Biden’s Stock Market: Record Lows
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Biden’s Stock Market: Record Lows
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With reckless spending and global crises, our economy is in dire straights. Let’s pray that God would restore all that has been lost.
From CNN. The stock market started the Biden era with a boom. But it heads into the midterm election looking more like a bust.
Who is praying on the wall?
Entering Monday, 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.
The struggles in the market are largely linked to high inflation, which has caused the Federal Reserve to launch a barrage of punishing interest rate hikes.
Out of the 13 presidents since 1953, Biden ranks ninth in terms of stock market performance through this point in office, besting only former Presidents George W. Bush (-21.6%), Carter (-2.6%), Richard Nixon (-7.2%) and Lyndon Johnson (+9.6%), according to CFRA.
By contrast, 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, according to CFRA. …
Worst year for stocks since 2008
Slammed by the Fed’s all-out war on inflation, the S&P 500 is down 20% this year, on track for its worst year since 2008.
The underperformance of the stock market under Biden matters because many Americans have exposure to stocks, either directly or indirectly in their 401(k) and pension plans. This year’s selloff has wiped out trillions of dollars from nest eggs, 401(k) plans and college savings plans.
The market turmoil is also denting consumer confidence. A CNN poll found that 75% of likely voters feel the economy is in recession. …
“We don’t think it’s over,” said Stovall. “There is a good possibility the bottom is not in.” …
How are you praying for the stock market? Share this article to encourage others to pray.
(Excerpt from CNN. Photo Credit: Getty Images)
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Father, In Jesus’ Name protect investors and their investments. Prevent bad policy, and bad choices by those in power to be enacted, and further hurt the nest eggs and retirement monies that so many in America have worked hard for to attain. Father, “the cattle on a thousand hills are yours”. Everything is YOURS. Father, I pray Your will be done in managing stocks, pension plans, interest rates. I rebuke powers of darkness in Jesus’ Name causing fear because of diminishing returns in the market. Lord, prevent further recession in the economy. Guide and direct leadership
to do Your perfect will. Have mercy on us, Lord. Amen
Thank you Lord God Almighty.. Thank you IFA for all that you do and this platform to pray.. I decree that America shall be saved and I will never stop praying for America and I plead the blood of Jesus over America…🧎🔥♥️💥🇺🇸