30,000
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Wall Street Journal
The authors credit the presidents
U.S. stocks surged Tuesday, with the Dow Jones Industrial Average crossing 30000 for the first time, after President Trump said his aides would cooperate with President-elect Joe Biden’s transition to the White House.
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Wall Street Journal
The authors credit the presidents
U.S. stocks surged Tuesday, with the Dow Jones Industrial Average crossing 30000 for the first time, after President Trump said his aides would cooperate with President-elect Joe Biden’s transition to the White House.
Wall Street Journal
The authors credit the presidents
U.S. stocks surged Tuesday, with the Dow Jones Industrial Average crossing 30000 for the first time, after President Trump said his aides would cooperate with President-elect Joe Biden’s transition to the White House.
No - they said one thing happened after another.
Determining causation in the market is a tall order.
But sure, there’s plenty of short term fluctuations that the Pres can cause and some long term.
I’m not saying the President has no effect. (Gosh I don’t want to start this again)
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Wall Street Journal
The authors credit the presidents
U.S. stocks surged Tuesday, with the Dow Jones Industrial Average crossing 30000 for the first time, after President Trump said his aides would cooperate with President-elect Joe Biden’s transition to the White House.
No - they said one thing happened after another.
Determining causation in the market is a tall order.
But sure, there’s plenty of short term fluctuations that the Pres can cause and some long term.
I’m not saying the President has no effect. (Gosh I don’t want to start this again)
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I have a vague recollection of reading somewhere that the stock market doesn't like chaos. (Which might explain a favorable performance on the Biden win.)
Anyway, looking for something to substantiate my vague memory, I found this at Forbes: "In general, election day results versus long-term results have not correlated well — and seem to be more connected to the idea of political stability versus the actual policy stances of a candidate.
"Despite the fact that Republicans are generally associated with pro-market policies, Ed Clissold, Chief US Strategist for Ned Davis research explained, “The markets tend to go up whether there is a Democrat or a Republican in the White House. When adjusted for inflation, the Dow Jones Industrial Average has gained an average of 3.8% annually under Democrats since 1900, versus 1.1% under Republicans.”
For whatever that's worth.
I have a vague recollection of reading somewhere that the stock market doesn't like chaos.
Exactly!!!! That is something that i have been saying for a long time. @Horace and I discussed this a lot on the other forum board.
Knowing (or at least having a somewhat good idea that things will be the same a year (2 years, 3 years, etc.) from now is most important for companies. They can adapt.
I use the story of having had a discussion with the head of a global Fortune 100 company (PTT), and the effect oil prices can have on their business. He told me that it was not so much the USD amount of oil, but more important was if the price would be steady and they could plan for that. Price either high or low was not as important. (Obviously had an effect but not most important factor)
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I like how we’re coming to the consensus that the President is just a small driver.
Other things move the market. Like Americans (and sometimes global events).
