The 30-stock index has surged more than 31 percent since Trump’s inauguration.
That marks the index’s best performance during the first year of a president since Franklin Roosevelt.
“You’ve got lower taxes, less regulation and confidence in the economy is high,” said one investor.
The S&P 500 has surged 23 percent during Trump’s first year in office.
Donald Trump lifted the Dow Jones industrial average in his first year in office more than any other president since Franklin Roosevelt.
The Dow has surged more than 31 percent since Trump’s inauguration on Jan. 20, 2017. That marks the index’s best performance during a president’s first year since Roosevelt. The Dow skyrocketed 96.5 percent during Roosevelt’s first year in office.
(Returns measured from the day before the inauguration.)
The stock market has added $6.9 trillion in market cap since Donald Trump was elected president.
That is already nearly half of what the market grew by in all eight years of the Obama administration.
Trump’s performance, as measured by the S&P 500, is up 23 percent in the year since his inauguration, much better than the 13 percent average of first-year performances since 1928.
The U.S. stock market has added nearly $6.9 trillion in market cap since President Donald Trump was elected, already close to half of what was added in all eight years of President Barack Obama‘s tenure.
The market cap, based on the Russell 3000, surpassed $30 trillion for the first time last week and was at $30.6 trillion Thursday, according to Bespoke.
“I think the performance in the first year has exceeded almost everybody’s expectations,” said Paul Hickey, co-founder of Bespoke. Hickey uses the Russell 3000 to measure overall market cap, since it represents about 98 percent of all U.S. stocks.
When Trump was elected, stocks rose out of the gate after an initial late-night collapse in futures prices. After that, the market rewarded stocks and sectors that would benefit from the “Trump trade” and Trump’s pro-growth policies.
The Trump trade occasionally stalled out when it looked as though tax reform was unlikely, but since the legislation began seriously moving forward and finally became law at the end of last year, the market has been on a tear. The S&P 500 has added 4.6 percent just since the start of this year, after last year’s near 20 percent move.
DONALD Trump will become the first US president to address an anti-abortion march in 45 years on Friday.
The move highlights his shift in recent years from a supporter of women’s access to abortion to, now, a powerful opponent.