Obama was better for your 401(k) than Trump has been via YahooFinance
President Trump knows a lot of voters don’t like him. But detractors should vote for him anyway, Trump says, for one crucial reason: To protect their savings.
The allegation is clear: Democrats are bad for the stock market, so if a Democrat beats Trump in 2020, stocks will tank and every American with a portfolio will lose money. Like many Trumpisms, however, the claim does not survive a comparison with the facts. Trump’s comparison with Obama improves if you measure stock-market gains since each president’s election, rather than Inauguration Day. The S&P 500 is up 35% since Trump’s election in 2016, compared with 13% for Obama’s first term and 47% for Obama’s second term. But Trump’s 35% gain since Election Day still trails the average for Dems since 1968, which is 37%. The average gain since Election Day under Republican presidents is just 18%.
Many investors thought Trump might be different. Stocks rose sharply after his surprise election in 2016, and performed strongly in 2017. But since the beginning of 2018, the S&P 500 has been relatively flat. Trump’s tax cuts and deregulatory policy may have helped stock values, but his protectionist trade policy has countermanded that. And many other factors, including a slowing global economy, have kept a lid on stock prices for the last 18 months.
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