S&P 500 Is Up 37% Since Biden’s Election One Year Ago, Setting Presidential Record
- Benchmark index rises 37% since Joe Biden’s victory in 2020
- Year’s gains primarily driven by vaccine rollout, Schwab says
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The S&P 500 just capped its best year ever following a U.S. presidential election, surging 37% since Joe Biden won the vote.
The benchmark index gained more in the past year since the 2020 election than any other modern president has seen in their first year in office. But the advance has more to do with the “everything rally” following the vaccine rollout than any specific policy decision, Charles Schwab UK Managing Director Richard Flynn said in a note.