According New York Postin In reports, the US stock markets closed with the inauguration of President Biden, setting high records. “This is the best return on opening day since Reagan’s second term,” Ryan Detrick, chief market strategist at LPL Financial, told the newspaper. The Dow Jones rose 0.8 percent, the Nasdaq rose 2 percent and the S&P 500 rose 1.4 percent. The highs may be taking Wall Street by surprise. When CNBC spoke to more than 100 investors in late December 2020, they predicted that Biden’s mandate would affect the shares. But Ross Mayfield, an investment strategy analyst at Baird, has no difficulty understanding the increase. He credited Biden’s “more than a trillion” stimulus package for the increase.
Meanwhile, President Biden is busy breaking another record that could make Donald Trump jealous. He’s signing executive orders. AP reports that Biden signed 15 executive actions and two directives in an attempt to “back down” Trump’s presidency. You will remember that during his tenure, Trump became famous for signing executive orders. But on the first day, on NBC, he signed just one.