On the first day of trading in the new year, stocks rose in afternoon trading on Wall Street Monday in a solid start to the new year after closing out 2021 with big gains including a 27% increase for the S&P 500. https://twitter.com/axios/status/1478009822402551809 While the stock market is not the end all/be all in terms of measuring the economy, it is one economic indicator – one that Donald Trump repeatedly pointed to as a sign of how he was doing in office. So I guess – using Trump’s logic – this means President Biden is doing pretty well? From CNBC:
The major averages posted double-digit returns this year, as the global economy began its recovery from the 2020 Covid lockdowns, while the Federal Reserve maintained supportive measures first implemented at the onset of the pandemic.
The S&P 500 rose 26.89% in 2021, marking the benchmark’s third straight positive year. The Dow and Nasdaq also notched three-year winning streaks, gaining 18.73% and 21.39% for the year, respectively.
Additionally, the U.S. unemployment rate fell to 4.2 percent (a 21-month low) while new jobless claims fell to their lowest level since 1969. https://twitter.com/Newsweek/status/1476943207141412897
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