The 31 percent rise of the Dow Jones Industrial Average is the best gain in the first year of a presidency since Franklin Roosevelt.
Since January 20th, 2017, the stock market has made overwhelming gains with the Dow rising by 31 percent, the best performance since Roosevelt where it skyrocketed by 96.5 percent in his first year of office.
The figure is higher than that of Harry Truman, Barack Obama, and Lyndon B. Johnson, all of whom saw substantial gains of over 25 percent.
Most analysts believe the gains are driven by the Trump administrations slashing of regulations as well as a substantial corporate tax cut from 35 to 21 percent passed by Congress last December.
“This is all about policy,” Bruce Bittles, chief investment strategist at Baird told CNBC. “You’ve got lower taxes, less regulation and confidence in the economy is high. Things are firing on all cylinders.”
Companies such as Boeing and Caterpillar have seen a growth of 115 percent and 82 percent, while thousands of major businesses have experienced major gains.
Other positive economic indicators include records lows of unemployment. According to Labor Department figures released earlier this week reveal jobless claims have fallen to a record low of 220,000, while overall GDP has surpassed expectations.