Guest post by Joe Hoft
In the four months since the Presidential election on November 8th, the US stock market has risen in historic proportions. In the four months after President Obama was elected President in 2008 it was a much different story.
On November 8th, 2016, the day of the Presidential election, the DOW closed at 18,333. At that time the DOW had not had a new high in nearly 3 months since August 15th. Since then the DOW has exploded as expectations for economic recovery from Trump policies mount. The DOW closed on March 8th, 2017 at 20,856 for an increase of 2,523 or 14% since the election.
Since the 2016 Presidential election the DOW has reached 32 new All Time highs and tied the DOW record for the most days in a row with All Time Highs at 12 days from February 9th through 27th. The Trump Bull Market is Historical in many ways.
The market’s response after President Obama was elected in 2008 was the exact opposite. The economy was is rough shape and the inexperienced new President offered ‘hope and change’ and economic growth killing policies. As a result, the DOW closed at 9,625 on November 4th, 2008, the day President Obama was elected and fell 2,749 points over the next four months to a daily close of 6,876 on March 4th, 2009 for a decrease of 29% .
In summary, the DOW increased by 14% in President Trump’s first four months after being elected due to expectations for a more prosperous future while the DOW decreased by (29% ) in the four months following Democrat Obama’s election. The net difference in the DOW between these two Presidents is 43% .
Obama offered ‘Hope and Change’ but it was the change America didn’t want.