DUPED AGAIN
So much for having the “best” stock market returns.
During his first two years in office, Donald Trump regularly pointed to the stock market as proof of his leadership’s effectiveness. Experts may have shaken their heads, saying that stock values aren’t an accurate measure of the country’s economic performance. But they are popular with voters, who check their 401(k) investments, and, thus, with politicians. Particularly since “presidents can have a major impact on the financial markets in the short run,” said David Kass, professor of finance at the University of Maryland.
And getting short-term response in stocks is much easier than long-term fundamental economic gains that can take years to bear fruit. If there’s an election coming up, juicing the markets is something both major parties like to do.
When it comes to talking himself up, Trump in particular has compared himself to Barack Obama. So, how do the two presidents measure up in terms of growth in major indexes, measured between their inauguration and May 31 of their third year in office?
The short answer is that Trump has quite a way to go. Under Obama, the S&P 500 grew by 56.4%. The Dow Jones Industrials Average was up 50.6% and the Nasdaq, 92.9%.
The numbers under Trump were 21.4% for the S&P 500, 25.2% for the Dow, and 34.2% for Nasdaq.
Stock Market Did Far Better Under Obama Than Trump: S&P, Nasdaq, Dow Jones | Fortune