Friday, January 19, 2018

The Dow's 31% gain during Trump's first year is the best since FDR

cnbc
January 19, 2018


President Donald Trump speaks prior to signing a Presidential Proclamation shrinking Bears Ears and Grand Staircase-Escalante national monuments at the Utah State Capitol in Salt Lake City, Utah, December 4, 2017.
Donald Trump lifted the Dow Jones industrial average in his first year in office more than any other president since Franklin Roosevelt.
The Dow has surged more than 31 percent since Trump's inauguration on Jan. 20, 2017. That marks the index's best performance during a president's first year since Roosevelt. The Dow skyrocketed 96.5 percent during Roosevelt's first year in office.
(Returns measured from the day before the inauguration.)
"This is all about policy," said Bruce Bittles, chief investment strategist at Baird. "You've got lower taxes, less regulation and confidence in the economy is high. Things are firing on all cylinders."
Trump quickly moved to cut regulations enacted by previous administrations. He also successfully pushed to overhaul the U.S. tax code. That revamp included slashing the corporate tax rate to 21 percent from 35 percent.
The president made it to the White House saying he would "put America first." Since taking office, Trump has pushed to have companies bring back jobs to the U.S. and has said repeatedly said his policies would help to accomplish this.

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