Trump best GOP president for the Dow in first year
DEK: Trump’s anniversary of his first year in office is quickly approaching, and it is already setting up to be one for the record books.
President Donald Trump’s anniversary is quickly approaching. The official date is Jan. 20, 2018, when Trump will have been in office for one year, and quite a year it has been.
As of Wednesday morning, the Dow Jones Industrial Average had gained 28.4% since Trump took office, making it the best first year in office for a Republican president on record, according to data from The Wall Street Journal Markets Group. It is also the third-best percentage gain for the Dow for any president. The average performance for the Dow in the first year of a presidency is a 7.7% gain.
All the major stock indexes posted aggressive gains in 2017, and so far they have extended these gains into 2018. As previously reported by FOX Business, the Dow ended the first five trading days of 2018 up over 2%. According to data from The Wall Street Journal Markets Group, when the Dow has ended the first five days of the year with a gain greater than 2%, it averages a yearly gain of 15.27%.
Tax reform and hopes of deregulation were major factors behind the market’s rally in 2017 and are expected to continue to support gains in 2018. Furthermore, an infrastructure spending program could add extra impetus to the rally.