Through yesterday's close, the S&P 500's average daily performance during the second Trump administration has been a decline of 0.8%. The magnitude of the declines hasn't been spread out evenly across each of those days.  The chart below shows the S&P 500's daily performance on every trading day since the inauguration, and we have also highlighted Mondays and Fridays in red. The days surrounding the weekend have been notably weak. Of the nine Friday and Monday sessions since 1/21, the S&P 500 has traded lower eight times for a median decline of 0.5%. These are some pretty weak numbers, but in the early days of this administration, we have seen no shortage of Friday afternoon and weekend headlines that the market has been forced to adjust to.

It's still extremely early in this administration, so the extreme weakness of the market on Fridays and Mondays could easily shift, but we found it interesting how much these numbers differ from average weekday performance under President Biden. During his four years in office, Friday and Monday were easily the best days of the trading week, with average gains of 9.8 bps and 8.5 bps, respectively. Just like in life, for the markets, no news is sometimes good news, and unlike the first few weeks of the second Trump Administration, weekends during the Biden Administration tended to be quiet from Friday afternoons through early Monday.

More By This Author:

Don't Sleep On Dividends
Claims In The Capital
Stock Market: Time Heals