Guest post by Joe Hoft
The DOW recorded its 56th All time record closing high on Friday since President Trump was elected on November 8th. As a result the market is up 21% since the election. No President has more all time closing highs in their first year in office than President Trump.
* President Trump is already the only President in US history to oversee two stock market rallies of nine days or more where the markets set new highs each and every day.
* On February 28th President Trump matched President Reagan’s 1987 record for most continuous closing high trading days when the DOW reached a new high for its 12th day in a row!
* Then in early August President Trump reigned over a 9 day stock market rally with each day reaching record highs.
* The DOW daily closing stock market average has risen as much as much as 21% since the election on November 8th. (On November 9th the DOW closed at 18,332 – on September 15th the DOW closed at 22,268 – another all time closing high).
* Since the Inauguration on January 20th the DOW is up 12%. (It was at 19,827 at January 20th.)
* The DOW took just 66 days to climb from 19,000 to above 21,000, the fastest 2,000 point run ever. The DOW closed above 19,000 for the first time on November 22nd and closed above 21,000 on March 1st.
* The DOW closed above 20,000 on January 25th and the March 1st rally matched the fastest-ever 1,000 point increase in the DOW at 24 days.
* The DOW increased by 4,000 points in the 200 trading days between November 4th and August 22nd. This was the only time in US history where the DOW rose more than 4,000 points over a 200 working day period.
* The S&P 500 and the NASDAQ have both set new all-time highs during this period.
* The US Stock Market gained $4 trillion in wealth since Trump was elected!
* The S&P 500 also broke $20 Trillion for the first time in its history.
So how does this compare with President Obama’s first few months? The stock markets under President Obama moved in nearly the exact opposite direction in the nine months after President Obama’s election win in November 2008.
* The DOW daily closing stock market average tanked (went down) (-31%) between Obama’s election win on November 4th, 2008 and March 5th, 2009. (On November 4th the DOW closed at 9,625 – on March 5th the DOW closed at 6,594. Overall it decreased more than 3,000 points during this time).
By September 15th 2009 the DOW was back to above 9,000 at 9,683 and barely above the November 4th stock market closing average. During this time period the stock market never reached a new stock market high. As a matter of fact, the Obama stock markets didn’t reach a new all time high during Obama’s entire first term (4 years).