Warren Gamaliel Harding was the only U. S. President of the last 40 years whose election failed to evoke a courtesy advance from the stockmarket. Reason: in 1920 World War I's prosperity was cracking up. But in 1924 the market greeted the reelection of economic rain maker Calvin Coolidge by rising 1.22 points. In 1928 it roared welcome to Herbert Hoover by rising 3.1 points. In 1932, Wall Street stopped its decline the morning after Franklin Roosevelt's election, giving him an .18-point vote of confidence four months before he closed the banks....
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