Who doesn’t love making money?
Before President Trump ever took office he was a super successful businessman. It shouldn’t be a surprise that the stock market reported record high gains during his time in The White House!
There are some people who will tell you that the market made record gains when Biden took office, but markets almost ALWAYS stabilize when uncertainty becomes certainty.
Basically, it means Biden didn’t cause the market to go up, and I am pretty sure his horrible policies are only going to bring the whole thing crashing down again.
Take a look:
Reuters had more on the story:
Hours after Trump’s unexpected win on Nov. 8, 2016, expectations of massive tax cuts and financial deregulation kicked off a stock rally that saw the S&P 500 .SPX surge 5% in a month. Wall Street continued its path higher through a trade war and impeachment, going on to new record highs following a deep slump caused by the coronavirus pandemic that continues to cripple the global economy.
Despite recent volatility, the stock market has risen strongly during Trump’s term, with the S&P 500 up over 50% since the November 2016 election, more than in the four years following Democrat Barack Obama’s first election win in 2008.
The technology sector has surged over 150% since Nov. 8, 2016, by far the strongest performer during that time, while the energy sector, which Trump has championed, has lost over half of its value. In the four years following Obama’s 2008 win, consumer discretionary led, up 103%, while financials dropped 2%.
As Joe Biden is sworn into office as president of the U.S., it’s time to look back at how the stock market performed during Donald Trump’s presidency.
The good news: The stock market did quite well. The Dow Jones Industrial Average gained 56% during Trump’s presidency, the eighth-best return for any single term of a presidency. It’s also well above the 29.9% average of all four-year terms going back to William McKinley’s first term, which began in 1897. Among Republican presidents, it was the fourth-best gain, lagging behind only Ronald Reagan’s second term—the Dow gained 77%—the 65% gain during Dwight D. Eisenhower’s first term, and the 157% surge during Calvin Coolidge’s second term. Investors finished Trump’s four years a whole lot richer.