The stock market loves President Barack Obama. With all its cheating heart, and all its mercenary soul.
More than that, actually â€” it adores him. The love story of Wall Street and Obama is a bromance like no other, a man-crush for the ages.
Despite his threats to soak the wealthy for more taxes, despite Fed Chairmanâ€™s attack on savers, despite even his threat to kill special treatment for dividends, institutional investors have thrown themselves at Obamaâ€™s feet as they have not done in the first term of any president in the past century.
You could look it up. The S&P 500 has gained 76% since his inauguration in January 2009, while the Nasdaq 100 is up 128%.
Compare that to the S&P 500â€™s 13% decline and the Nasdaq 100â€™s 45% wipeout in the first term of his predecessor, George W. Bush; or the mere 25% gain in the first term of conservative icon Ronald Reagan; or even the 60% gain in the halcyon early 1990s in the first term of Bill Clinton.
The staggering advance of the market is probably one of Obamaâ€™s greatest accomplishments, and yet, in a rich irony, political sensitivities prevent him from bragging about it.
- 2Chicago PMI drops sharply in July
- 2U.S. Could Move to Sanction Russia Derivatives, Short-Term Funds
- 2U.S. Stocks Slide as Exxon, Whole Foods Fall on Results
- 2U.S. jobless claims up, wage growth starting to push higher | Top Forex Brokers
- 2Jobless Claims in U.S. in Past Month Drop to Eight-Year Low
- 3Stock market live blog: Dow erases gain, but S&P still up; Fed statement fears get the blame
- 2Economy in U.S. Grows More Than Forecast
- 2Treasuries Drop, Metals Rise After GDP; Stocks Pare Gains
- 2Dollar Rises to 4-Month High as U.S. GDP Tops Forecasts
- 2ADP Says Companies in U.S. Boosted Payrolls by 218,000
Become Our Fan
apple asia stocks asian stocks australian dollar bernanke boj china dollar ecb economy eur eur/usd euro euro zone europe stocks european central bank european stocks eurozone eurusd facebook fed federal reserve forex forex news forex trading fx gbp/usd gold google greece imf japan obama oil pound spain stock stock market stocks swiss franc u.s dollar u.s. dollar u.s. economy u.s. stock u.s. stock futures u.s. stocks us dollar usd wall street yen