When assessing Barack Obama's chances of re-election, many commentators focus on the state of the U.S. economy – particularly employment. But if stock market performance also affects voter behaviour, then his chances don't look so bad: According to Bespoke Investment Group, the Dow Jones industrial average has risen 60 per cent since Mr. Obama was inaugurated as the 44th President of the United States, three years ago.
Only five presidents have seen the Dow rise 50 per cent or more during their years of leadership. "Ironically, even though Republicans are usually considered more business friendly and better for the equity market, of the five Presidents where the DJIA rallied 50 per cent or more, three were Democrats (FDR, Clinton, Obama) and only two were Republicans (Coolidge and Eisenhower)," Bespoke said on its blog.
David Berman