- The Wall Street Journal – Stock Market Roared During Donald Trump’s First Year, Boosted by Earnings and Tax Cut
U.S. stock markets soared to records during President Donald Trump’s first year in office, benefiting from a mix of pro-business policies, steady corporate earnings and a rebound in global economic growth. The S&P 500 index has climbed 23% since Mr. Trump entered the White House, the best performance for the index during a Republican president’s first year in office. Only first-year stock-market gains under presidents Franklin D. Roosevelt and Barack Obama exceeded those under Mr. Trump’s maiden year in office. (Stock-market gains during the first year of Bill Clinton’s second term also exceeded those during Mr. Trump’s first year.)
Comment
While stocks have roared ahead due to regulation cuts and pro-business policies, note that there is absolutely no relationship between Trump’s approval rating and stock gains.
This chart argues that the theatrics in Washington are shaping people’s opinions of Trump more so than his policies. Not even a rising stock market has helped him much.
