Stock market during obama administration
Obama was sworn in amid extreme financial turmoil in January , roughly six weeks before the stock markets hit bottom in the depths of the Great Recession. Pretty much the only direction for stocks to go was up. How far up, though? More important, how do gains under Obama compare with those under other presidents who made it to 2, days?
That can always change, of course. He noted, however, that stocks generally do better under Democrats than Republicans, particularly when stocks start out low.
As of right now, Obama ranks third behind top finisher Bill Clinton and runner-up Franklin Roosevelt in terms of stock gains, according to our calculations. Bush and Richard Nixon. Yes, Nixon barely made it into the club; he resigned 2, days into his presidency amid the Watergate scandal.
There are a few surprises in the data. Pan the economic lens out, though, and the gap closes. Which is within the realm of possibility. Note that the Dow Jones Industrial Average DJIA, For now, the president seems to be basking in that glory. Stovall noted that the pattern follows historic precedent. Markets, however, do better under Republicans when they control the White House and both houses of Congress than Democrats do when in the same catbird seat.
Reagan, Clinton, George W. And for Roosevelt and Truman, it was just the Dow. Starting with a Jan. The dates were different for Roosevelt, who was first sworn in back when Inauguration Day was March 4, and Truman, who assumed power when Roosevelt died shortly into his fourth term in April In that study, Obama would remain in the top three even if stocks were flat for the rest of his term, and he would climb to second behind Clinton if they grew at their current pace.
Feel free to poke holes in that logic. Those dividends were strong enough to keep him there even when you factor in the crippling inflation of the day. Further, our time range is limited. The relatively small sampling of 2,day presidents also may skew the data. A broader look at all 13 chief executives from F.
He said other databases over a longer time frame still would show a slight advantage for Democrats, but the gap is minimal. Yet Democrats seem to generally be doing better than Republicans in the modern era.
While the gains have been meager at times, all seven Democrats have presided over stock gains. Two Republican administrations—that of the scandal-plagued Nixon and the crash-riddled George W.
After Ignoring Obama Scandals For 8 Years, Reporters Are Now Making Them Up About Trump | Stock News & Stock Market Analysis - IBD
Bush—posted the only losses. One thing to note is that No. For Obama, the George W. Bush years laid the groundwork for a big upward swing when a number of banks failed and the markets tumbled late in that presidency.
All three stock indexes more than tripled, while the Nasdaq nearly quadrupled amid the dot-com boom. He theorized that, because Clinton was up against an uncooperative Congress, deficits came down and thus halo effect emerged over the stock market. Republicans aim to put Obama in a similar situation after the midterm elections this fall.
So, when all is said and done, how will stocks have fared under Obama as leaves office in January ?
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Some economists who follow presidents and stock markets theorize that the third year of a four-year term usually is productive for investors, as the government is trying to push through programs that appeal to the public and help boost the economy. And if Drazen is correct, that could be amplified if Republicans seize control of both chambers of Congress.
Peter Cohan, a management consultant and professor at Babson College in Wellesley, Mass. At the height of the dot-com bubble, they were During the housing bubble, ratios had climbed to The Federal Reserve, in fact, is looking to finally raise interest rates after so many down years.
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2, days of Obama: How have stocks done? - MarketWatch
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President Obama stock market performance - Business Insider
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