January 19th, 2009
04:29 PM ET
13 years ago

Wall Street's inauguration rally

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/images/01/19/art.nyse.gi.jpg caption="How long will Wall Street's post-inaugural celebration last?"]NEW YORK (CNNMoney.com) - Optimism about Barack Obama's first 100 days as president is running high, but Wall Street's post-inaugural celebration may well be short-lived.

"I think there's going to be something of an Obama honeymoon for a few weeks," said Terry L. Morris, senior equity manager at National Penn Investor Trust. "But I think there's still a lot of pessimism out there about the economy."

Since 1932, stocks, as measured by the S&P 500, have gained an average of 1.6 percent in the first 100 days of a new president's term regardless of the party.

The S&P 500 has gained 0.9 percent on average under a Republican president and 2.2 percent under a Democrat like Obama, according to research by Standard & Poor's chief investment strategist Sam Stovall.

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Filed under: Inauguration