Cnn: Millions of Americans are still struggling during the coronavirus pandemic and economic downturn. But look at the stock market, and you wouldn’t know it.
Stock market performance by president, from Reagan to Trump – https://t.co/ztVfqhoqjZ Gee, it looks like the stocks do WELL under #Democrats . So the scare tactics by Trumpers are #Lies. Feel free to share! #BidenHarris2020 #StrongerTogether #VoteBlue https://t.co/AsmR6x2TpA
— Jitter Crow (@JitterCrow) August 12, 2020
The S&P 500 is nearing an all-time high again, after just 122 trading days since its prior peak in February.
Although the stock market is not the best way to measure a presidency — especially during a global pandemic — for President Donald Trump, it marks a speedy comeback for one of his favorite indicators. “Big Stock Market Numbers!” he tweeted on Tuesday. Overall, the S&P 500 is up 47% since his inauguration day.
How does that gain stack up to stock performance at the same point in other modern presidencies? (896 trading days, to be exact).
Stocks were up 74% at this point in Barack Obama’s presidency, about three years into the recovery from the Great Recession. And they were much weaker under George W. Bush, down about 19% as stocks remained low for years after the September 11th attacks and the dot-com boom and bust that occurred in the first year of his presidency.
The Covid-19 pandemic is unlike those other crises in that it started as a global health crisis and led to government-mandated business closures to contain the virus. More than 160,000 people have died in the United States due to coronavirus complications. And as of July, 16 million Americans were unemployed.
Despite the turmoil, the stock market has rebounded since late March. The gap between Wall Street and Main Street has rarely seemed this wide.
Trump loves to brag about the stock market.
Guess what? Clinton and Obama have the best stock market performance.
So what ARE the GOP good at? 🤔 https://t.co/PUFRKzm7Jk
— Bathsheba Dreams in Blue (@Inkling61) August 12, 2020