Bidens

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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Wall Street stocks turn lower on reports of Joe Biden’s tax rise

Wall Street stocks turned lower following reports that US president Joe Biden planned to raise capital gains tax for wealthy individuals.

The S&P 500 index gave up morning increases and closed the trading day down 0.9 per cent following a Bloomberg report stating that people earning more than $1m would pay a capital gains rate of 39.6 per cent, up from 20 per cent. The tech-heavy Nasdaq Composite followed the blue-chip benchmark lower, falling 0.9 per cent.

The trading day shaped out to the S&P 500’s worst session in about a month, reversing a markets rally that has prioritised euphoric

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Student loan forgiveness: What Joe Biden’s debt plan looks like today

The gift of student loan debt forgiveness may be on its way.


Sarah Tew/CNET

The total amount of student loan debt in the US is roughly $1.7 trillion and ranks just behind home mortgages in consumer debt. Will President Joe Biden cancel $10,000 of student loan debt? Several members of Congress are urging Biden to go even higher and forgive $50,000 per student. At a Senate hearing on April 13, Sen. Elizabeth Warren compared student loan debt to a time bomb poised to throw millions of families off a financial cliff. 

Provisions like a third stimulus check (and “

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