Does it seem like the stock market has been all over the board this year? That’s because it has. So what’s behind the recent trend of big swings? There are many factors that play a role in the stock market’s ebbs and flows, but this year it seems like the president is having a huge impact.
In fact, analyst Ed Yardeni had this to say regarding President Trump’s market impact: “”We don’t recall a President who has been simultaneously so bullish and bearish for stocks.”
So, while it seems like a contradiction, the fact is, the president has been both a blessing and a curse for investors this year. The first quarter was full of ups and downs as major averages moved into correction territory.
But since then, stocks have bounced back well. The S&P 500 has jumped up 4 percent for the year on the strength of an almost 8 percent jump since the beginning of April. Elsewhere for the year, the Dow industrials have increased by 1.8 percent.
The Tax Cut and Jobs Act has helped boost the stock market, while many of the president’s other opinions and policies have sent socks the other way. But overall, the stock market is doing well under Trump. At his point in his presidency, Trump has the sixth-best Dow performance of all presidents since the turn of the 20th century.