(Bloomberg) -- Good or just lucky, Joe Biden’s first three weeks in the stock market have been historically solid ones when measured against newly elected presidents of the past. Since Election Day, the S&P 500 has surged 7.7%, the second-best gain in 90 years and nearly triple the advance that followed Trump’s 2016 victory. “Markets are looking at Biden’s actions, and so far, they like them,” said Yousef Abbasi, global market strategist at StoneX. © Bloomberg Market TallyTo be sure, the president-elect has been the beneficiary of some fortuitous tailwinds, most notably data suggesting various Covid-19 vaccines hold promise. All those things are true, though none of them kept him from saying of Biden: “If he’s elected, the stock market will crash,” in front of 60 million debate viewers.
