb. 26, 2021 5:04p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.