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How The Market Performed The First Month Of Every Presidency Since Eisenhower

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How The Market Performed The First Month Of Every Presidency Since Eisenhower
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President Donald Trump hasn’t even been on office for a month yet, but he has already made a number of controversial policy decisions. Trump has announced that he will begin construction on the border wall with Mexico within months, he has instituted a 90-day travel ban from seven majority-Muslim countries and he has indicated his intents to nix free trade with Mexico, China and other foreign countries.

While members of the Indivisible Movement are up in arms about Trump’s actions in office, investors certainly have no complaints about their returns so far.

Investors May See Trump Presidency Differently Than Non-Investors

As CNBC’s Carl Quintanilla pointed out on Friday, the S&P is on pace for its best first month under a new president since its 3.2 percent gain during former President George H. W. Bush’s first month in office back in 1989.

The S&P 500 is up 1.6 percent so far since Trump took office, marking only the fifth time since Eisenhower’s inauguration back in 1953 that the stock market started off a new administration on a positive note. The S&P 500 plummeted more than 4 percent during the first month of both former presidents Barack Obama and George W. Bush’s terms.

To take things a step further, the SPDR S&P 500 ETF Trust (NYSE: SPY) is now up 8.3 percent in the roughly three months since Election Day. Every single SPDR sector ETF is up in that time, led by the Financial Select Sector SPDR Fund (NYSE: XLF) (+19.2 percent) and The Industrial Select Sector SPDR Fund (NYSE: XLI) (+11.2 percent).

The Utilities SPDR (ETF) (NYSE: XLU) has been the worst-performing sector ETF, up just 0.2 percent.

Image Credit: "Eisenhower at the Potsdam conference, July 20, 1945. right: Lucius D. Clay" By Unknown or not provided - U.S. National Archives and Records Administration, Public Domain, via Wikimedia Commons

Posted-In: Carl QuintanillaSector ETFs Education Politics Top Stories Markets ETFs General Best of Benzinga

 

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