Following the election, there was no shortage of reporting we were able to offer on the various stock market records broken in anticipation of the Trump presidency, which were fun to highlight given how conventional wisdom predicted a massive selloff in the markets in the event of a Trump victory.British bank Barclays predicted the S&P 500 would lose 11 to 13 percent if Trump won, but would rise two to three percent if Hillary won. Citibank predicted a five percent drop-off under a Trump victory. J.P. Morgan predicted a three percent rise following a Hillary victory, compared to markets “falling further”
They were dead wrong, of course.
Here’s the rundown of all the stock market records Trump has set thus far, courtesy of the Gateway Pundit:
* The DOW Jones Industrial Average (DOW) hit another record new high on Monday! It was the first time that the DOW broke 21,500 in its more than 100 year history!* The DOW daily closing stock market average has risen 17% since the election on November 8th. (On November 9th the DOW closed at 18,332 – yesterday DOW closed at 21,528 for another all time record closing high).
* Since the Inauguration on January 20th the DOW is up 9%. (It was at 19,827 at January 20th.)
* The DOW took just 66 days to climb from 19,000 to above 21,000, the fastest 2,000 point run ever. The DOW closed above 19,000 for the first time on November 22nd and closed above 21,000 on March 1st.
* The DOW closed above 20,000 on January 25th and the March 1st rally matched the fastest-ever 1,000 point increase in the DOW at 24 days.
* On February 28th President Trump matched President Reagan’s 1987 record for most continuous closing high trading days when the DOW reached a new high for its 12th day in a row!
* The S&P 500 and the NASDAQ have both set new all-time highs during this period.
* The US Stock Market gained $2 trillion in wealth since Trump was elected!
* The S&P 500 also broke $20 Trillion for the first time in its history.
Look at a chart of the market, and you don’t need anyone to tell you the day Trump was elected.
While he still has a heck of a lot to do, he’s successfully began making America’s 401(k)s great again.