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November was the best month since 1987 and December and 2021 look fantastic too.
NEW YORK (Nettavisen): “Trump said the stock market would crash if Biden won. Dow just had its best month since 1987.”
This is how CNN sums up the month of November. They point out that President Donald Trump blackmailed the future stock market if Joe Biden came to power, but point out that the opposite has happened.
– The Dow Jones Industrial just closed over 29,000! You are very lucky to have me as president, President Donald Trump wrote on Twitter on September 2 of this year.
“With Joe Biden, he would have crashed,” Trump continued.
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Between August and October alone, Trump wrote six Twitter messages claiming that the market would crash if Biden were elected president.
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Dow Jones rises 12 percent
But that has not been the case, if you want to sum up the last weeks after the elections.
The industry-heavy Dow Jones index had its best month in November since 1987 with an increase of as much as 12 percent. On Tuesday of last week, it also surpassed 30,000 for the first time in history.
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But the examples are various. The S&P 500 stock index, which is a stock index of 500 large US companies, had its best election week since 1932. Both the S&P 500 and the heavy-tech Nasdaq had their best month since November in April.
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– The opposite happens
Considering that Biden should be bad for the market, you can already see the opposite happening, says Daryl Jones, director of research at Hedgeye Risk Management for CNN.
But CNN also writes that there is no question that Trump’s tax cuts and deregulation have helped speed up the market.
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They also note that Biden now has no intention of introducing any extreme changes that will make the market turbulent. On Monday this week, Biden introduced his new economic team, with incoming Finance Minister Janet Yellen at the piss.
– What Biden is showing us now, from a business and financial point of view, is that it will be moderate, says Jones.
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– World GDP growth of 5.4 percent in 2021
All vaccines that are now up for approval and ready to ship, also means that there is great optimism regarding the market for 2021.
Bank of America economists now predict world GDP growth of 5.4 percent in 2021, the highest since 1973. For the United States, an increase of 4.5 is expected, which is the highest since 1999 .
– One year of vaccination, not virus, one year reopening and not closing, one year of upswing and not of recession, wrote Michael Hartnett, Bank of America chief strategist in a note Monday.
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– Dow Jones may rise more than 35 percent
An analyst at Credit Suisse told CNBC a couple of weeks ago that he expects the broad S&P 500 stock index to rise 12 percent over the next year. As for the Dow Jones Index, analyst Patrick Spencer, who is a chief equity officer at investment bank Baird, is even more optimistic. He anticipates that the Dow Jones may pass the 40,000 mark next year.
“We may be talking about the 40,000 level on the Dow next year, because that index has more to do with value than growth,” Spencer told CNBC a couple of weeks ago.
If the prediction that the 40,000 mark will be broken next year comes true, it means that the Dow Jones will have an increase of almost 35 percent compared to the current level.
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Two stock records on Wall Street
On Wall Street on Tuesday, the first day of December, there was also a rebound and optimism. The Dow Jones started at 200 points and both the S&P 500 and the Nasdaq set new records.
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“Investors have focused on the possibility of us returning to normal social and economic activity based on the widespread deployment of effective vaccines during the first half of 2021,” said Mark Haefele, Chief Information Officer CIO of UBS Global Wealth Management at a note, according to CNBC.
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