MarketWatch declares, “The stock market loves President Barack Obama. With all its cheating heart, and all its mercenary soul.” Don’t believe it?
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 500’s 13% decline and the Nasdaq 100’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 Obama’s greatest accomplishments, and yet, in a rich irony, political sensitivities prevent him from bragging about it.
The article goes on to detail which stocks have been performing well under Obama – and some might surprise even Obama supporters. Drug and insurance companies? Construction? Things could change and it’s all dependent on your tolerance for risk, but the analysis is worth a look.