https://thehill.com/homenews/administration/476299-trump-enters-2020-on-a-bull-market-high
President Trump is entering 2020 on a Wall Street high, boasting strong stock market numbers that he hopes will buoy his political prospects entering a reelection year.
Tuesday marks the final day of trading for 2019, and both the S&P 500 and Dow Jones indices are poised to finish the year with significant gains. The Dow is up about 22 percent from a year ago, and the S&P is up just over 28 percent in that span as of the closing bell on Monday.
Analysts said that some of 2019’s stock market gains are a rebound from a decline in stock prices at the end of the year but that the stock market is still ending 2019 at a level above 2018’s peak and there haven’t been any major corrections this year.
“It was a great year, as far as market performance is concerned,” said Howard Silverblatt, senior index analyst for S&P Dow Jones Indices.
The Washington Post reported Saturday that the Dow Jones gains in Trump’s time in office so far lag the gains in the same time periods of Bill Clinton’s and Barack Obama’s administrations, but they exceed gains made during other recent presidencies. The rise in the Clinton era coincided with a tech boom, while the rise in the Obama years came after a financial crisis that saw markets hitting a low point at the beginning of his administration.
Trump claimed during a recent trip to London for a NATO gathering that he doesn’t pay attention to the stock market and prefers to watch job numbers. But the president’s Twitter feed indicates otherwise.
He has tweeted a dozen times in December alone about the state of the stock market, touting each new record high in an effort to connect the boost in numbers to his time in office.
“New Stock Market high!” Trump tweeted Dec. 16. “I will never get bored of telling you that — and we will never get tired of winning!”