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Stocks soar 85% in Obama's first term
USA Today
NEW YORK Despite critics that brand him as anti-business and anti-Wall Street, President Obama's first term in the White House has been bullish for stocks.
The Standard & Poor's 500-stock index has risen 85% since Obama was inaugurated on Jan. 20, 2009, says S&P Capital IQ. That stellar return tops first-term gains of Obama's past four predecessors: George. W. Bush, Bill Clinton, George H.W. Bush and Ronald Reagan.
Using the Dow Jones industrial average, Obama ranks third in first-term stock performance of all presidents; Franklin D. Roosevelt is No. 1, says Bespoke Investment Group.
On March 3, 2009, six days before the end of the worst bear market since the Great Depression, Obama urged skittish investors to buy beaten-down U.S. stocks. At a time when fear was high and it seemed like stocks would never stop falling, he said valuations "are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it."
"You have to give him credit for that market call," says Ed Yardeni, president of investment advisory firm Yardeni Research.
Read more: Stocks soar 85% in Obama's first term | Nation/world Business | Detroit Free Press | freep.com|newswell|text|FRONTPAGE|p
USA Today
NEW YORK Despite critics that brand him as anti-business and anti-Wall Street, President Obama's first term in the White House has been bullish for stocks.
The Standard & Poor's 500-stock index has risen 85% since Obama was inaugurated on Jan. 20, 2009, says S&P Capital IQ. That stellar return tops first-term gains of Obama's past four predecessors: George. W. Bush, Bill Clinton, George H.W. Bush and Ronald Reagan.
Using the Dow Jones industrial average, Obama ranks third in first-term stock performance of all presidents; Franklin D. Roosevelt is No. 1, says Bespoke Investment Group.
On March 3, 2009, six days before the end of the worst bear market since the Great Depression, Obama urged skittish investors to buy beaten-down U.S. stocks. At a time when fear was high and it seemed like stocks would never stop falling, he said valuations "are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it."
"You have to give him credit for that market call," says Ed Yardeni, president of investment advisory firm Yardeni Research.
Read more: Stocks soar 85% in Obama's first term | Nation/world Business | Detroit Free Press | freep.com|newswell|text|FRONTPAGE|p
