4/10/2023 0 Comments Jstock market under obama foxnews![]() ![]() They are now, in all seriousness, proposing that what we are seeing here are the effects of the Bush recovery. ![]() They hit on the notion of a bear market rally, which they then turned into a persistent talking point.Īnd capping off the Fox News campaign to deny Obama any credit for the still advancing market, having now risen about 40% in seven months, Fox has raised the stakes and brought in their “A” game. I mean, nothing positive could possibly be attributed to this president, so there must be another explanation. This led Fox News to seek a new excuse for good fortune that was clearly driving them nuts. In April the market continued its winning ways. The bulls came out about the same time these guys started to shout.” Wall Street’s sure partying, up six weeks in a row. Undaunted, Fox came up with a unique explanation for why Wall Street would suddenly seem to be reacting positively to a Muslim, communist, alien president. It would rise 21% in 16 days – a feat that has not been recorded in modern stock market history Unfortunately for Fox, later the same month the market began what would become an unprecedented turnaround. Last March, Fox News was the first to report that a declining Dow was unambiguously the fault of Obama, who had been in office for a little more than a month.įox declared the declines “Obama’s Bear Market.” They illustrated their coverage with colorful charts highlighting the foreboding financial trends that were about to sink all future hopes of America. Passing the 10,000 mark would ordinarily be perceived as good news by most market analysts and millions of investors, many of whom are relying on market performance for their future security and retirement.īut Fox News, the network that celebrates America losing the Olympics, and laments the President being honored with a Nobel Peace Prize, sees things differently. Wall St.After months of turmoil, the stock market has clawed its way back to levels that haven’t been seen for a year. On the other hand, $1,000 invested the same way in 1973, the year the next Republican, Richard Nixon, was inaugurated, would only have been worth $2,716 on the day George W. Kennedy was inaugurated as president, and kept in stocks only when Democrats occupied the White House, would be worth $7,550 today. And an examination earlier this year by Bloomberg showed that a hypothetical investment of $1,000 in Dow Jones stocks in 1961, the year John F. A study published at demonstrated that between 18 the Dow went up 7,863 points under Democratic presidents, but only 1,032 points under Republicans. The streak was the longest since the 94-day one that occurred during the Bush administration, from July through November 2006.Īctually, it is an American tradition for the stock market to do better with a Democrat in the White House than with a Republican. But facts are facts.”īespoke noted on its website that the Dow recently concluded 81 straight days without a 1%+ decline. With Wall Street so despised by the average American right now, it’s probably something he doesn’t want to be too quick to trumpet. “While the stock market isn’t a complete reflection of the economy, it is an important indicator, and the stock market is one of the great things the president has working in his favor. Hickey, cofounder of Bespoke Investment Group, told the newspaper. “What I find most ironic about these numbers is that one of Obama’s weaknesses is said to be his economic record,” Paul T. Jeff Sommer of The New York Times characterized the increase as “an extremely strong performance-the fifth best for an equivalent period among all American presidents since 1900.” Since Obama was inaugurated in January 2009, the Dow Jones industrial average has gained 67.9%. For all the Republican complaining about his anti-business policies, President Barack Obama’s first term in office has been good for the stock market.
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