Guest post by Joe Hoft
President Trump’s first year was Historic! Never before has a President done so much for the economy. The stock market is at an all time high, there are more people working than ever before and the nation’s GDP has never been higher. Never before has a first year President done so much for the economy!
President Trump’s first year in office resulted in the greatest year in stock market history! The Dow ended up nearly 5,000 points for the year which was the highest increase in the Dow’s more than 100 year history. The Dow reached all-time new highs a record 71 times in 2017, breaking the record for the most all-time highs in a calendar year set in 1995.
At the final bell for the year the Dow closed near its highest closing amount ever at 24,719. Since last year’s election the Dow is up 35%!
* The Dow increased nearly 6,400 points since the November 8th 2016 election when the Dow closed at 18,333. This is the largest point increase in this amount of time in Dow history. This has never happened in the more than 100 years in the Dow.
* The Dow has increased more in 2017 than any year ever in Dow history! The Dow ended 2016 at 19,763 and has increased nearly 5,000 points. This is the most ever by more than 40% over the next best year ever! (In 2013 the Dow was up 3,472 points.
* Since the election the Dow has surpassed 6 major milestones – 19,000, 20,000, 21,000, 22,000, 23,000 and 24,000.
* President Trump’s stock market rally is historical! No President has seen more all time highs (71) in their first year in office than President Trump. No one has seen more all-time highs in a year ever.
* President Trump set the record earlier this year for the most all time closing stock market highs during his first year in office. By year end the Dow has set 88 closing highs since last year’s election and 71 since President Trump’s inauguration. (As a comparison, President Obama had no stock market highs his entire first term.)
* More than one in four days since the election has ended in a new stock market high.
* 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 that the markets were open or 35 actual days.
* The Dow took just 66 market open 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 2016 and closed above 21,000 on March 1st 2017. The previous record was in 2007 when the Dow took nearly three times as long to cover 2,000 points.
* The Dow took just 173 days to surpass the 3,000 point milestone between November 22, 2016 when the Dow surpassed 19,000 and August 2nd, 2017 when the DOW surpassed 22,000. The prior record was in 1999 when the Dow took more than four times as long to reach these heights.
* The Dow surpassed the 23,000 mark on October 18th. This increase of 4,000 points in all-time highs in this amount of time is unheard of in US history!
* On November 30th the Dow broke the 24,000 barrier for the first time ever!
* Since President Trump’s Inauguration on January 20th the Dow is up 25%. (It was at 19,827 at January 20th.)
* President Trump is 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 S&P 500 and the NASDAQ have both set new all-time highs during this period.
* The US Stock Market has gained more than $5 trillion in wealth since Trump was elected!
* Virtually every major stock index is in record territory.
According to data released in December by the Bureau of Labor Statistics, President Trump added a projected 1.9 million jobs in the first eleven months of the year (January through November 2017) and 2.2 million jobs since last year’s election.
At the end of his 2nd term President Obama said that jobs were not coming back. (Obama lost (4.8 million) jobs in his first eleven months in office.)
According to the Bureau of Labor Statistics, under President Trump more Americans are in the work force than ever before. Over 160 million Americans are working for the first time in US history. President Trump is working hard to bring good paying jobs back to the US and his efforts are showing historic results. ADP reported 40,000 new manufacturing jobs in November. This was the highest reported monthly amount of new manufacturing jobs in the history of their report!
Talk about promises kept…the revival of American manufacturing is staggering. In the ADP report 40,000 new manufacturing jobs were created in November the highest number ever for the report (back to 2002).
Talk about #winning
— Charles V Payne (@cvpayne) December 6, 2017
President Trump stepped into an economy in a quagmire. Obama was the first President since at least 1949 to not have had at least one year of GDP growth greater than 3 percent. President Trump has turned this around. The New York Federal Reserve recently revised its estimated fourth quarter GDP of 2017 up from 3.93 to 4.00 percent. This is estimated to give President Trump an annual GDP rate of 2.9 or better for 2017. According the Bureau of Economic Analysis the US GDP has reached an astounding $19.5 trillion. This is the highest GDP in US history.
In nearly every economic indicator the economy is moving in the right direction. If this continues President Trump will sit over one of the greatest, if not the greatest economic boom in US history.