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How Markets Are Moving With Biden as President, From Green to Defense Stocks Bloomberg 1/21/2021 Markets are loving Joe Biden’s turn as America’s president. The S&P 500 Index on Wednesday posted its best first-day reaction to a presidential inauguration since at least 1937 with a 1.4% jump on prospects of an around $2 trillion in stimulus spending. Global stocks, meanwhile, hit fresh all-time highs. Biden’s formal transition into the White House has cemented investors’ faith in companies allied to his policies, while those that don’t meet his priorities are losing out. Stocks tied to clean energy rose, continuing gains they have made since Biden won the election. Defense equipment makers and prison operators sectors that did well under Donald Trump dropped. ....