Market returns vary considerably over presidential terms Market Returns Across U.S. Presidential Terms Stock market returns show significant variation across different presidential terms. Although the president’s policies may influence short-term market direction and sector performance, a wide range of factors—especially economic trends, monetary policy, and global events—drive overall market outcomes. Nevertheless, notable patterns and differences have emerged in market performance during and around presidential terms. Average Stock Market Returns by Presidential Term President Years in Office Avg. Annual S&P 500 Return Barack Obama 2009–2017 12.8% Donald Trump (1st term) 2017–2021 13.6% Joe Biden 2021–2025 11.9% Donald Trump (2nd term)* 2025–present 4.6% (early tenure) ...
Investment and economic observations by N. Russell Wayne, CFP, MBA. Mr. Wayne is the president of Sound Asset Management, inc. and former Managing Editor of The Value Line Investment Survey.