President Donald Trump campaigned on a platform that placed economic revitalization at its core, and as his administration marks its 100th day in office, Trump can boast a remarkable accomplishment: the Dow Jones Industrial Average has posted its best performance for a first-term president since World War II.
Since Election Day, when Trump triumphed over Democratic rival Hillary Clinton in a landslide victory that many perceived as impossible, the Dow has rallied a whopping 14.22 percent. Much of its stellar performance has been attributed to Trump’s business-friendly policies when it comes to tax cuts, deregulation, and increased infrastructure spending.
The result places Trump in first place among first-term presidents since World War II. Of all postwar presidents, Trump ranks second just behind former President Bill Clinton, who oversaw a Dow rally of 14.48 percent in the 100 days following his 1996 election victory. And as for first-term presidents overall, Trump ranks fourth, behind Franklin Delano Roosevelt, Calvin Coolidge, and Herbert Hoover.
Meanwhile, the S&P 500 has risen about 5 percent in what has been endearingly termed the “Trump Bump.” Barack Obama oversaw a relatively tepid 2.8 percent gain, George W. Bush a 7.3 percent slide, Bill Clinton a 0.9 percent rise, and Ronald Reagan a 1 percent fall.
His impressive impact on the stock market has given Trump a key victory to point to at a time when many items on his administration’s agenda have been blocked by obstructionist Democrats in Congress and activist judges throughout the country.
A tax proposal released by the Trump administration also bodes well for the stock market thanks to provisions that would restore sanity to American corporate taxes, long considered the primary reasons for U.S.-grown business to move overseas and funnel their tax dollars elsewhere.