President Obama and the Stock Market

On President Obama's inauguration day, the Dow Jones Industrial Average (the Dow)(DJIA) closed at 7949 and the Nasdaq closed at 1441.

As of this blog post, the DJIA is 13052 and the Nasday is 3017.

That is a gain of 64% and 109%.

To the republicans reading this, you'd say well, the President has nothing to do with the markets or it was all congress to which democrats would respond saying that wasn't what you where saying about Reagan with a democratic congress.

Bottom line is that while some of the markets performance are indeed a reflection on the President of the day, certainly some of the credit or blame has to fall on congress, on the business cycle and ultimately good or bad luck.

Its up to the politicians to decide how to frame the number but the bottom line is the bottom line, under President Obama, the stock market has done exceedlingly well, in fact, the best performance under any one term President in history!

1 comment:

  1. Anonymous9/18/2012

    As an investor, I am happy Obama is in the WH.