President Trump likes to use the stock market Opens a New Window. as a report card for his presidency, and he says anyone just looking at its performance while he’s been in office is doing it all wrong.
A better measure, according to the president, would be to look at the stock market’s performance since the day following his election win.
“My Stock Market gains must be judged from the day after the Election, November 9, 2016, where the Market went up big after the win, and because of the win,” Trump tweeted Sunday. “Had my opponent won, CRASH!”
Stocks soared in the wake of Trump’s 2016 election win, with the S&P 500 rallying 20 percent in 2017 as traders looked ahead to the tax cuts and deregulation promises he made on the campaign trail. The surge became known as the "Trump bump."
The S&P 500 has gained 33.1 percent since its close on November 8, 2016. By comparison, the benchmark index has gained 25.8 percent since Trump was sworn into office on January 20, 2017.