Stock Market

Biden’s First 100 Days Were Historic for the Stock Market. What Happens Next.

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President Joe Biden on Oct. 29, 2020.


JIM WATSON/AFP via Getty Images

Joe Biden’s
100th day in office is this Thursday, and the stock market is on pace to record its best start to a president’s term since that of
Franklin D. Roosevelt
in 1945. The

S&P 500 index

is up nearly 9% since inauguration day, trailing FDR’s fourth term by about a percentage point.

Of course, there are a multitude of influences that determine what the stock market does over any period, and the impact of any particular president or another is debatable. Continued easy monetary policy,

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Why Did the Stock Market Fall Today? Biden Pulled the Plug

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Stocks were only moderately lower until a report that President Joe Biden was considering raising capital-gains taxes. The three major U.S. stock indexes ended materially lower.

Stocks dove Thursday on a report that President Joe Biden will propose a hefty increase in capital-gains taxes.

The

Dow Jones Industrial Average

fell 321.41 points, or 0.94%, to close at 33,815.90. The

S&P 500

dropped 38.44 points, or 0.92%, to end at 4,134.98, and the

Nasdaq Composite

tumbled 131.81 points, or 0.94%, to close at 13,818.41. The biggest gainer in the S&P 500 was credit-reporting agency

Equifax

(ticker: EFX), which saw

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Stock Market Rally Retreats, Bitcoin Dives Amid Biden Capital Gains Tax Plan; Netflix, Snap, United Airlines In Focus

The stock market rally suffered declines, in part on reports that President Joe Biden will propose nearly doubling the capital gains tax rate on the wealthy. But the Dow Jones, S&P 500 and Nasdaq all closed the week only slightly lower, while the Bitcoin price plunged. Medical plays such as Tenet Healthcare (THC) and Intuitive Surgical (ISRG) soared as earnings rebound with elective procedures. Snap (SNAP) and ASML (ASML) also were earnings winners, while Netflix (NFLX) and United Airlines (UAL) sold off on results.




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Stocks Retreat Amid

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Stock Market Today: Dow, S&P Live Updates for Apr. 23, 2021

Stocks climbed after strong economic data added to evidence the recovery is gaining momentum, with traders also assessing a batch of corporate earnings. The dollar retreated.

Most major groups in the S&P 500 advanced, led by financial and material shares. A gauge of smaller companies outperformed major benchmarks, while Tesla Inc. and Apple Inc. paced gains in megacap stocks. Blue chips Honeywell International Inc., American Express Co. and Intel Corp. weighed on the Dow Jones Industrial Average after their quarterly results.

Equities whipsawed this week amid a flare-up in global coronavirus cases and news that the White House plans

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Stocks Rise, but Decline for the Week

Investors piled back into stocks Friday, lifting all three major U.S. indexes, as fresh data underscored that a strong economic recovery is under way.

The rally capped a volatile week for the U.S. stock market, during which major indexes swung widely in both directions. Stocks started Monday lower and then posted a mid-week rebound, before tumbling sharply Thursday on reports that President Biden is considering nearly doubling capital-gains taxes on the wealthy. The news—which immediately sent stocks lower—seemed to all but cement sizable losses for the week.

Yet strong economic data released Friday instead spurred a sharp rebound in equities

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Now That Everyone Is Bullish, Be Cautious

As businesses shuttered and workers stayed home, the gross domestic product, a broad measure of goods and services, plummeted in the United States. G.D.P. dropped 5 percent in the first quarter of 2020 and more than 31 percent in the second, according to the federal Bureau of Economic Analysis. The unemployment rate surged more than 10 percentage points from March to April last year, nearly reaching 15 percent. That was the highest level and the biggest increase since the Bureau of Labor Statistics began collecting data in January 1948.

In March 2020, the Federal Reserve stepped in. On its own,

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5 things to know before the stock market opens Friday, April 23

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Stocks to bounce after Biden capital gains concerns slammed Wall Street

Traders on the New York Stock Exchange.

Source: NYSEa

2. Bitcoin, other cryptos sink and shave $200 billion off global market

A visual representation of the cryptocurrency Bitcoin on November 21, 2020 in London, England.

Jordan Mansfield | Getty Images

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Dow Drops on Report Biden Seeks Higher Capital Gains Tax

Stocks finished sharply lower Thursday following a report that said President Joe Biden would propose a capital-gains tax of more than 40% for the wealthy.

The Dow Jones Industrial Average finished down 321 points, or 0.94%, to 33,815, the S&P 500 dropped 0.92% and the Nasdaq declined 0.94%.

Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6%, and when coupled with a current surtax on investment income, that means federal tax rates for investors could be as high as 43.4%, Bloomberg reported, citing people familiar with the proposal. 

The president’s plan would lift the

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The market will collapse ‘by the end of June’? Really?

Well, the 401(k) “Death Watch,” is underway.

“A huge collapse is coming,” warns longtime market prognosticator Harry Dent. He adds, “This thing will be hell,” it could be “the biggest crash ever,” and the start of “the next big economic downturn.”

When? By the end of June, if not sooner, it seems.

That’s less than 10 weeks away. Oh, well.

Dent’s forecast seems to have struck some kind of chord. For about a week or longer, the article was the most popular article at ThinkAdvisor.com. But although he may be unique in setting a deadline, he’s not the only

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Stocks trade mostly higher, shaking off capital gains tax increase concerns

 

Stocks rose Friday, steadying after selling off sharply on Thursday following a report that President Joe Biden was eyeing a proposal to increase the capital gains tax rate on wealthy individuals. 

The S&P 500 added more than 1% to reach a record intraday high, after the index dropped 0.9% during the regular trading day for its worst session in five weeks. The blue-chip index ended just short of its record closing high. The Dow and Nasdaq also rose to reverse Thursday’s losses following the report, which suggested Biden was considering increasing the capital gains tax rate on those earning more

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