Fox News Host Praises Democrats’ Impact on Stock Market

Fox News host Stuart Varney recently acknowledged how well the stock market performs while Democrats are in office.

Speaking on Fox & Friends on Friday, the veteran financial commentator said that middle America was feeling the benefits of a stronger stock market under President Joe Biden, and several years of solid growth.

Varney said: “Frequently, Democrats have been good for the stock market. Historically, they haven’t been that bad.

“Look what we’ve just had. We’ve had three and a half years of Biden in the White House, and we’ve had a stock market that’s gone straight up, largely straight up, since the pandemic panic. It’s now gone up to almost record highs in the stock market.

“One hundred and sixty million Americans have a direct input into the stock market. They own stocks, directly or indirectly, they have a piece of the action. They are wealthier today, because of the stock market, than they were four or five years ago.”

The stock market has consistently been a reliable indicator of how elections will go in previous years. Since 1928, the incumbent has stayed in control of the White House in 12 out of the 15 elections when the S&P 500 was positive during the three months leading up to an election.

At the same time, the incumbent party lost the election eight out of the last nine times when the market dropped in the three months before an election.

Allan Lichtman, a presidential historian described as the ‘Nostradamus’ of U.S. Polling, lists short-term and long-term economic successes as two of his thirteen “keys to the White House”, and uses the stock market to judge if they are on the side of the incumbent party.

Currently, Lichtman considers both economic keys to be working in Vice President Kamala Harris’ favor, as the stock market has been stable under President Joe Biden.

However, critics say that the technical statistics of the stock market are not being felt in the everyday lives of voters, with Fox & Friends host Lawrence Jones asking Varney: “But we’re not feeling it at home, are we?”

Last week, former President Donald Trump said that he was “unsure” if the economy would be the most significant issue influencing voters this election.

At a rally in North Carolina, the Republican nominee said: “They say it’s the most important subject; I’m not sure it is, but they say it’s the most important. Inflation is the most important, but that’s part of the economy.”

“A lot of people are very devastated by what’s happened with inflation and all of the other things. It’s very important. They say it’s the most important subject. I think crime is right there, I think the border is right there, personally. We have a lot of important subjects because our country has become a third-world nation.”

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