how has the stock market done under biden

Introduction

how has the stock market done under biden is a common question for investors, savers and researchers assessing U.S. equity performance since Jan 20, 2021. This article provides a dated, data-driven review of headline index returns (S&P 500, Dow Jones Industrial Average, Nasdaq Composite), year-by-year phases, the main drivers of market moves, methodological caveats (price vs. total return, start-date choices), and representative source snapshots. Readers will leave with clear, verifiable numbers and guidance on where to find live index data and Bitget products for market exposure.

Note: This article is factual and neutral. It does not provide investment advice. All index figures are date-stamped and sourced.

Overview: headline performance and quick answer

how has the stock market done under biden can be summarized briefly: U.S. major indices produced meaningful cumulative gains from inauguration (Jan 20, 2021) through early 2025, with a deep drawdown in 2022 followed by a strong rebound in 2023–2024. Exact percentage gains depend on the snapshot date and whether dividends are included.

• As of Jan 19, 2025, according to MarketWatch, the S&P 500 was up roughly 54–55% since Jan 20, 2021 (price change measured from inauguration). (As of Jan 19, 2025, according to MarketWatch.)
• Earlier snapshots vary: Morningstar/MarketWatch syndicated reporting on Mar 19, 2024 showed a smaller cumulative gain from inauguration because it captured the 2022 drawdown and an earlier point in the recovery. (As of Mar 19, 2024, according to Morningstar/MarketWatch syndicated reporting.)
• Investing.com and a U.S. Bank summary (Apr 10, 2025 reporting) provided alternate methodology snapshots that show comparable multi‑year gains when using consistent start and end dates. (As of Apr 10, 2025, according to Investing.com.)

how has the stock market done under biden in shorter terms depends on the chosen start point (inauguration, election day, or calendar year) and on whether total return (including dividends) or price return is used. Throughout this article, date stamps and sources are provided for each figure.

Key index returns and measurement notes

how has the stock market done under biden can be expressed via different metrics. Below are representative snapshots and methodological context.

Representative snapshots (date-stamped)

• As of Jan 19, 2025, according to MarketWatch: S&P 500 ~+54–55% since Jan 20, 2021 (price return from inauguration), with the Dow Jones Industrial Average and Nasdaq Composite showing comparable cumulative gains by different magnitudes depending on sector composition. (As of Jan 19, 2025, according to MarketWatch.)

• As of Mar 19, 2024, according to Morningstar/MarketWatch syndicated reporting: the S&P 500 cumulative gain since Jan 20, 2021 was smaller (reflecting the mid‑2022 trough) — reports from this period show the S&P up roughly in the 30–40% range from inauguration depending on exact snapshot. (As of Mar 19, 2024, according to Morningstar/MarketWatch syndicated reporting.)

• As of Apr 10, 2025, according to Investing.com (summarizing U.S. Bank data): alternate calculations and windows produced results that aligned with a strong multi‑year advance for major indices when measured from inauguration to spring 2025. (As of Apr 10, 2025, according to Investing.com.)

These snapshots differ mainly because of the chosen start and end dates and whether dividends are included.

Price return vs. total return

• Price return: measures only index price changes (no dividends). Most media reports use price return.
• Total return: includes reinvested dividends, which can add meaningful long‑term performance (typically 1–2 percentage points per year historically for the S&P 500, though actual contribution varies).

When asking how has the stock market done under biden, clarify whether reported figures include dividends. Where possible, this article notes the measurement used.

Timeline: market phases during the Biden presidency

how has the stock market done under biden is easier to understand when broken into multi-year phases. Below is a neutral, data-focused timeline.

2021 — recovery from the pandemic shock and strong gains

• 2021 saw broad market gains as economic activity recovered and corporate earnings normalized after 2020. Fiscal support measures and accommodative monetary policy remained part of the backdrop. Many major indices reached new highs in 2021.
• Sector mix mattered: reopening-sensitive sectors advanced alongside technology and stay-at-home beneficiaries normalizing after 2020 strength.

