President Obama has only completed just 4 years and nearly 5 months in office and may have already accomplished more for Wall Street than any other President did in their completed 2 terms
Barack Obama is the 5th President to see the S&P 500 double while in office
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Floyd Norris
The New York Times
In the 84 years that the Standard & Poor’s 500-stock index has been calculated, it doubled during the terms of only four presidents before Barack Obama’s election in 2008. This month that number rose to five as the index climbed to more than twice what it was when he took office.
Through Friday, more than 52 months after he took office, the index was up 105 percent during his term in office, for a compound annual gain of 18 percent.
The Wall Street performance has not made Mr. Obama particularly popular among financiers. Indeed, some of the language about the president’s perceived support of socialism and hostility to capitalism during last year’s campaign was the harshest seen in any campaign since 1936, when Franklin D. Roosevelt was seeking a second term and was strongly opposed by many financiers.
By the time Mr. Roosevelt died in 1945, the S.& P. 500 was 141 percent higher than it had been when he took office. But he was in office so long that the annual rate of gain was only 7.5 percent, less than half of the rate so far for the Obama administration. (FDR was in office from March 4, 1933 – April 12, 1945)
The other presidents whose term in office included a doubling in the S.& P. were Dwight D. Eisenhower, Ronald Reagan and Bill Clinton. Each served two full terms, and none came close to the average annual gain so far under Mr. Obama.
Mr. Clinton’s 15.2 percent was the highest of that group. He had the good fortune to enter office when markets were relatively low and to leave just as the technology stock bubble was starting to collapse.
There is, of course, no guarantee that a market that rises will endure. Mr. Roosevelt’s record would be better if he had left after one term in office; the market was lower when he died in 1945 than it had been when he took the oath of office in 1937 for his second term.
And the president with the best stock market record in the 20th century — using the Dow Jones industrial average, whose history is longer than that of the S.& P. — is Calvin Coolidge. The Dow rose 256 percent — an annual rate of 25.5 percent — from his inauguration in 1923 until he left office in early 1929. The market went up an additional 20 percent before the crash. But by the end of 1931 all of the Coolidge gains had been lost.
http://www.nytimes.com/2013/05/25/business/economy/sp-has-more-than-doubled-under-obama.html?_r=0
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Corporate profits soared 171 percent during Obama’s first term, more than any other president since World War II- President
Bloomberg
U.S. corporations’ after-tax profits have grown by 171 percent under Obama, more than under any president since World War II, and in January 2013 were at their highest level relative to the size of the economy since the government began keeping records in 1947, according to data compiled by Bloomberg.
Profits are more than twice as high as their peak during President Ronald Reagan’s administration and more than 50 percent greater than during the late-1990s Internet boom, measured by the size of the economy.
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The Dow Jones industrial average hit a new milestone Tuesday, May 7, 2013, closing above the 15,000 mark for the first time in its 117-year history.
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NASDAQ hits 12 year high
The Nasdaq Composite Index, dominated by corporate names such as Apple (AAPL), Google (GOOG), Microsoft, Intel (INTC) and Cisco (CSCO), reached its highest point in a dozen years on Tuesday, May 7, 2013 -it closed at 3,224.13.
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A strong Wall Street does not mean a strong Main Street
African Americans still impacted greatly by the Great Recession that began during the George W. Bush administration
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A photo of Africans Americans during the Great Depression
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