The Record Biden Just Broke That Would Make Trump Jealous

For lack of better words, taking credit for rises in the stock market was President Donald Trump's thing. In October 2020, Reuters noted that President Trump had tweeted over 150 times about the stock market, "often when stocks were climbing." And stocks climbed. They climbed, incredibly, even through Trump's impeachment trial. "You are so lucky to have me as your President," tweeted Trump once, as the Dow Jones closed above 29,000 (via Market Watch).

But today, January 20, 2021, Donald Trump is neither on Twitter, nor is he the president. He's off to Mar-a-Lago, despite rumors that his neighbors don't want him there. Former first lady, Melania Trump, has already donned a $3,700-plus Gucci vacation outfit that caught the eye of The Daily Mail. As for the stock market? Despite the end of Trump's four-year term, it's still chugging. More than chugging, it's thriving. And that, as much as Trump might hate to admit (will never admit) it, is thanks to the United States' new president, Joe Biden. 

As per the New York Post's reporting, U.S. stock markets closed on President Biden's inauguration recording record highs. "This is the best inauguration day return since Reagan's second term," Ryan Detrick, Chief Market Strategist for LPL Financial, told the newspaper. The Dow climbed 0.8 percent, the Nasdaq climbed 2 percent, and the S&P 500 index climbed 1.4 percent. The highs may be taking Wall Street by surprise. When CNBC talked to over 100 investors in late December 2020, they predicted that Biden's term would hurt stocks. But Ross Mayfield, investment strategy analyst at Baird, doesn't have a hard time understanding the surge. He credited Biden's "trillion-plus" stimulus package for the rise.

Meanwhile, President Biden is busy breaking another record that might make Donald Trump jealous. He's signing executive orders. AP reports that Biden signed 15 executive actions and two directives in an attempt to "rewind" Trump's presidency. You'll remember that during his term, Trump became famous for signing executive orders. But on day one, per NBC, he signed just one.