the S&P 500 advanced just 13.2% since President Joe Biden took office in January 2021. That marks the second-worst performance during a president’s first 1,022 calendar days in office since former President Jimmy Carter, according to CFRA Research.
“We don’t think it’s over,” said Stovall. “There is a good possibility the bottom is not in.”
Goldman Sachs told clients on Monday it’s “very plausible” the Fed tames inflation without triggering a recession.
“The first year was stupendous. And then we gave a lot of it back,” said Sam Stovall, chief investment strategist at CFRA Research.
Biden’s two immediate predecessors sported surging stock markets as they headed into their first midterm election
The S&P 500 climbed 58.5% during the first 1,022 calendar days in office for former President Barack Obama and 36.2% under former President Donald Trump,
Glasp is a social web highlighter that people can highlight and organize quotes and thoughts from the web, and access other like-minded people’s learning.