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.
- 1ECB monetary policy decisions
- 1Crude Oil Falls Most in a Week
- 1Greek 'No' effect on Stocks and Forex market
- 1Jobs Report Disappoints, Participation Rate Falls to Lowest Since 1977
- 1U.S. private sector adds 237,000 jobs in June: ADP
- 4U.S. Index Futures Fall as Consumer Prices Show Inflation Pickup
- 4Euro-Area Bonds Climb as Coeure Says ECB to Expedite Purchases
- 4Bank of England says UK economy to grow by 2.5% in 2015
- 4Oil glut worsens as OPEC market-share battle just beginning: IEA
- 4Retail Sales Little Changed as Americans Reluctant to Splurge
Follow ForexSQ on Social Networks
adp apple asia stocks asian stocks australian dollar bank of england bank of japan bernanke best forex news boe boj bonds canadian dollar china china economy crude oil currencies currency currency news currency trading dollar dollar index dow dow jones draghi ecb economy economy news egypt eur eur/usd euro euro crisis euro zone europe stocks european central bank european stock markets european stocks eurozone eurusd facebook fed federal reserve fomc forex forex news forex trading forex trading news franc fx fx news gbp/usd germany gold gold price google greece grexit imf iphone japan jpmorgan merkel nasdaq nfp obama oil oil price oil prices opec payrolls pound price of oil putin ruble russia s&p 500 spain stock stock futures stock market stocks swiss franc u.s dollar u.s. dollar u.s. economy u.s. stock u.s. stock futures u.s. stocks ukraine unemployment rate us dollar us economy us stocks usd usd/jpy wall street yellen yen yuan
“Yes, Dollar is stable and fix and it is useful for...”
“there is no gold savior anymore...”
“i think us stocks has bubble these days...”
“Federal Reserve want to have more control on banks...”
“actually forex traders know more about ite...”
“i know grexit will destroy euro 1finally...”
“most of forex traders shocked by euro falling...”
“oil prices will fall down more...”
“unexpectedly good nfp news for US dollar...”
“swiss national bank destroyed the forex market by its false decision...”