Comments by "Dominic Pelle" (@dominicpelle7841) on "Fox Business"
channel.
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For instance, Trump’s comparison falters if you look at the Dow’s performance between Inauguration Day and Jan. 5 of a president’s second calendar year in office, rather than Election Day.
Starting with Trump’s inauguration, the Dow has risen from 19,827.3 to 25,075.1 -- an increase of 26 percent. That’s impressive.
*But it’s not as impressive as its performance during the equivalent period under Obama. Under Obama, the Dow increased from 7,949.1 to 10,572 — a rise of 33 percent*
In fact, the Dow’s rise was even more impressive under Obama if you start measuring at the market’s low point, on March 9, 2009, during the depths of the Great Recession. That day, the Dow closed at 6,547. Between then and Jan. 5 — a 10-month period — the Dow rose by a stunning 61 percent. That’s more than three times faster than Trump’s rise over the same period in his term.
It’s also worth noting that Trump is not alone among presidents in presiding over a bull market.
*I know this might come as shock to you.. but Obama's period in office started with having to deal with the Global Financial Crisis ... you know that thingy* So trump took over after the hard yards put in by Obama, inheriting a 4.9^% unemployment figure from him, where as Obama inherited a 9.9% from Bush ..or thereabouts. And of course the markets higher ..as reported above, we've been growing ever since Obama took the reins.. now Trump has them. For how long is a different matter.. and how the market trends we'll know better. But I don't think a trade war is going to help.. certainly doesn't look that way at the moment.
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