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Inauguration Day 2021: How will it Affect the Markets?
Inauguration Day 2021
The federal government will enjoy an off day on Inauguration Day, but the stock and bond markets alike will conduct business as usual.
Former Vice President Joe Biden will be sworn in as the 46th U.S. president on Wednesday, and his to-do-lists will run extraordinarily long as he attempts to drag the country out of the worst pandemic in a century and mend fractures in American politics.
The markets are watching to see how Biden’s plans to combat Covid-19 and his $1.9 trillion stimulus package will fare.
Biden starts off his presidency with a roughly 13% post-Election Day market gain, the best S&P 500 performance between the election and the inauguration for any president going back at least to 1952, according to CFRA.
If history holds, Biden’s stock market should continue to do well, since the average first-year gain for Democratic presidents is 11.3%, according to CFRA.
Earnings season gets busy in the week ahead, with reports from Bank of America, Goldman Sachs and Procter & Gamble.
For more information on other high impact events, read our The Week Ahead 18th – 22nd January 2021.
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