Donald Trump and the soaring stock market
The growth in the stock market under Donald Trump has been much in the news. Some perspective is in order.
The Jan. 19 Wall Street Journal compares the growth in the S&P 500 in the first year of a president’s term. From highest to lowest, presidents having positive growth in the first year of a term are FDR (1931), FDR (1945), Barack Obama (2009), Bill Clinton (1997), Barack Obama (2013), Mr. Trump (2017), Ronald Reagan (1985), George H.W. Bush (1989), Harry Truman (1949), JFK (1961), Mr. Clinton (1993), LBJ (1965) and George W. Bush (2005). Mr. Trump is sixth on the list, below the first year of both of Mr. Obama’s terms.
Looking at only those presidents who served two terms, one can see that — unlike under Mr. Clinton and Mr. Obama — the S&P 500 never showed a growth the first year of both terms for a Republican.