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How Trump's stock market ranks in his first 50 days in office

MarketWatch logo MarketWatch 3/10/2017 Mark DeCambre

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Trump is enjoying the Dow Jones Industrial Average’s best performance in the initial 50 days of a presidential term since Bill Clinton’s first term in 1993.

President Donald Trump is half way to marking his first 100 days in office, and as it turns out the so-called Trump rally is stacking up fairy well compared with past presidents during their midpoint to 100. 

The S&P 500 index (SPX)  is on track to post its best return in the first 50 days off a presidential term since Bill Clinton’s first term in 1993, when the broad-market index rose 4.7%. In fact, its the best 50-day Dow performance for a GOP candidate ever and the sixth best performance over that period, based on the data (see table below):

© Provided by Dow Jones & Company, Inc.

The Dow Jones Industrial Average’s (DJIA) roughly 5.3% return over Trump’s past 50 days also lags behind Clinton’s first term, but is the seventh best for any president in the 120-year history of the blue-chip gauge. It’s also the fourth-best return in percentage terms for a first-term president (see chart below). It is worth noting that GOP presidents tend to post 70% gains, according to Dow Jones data.

© Provided by Dow Jones & Company, Inc.

On Friday, stocks were trying to find a clear runway higher after a solid jobs report further solidified expectations that the Federal Reserve will lift benchmark interest rates at the conclusion of its two-day policy meeting March 14-15. Equities have paused somewhat from a record-setting run as investors reassess the so-called Trump rally, inspired by promises of increased spending on infrastructure, reduced taxes and loosened regulations.

Still, the Dow boasts a nearly 14% return since Trump’s Nov. 8 election victory over Democratic rival Hillary Clinton, while the S&P 500 is looking at 10.5% gain over that time. The Nasdaq Composite Index (COMP)  is up 12.7% since early November.

Trump and GOP lawmakers have been engrossed in efforts to repeal and replace President Barack Obama’s signature health-care legislation, which some market participants believe will delay his efforts to roll out his pro-business laws.

Mark DeCambre is MarketWatch's markets editor. He is based in New York. Follow him on Twitter @mdecambre.

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