Given Monday’s holiday for President’s Day, today’s close will mark the end of President Trump’s first month in terms of stock market returns. Based on where the DJIA is currently trading, it was a very good first month. As shown in the table below, the DJIA has gained nearly 4% during President Trump’s first month in office. Somewhat surprisingly, relative to the 19 other Presidents that have assumed office since 1900, the DJIA’s return during Trump’s first month ranks as number six behind Johnson, Coolidge, Taft, FDR, and Bush I. Perhaps the most surprising performance of the Presidents shown is Johnson and Coolidge, who saw gains of 7.11% and 5.69%, respectively. The first month of Johnson’s tenure was the month that followed the assassination of a sitting US President (JFK), while Coolidge’s first month followed the sudden death of another sitting President (Harding). Apparently, the stock market’s ability to shake off shocking political news isn’t just a phenomenon confined to the last 12 months.
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