General

Trump earns bragging rights, outdoes all US presidents in past 64 years

US President Donald Trump has taken credit for the stock market’s gains during his nearly two years in the White House, and those claims are reasonable given the impact of tax cuts and pro-business policies on investor sentiment. The S&P 500 has risen 28 per cent since Trump’s election in November 2016 to the eve of congressional midterm elections on Tuesday. This surpasses the market’s performance over the same time frame under any other president in the past 64 years. Under President Dwight Eisenhower, the S&P 500 rose 29 per cent from his election in November 1952 through November 1954. Sweeping corporate tax cuts an initiative driven by Trump, supercharged US companies’ earnings and helped lift the cash-rich technology sector.

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