2022 — inflation shock and monetary tightening, a calendar-year drawdown

• 2022 was a difficult year for global and U.S. equities, with many indices recording one of the worst calendar-year declines since the 2008 financial crisis. Rising inflation and sharply tighter central-bank policy expectations pressured valuations.
• The 2022 drawdown is an important reason why different snapshots produce different multi‑year totals when answering how has the stock market done under biden.

2023 — recovery, leadership rotation and technology strength

• 2023 brought a strong market rebound led by technology and other growth sectors. Themes such as artificial intelligence and renewed earnings momentum supported the rally.
• For many investors, the 2023 rebound erased a large portion of the 2022 losses and contributed materially to cumulative gains measured through 2024.

2024–early 2025 — continued gains and record highs in many indices

• In 2024 and into early 2025, major U.S. indices hit successive record highs and consolidated gains. Reports around Jan–Apr 2025 show cumulative S&P 500 gains from inauguration approaching or exceeding the mid-50% range in price return terms, depending on source and exact dates. (As of Jan 19, 2025, according to MarketWatch; as of Apr 10, 2025, according to Investing.com.)

Drivers of performance: what moved markets

how has the stock market done under biden is influenced by multiple macro and micro factors. The most influential drivers across the period were monetary policy, fiscal measures, the economic cycle, sector trends and corporate earnings.

Monetary policy and interest rates

• Early in the term, central-bank policy remained accommodative; later, the pace of rate increases and expectations around the terminal rate were the dominant influence on valuations and risk sentiment.
• Investors tended to reprice duration-sensitive assets when rate expectations shifted, amplifying volatility in 2022 and affecting the pace of recovery in subsequent years.

Fiscal policy and government measures

• Fiscal stimulus and targeted government spending influenced demand-supply dynamics in specific sectors. Infrastructure-related investment and sector-specific incentives supported certain industrial and clean-energy-oriented companies.
• Tax and regulatory proposals can affect expectations for future corporate profitability; such policy elements are one of several inputs considered by markets.

Economic cycle and corporate earnings

• The path of GDP, employment, consumer spending and corporate profits provided the fundamental backdrop. Strong earnings recovery in 2021–2024 supported index-level gains once inflationary and rate pressures moderated.

Sector rotation and structural trends

• Technology, especially firms benefiting from AI-related spending and cloud adoption, led parts of the post‑2022 rebound.
• Cyclical sectors reacted to interest-rate expectations and real‑economy demand trends; some sectors that lagged in 2021–2022 outperformed during reopenings.

Comparison with recent presidential terms (methodology matters)

how has the stock market done under biden compared with recent presidents depends heavily on measurement choices. Common comparison approaches include:

• Inauguration-to-inauguration total or price return comparison.
• Election-day-to-election-day comparisons.
• Fixed windows (e.g., first two years, full term).

Different methods produce different rankings. For example, some reports that compare price returns from inauguration to a late‑term snapshot show that returns under Biden rank favorably compared with several recent presidencies; other analyses that use alternate start points find different relative standings. (See reporting from CNN and Investing.com for comparative methodologies and caveats. As of May 2, 2025, according to CNN; as of Apr 10, 2025, according to Investing.com.)

When assessing relative performance, remember that presidents do not control all macro forces; central-bank policy, global cycles, commodity price moves and sector concentration all play major roles.

Sector-level outcomes and investor impact

how has the stock market done under biden can mask large cross-sectional differences. Sector- and investor-type impacts include:

• Technology and growth sectors: notable contributors to the post‑2022 rebound; gains in these sectors often drove index outperformance.
• Cyclicals and industrials: benefited from reopening and infrastructure-related spending in certain periods.
• Retail and retirement investors: broad index gains have raised retirement-plan balances for many participants; the timing of contributions and withdrawals matters for realized outcomes.

Limitations and cautions when attributing market outcomes to a president

how has the stock market done under biden is a question often framed as attribution, but direct causation is difficult to establish. Key limitations:

• Timing and coincidence: a presidency can begin during a recovery, mid-cycle expansion, or contraction—this starting point materially affects measured returns.
• Dominant non-political forces: central-bank policy, global economic cycles, corporate earnings and technological shifts often play larger roles than executive actions alone.
• Data windows and survivorship: changing index composition, sector weights and selection of start/end dates can bias comparisons.

