The Stock Market Performed Far-Better Under President Obama Than Trump
The S&P 500 grew 37 percentile points more under Obama’s first three years than under the equivalent time during Trump’s term, according to a tweet by Washington Post Columnist Catherine Rampell.
The index, which tracks the largest 500 public companies in the country, climbed 58.24 percent under between February of 2009 and May of 2011, but only 21.57 percent between February 2017, and May of 2019.
“Presidents don't control stock markets, the market is not the economy, etc. Still, once upon a time, Trump used to brag that market gains were a good metric of his success,” according to Rampell.
It is important to note, however, that Obama’s first term coincided with the country's recovery from its worst financial crisis since the great depression. The S&P 500 fell 48 percent (from May 2007) to a record low of 770 points in February of 2009, when Rampell’s calculation begins.
Abnormally low valuations in that period may account for a substantial portion of Obama’s subsequent success of the stock market, which reached pre-crisis levels in 2013 -- a year into his second term.