Photo (cc) by Tax Credits
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.