NEW YORK — The last four years have been good for stocks, with the S&P 500 climbing more than 50% and many 401 balances looking healthier, as President Donald Trump likes to point out so often.
Things eventually switched around, the result of several huge shifts in the market’s momentum, including worries about Trump’s punishing trade war with China, despair about the coronavirus-caused recession and relief that the Federal Reserve once again came to the market’s rescue.The technology sector has been the big winner under Trump, but tech stocks initially lagged behind the S&P 500 after the election.
The initial “Trump trade,” meanwhile, has disintegrated. Washington did cut taxes and lessen regulations as expected, but the economy is now hobbled by the pandemic and the outlook remains cloudy. So, for those experts who predict that a victory by Democratic challenger Joe Biden would be good for solar and other clean-energy stocks, the four years under Trump are a testament to how fortunes can change for companies and whole sectors.Among individual companies, Etsy is the big winner in the S&P 500 since Election Day four years ago, soaring more than 1,100% to nearly $146 per share on Tuesday from less than $12.
Right now the stock market is being kept afloat with cheap capital injections from the Fed. It will crater by over 50% as soon as the Fed turns off the cash. Go long on bonds and cash.
I wouldn't call this soaring.
I think sanity in the White House is a good thing.
OBAMA Markets ending
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