Because of these factors, neutral reporting focuses on measured index outcomes and documented drivers rather than assigning sole credit or blame.

Methodology, sources and notable snapshots

how has the stock market done under biden is best answered with clear date-stamped sources. Representative sources used by market observers include major financial outlets and index-data providers.

• MarketWatch: snapshot reporting on Jan 17–19, 2025 provided a near‑term final look at cumulative index performance through early 2025. (As of Jan 17–19, 2025, according to MarketWatch and MarketWatch Live.)
• CNN: comparative analyses and historical context were published in 2024–2025 for cross-presidency comparisons. (As of Nov 1, 2024 and May 2, 2025, according to CNN.)
• Morningstar / MarketWatch syndicated reporting: provided mid‑term snapshots such as March 2024 that highlight the effect of the 2022 drawdown. (As of Mar 19, 2024, according to Morningstar/MarketWatch syndicated reporting.)
• Investing.com / U.S. Bank: alternate snapshots and methodology notes were published in 2025 and summarized in financial press. (As of Apr 10, 2025, according to Investing.com.)

Representative snapshot example (date-stamped):

• “As of Jan 19, 2025, according to MarketWatch, the S&P 500 was approximately +54–55% since Jan 20, 2021 (price return).” (As of Jan 19, 2025, according to MarketWatch.)

When consulting live numbers, use official index providers (S&P Dow Jones Indices, Dow Jones Market Data) or a reputable terminal. Daily and intraday moves can alter short-window percentage figures.

Frequently asked points and short answers

• Q: how has the stock market done under biden compared to the prior president?

  • A: Results depend on start/end dates; many media comparisons show favorable cumulative gains for the Biden period through early 2025 in price-return terms, but methodology matters. (See CNN and Investing.com comparative pieces; as of May 2, 2025 and Apr 10, 2025.)

• Q: do reported numbers include dividends?

  • A: Most media snapshots report price returns. Total-return figures (including dividends) will be modestly higher over multiyear windows.

• Q: were markets volatile?

  • A: Yes — 2022 was a sharp down year followed by notable recovery in 2023–24; volatility spikes occurred during rate-hike cycles and economic-data surprises.

Practical notes for investors and data users (neutral and factual)

how has the stock market done under biden is relevant to portfolio performance tracking. Practical, neutral considerations:

• Confirm the metric: price vs. total return.
• Confirm the start and end dates for any comparative period.
• Consider sector exposures: headline index moves may be concentrated in a few large-cap names.
• Use date-stamped, reputable data sources for verification.

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See also

• S&P 500 index overview and methodology
• Federal Reserve monetary policy basics
• How to read index total-return vs. price-return data

Sources and date-stamped references

• As of Jan 19, 2025, according to MarketWatch: snapshot reporting of cumulative index performance since Jan 20, 2021 (S&P 500 ~+54–55% price return). (As of Jan 19, 2025, according to MarketWatch.)
• As of Jan 17, 2025, MarketWatch Live provided a final-term look at cumulative returns through mid‑January 2025. (As of Jan 17, 2025, according to MarketWatch Live.)
• As of May 2, 2025, CNN published comparative analysis across recent presidents, summarizing different measurement methods and rankings. (As of May 2, 2025, according to CNN.)
• As of Nov 1, 2024, CNN published reporting showing comparative historical returns and commentary on party-based historical trends. (As of Nov 1, 2024, according to CNN.)
• As of Mar 19, 2024, Morningstar/MarketWatch syndicated reporting provided mid‑term snapshots capturing the 2022 drawdown. (As of Mar 19, 2024, according to Morningstar/MarketWatch syndicated reporting.)
• As of Apr 10, 2025, Investing.com summarized a U.S. Bank report and provided an alternate snapshot/comparison. (As of Apr 10, 2025, according to Investing.com.)

Final notes and next steps

how has the stock market done under biden is a date‑sensitive question. To verify current performance beyond the snapshots cited above, consult live index data from official index providers or reputable market-data outlets. For users exploring market exposure or diversified strategies, Bitget offers wallet and trading solutions; explore Bitget Wallet for custody and Bitget services for accessing digital-asset markets.

Further reading and live-data checks will help maintain accuracy as new economic data and index moves occur.