Stock Market’s Value Under Trump Has Grown by $6.9 Trillion to $30.6 Trillion
By News
Published 5 years ago on
June 24, 2019
Share
[aggregation-styles]
CNBC
CNBC
The U.S. stock market has added nearly $6.9 trillion in market cap since President Donald Trump was elected, already close to half of what was added in all eight years of President Barack Obama’s tenure.
The market cap, based on the Russell 3000, surpassed $30 trillion for the first time last week and was at $30.6 trillion Thursday, according to Bespoke.
“I think the performance in the first year has exceeded almost everybody’s expectations,” said Paul Hickey, co-founder of Bespoke. Hickey uses the Russell 3000 to measure overall market cap, since it represents about 98 percent of all U.S. stocks.
When Trump was elected, stocks rose out of the gate after an initial late-night collapse in futures prices. After that, the market rewarded stocks and sectors that would benefit from the “Trump trade” and Trump’s pro-growth policies.
The market cap, based on the Russell 3000, surpassed $30 trillion for the first time last week and was at $30.6 trillion Thursday, according to Bespoke.
“I think the performance in the first year has exceeded almost everybody’s expectations,” said Paul Hickey, co-founder of Bespoke. Hickey uses the Russell 3000 to measure overall market cap, since it represents about 98 percent of all U.S. stocks.
When Trump was elected, stocks rose out of the gate after an initial late-night collapse in futures prices. After that, the market rewarded stocks and sectors that would benefit from the “Trump trade” and Trump’s pro-growth policies.
By Patti Domm | 18 Jan 2018
RELATED TOPICS:
Dems: We Will Save GOP Speaker Johnson’s Job if Republicans Try to Oust Him
Politics /
16 hours ago
Angels Star Mike Trout Needs Knee Surgery. Will He Return This Season?
Sports /
16 hours ago
Campaign to Build New California City Submits Signatures to Get on November Ballot
Housing /
18 hours ago
Scammers Stole More Than $3.4 Billion from Older Americans Last Year, an FBI Report Says
Crime /
18 hours ago
4 Law Officers Serving Warrant Are Killed, 4 Wounded in Shootout at North Carolina Home, Police Say
Crime /
18 hours ago
Latest
Videos
Politics /
4 mins ago
Rep. Marjorie Taylor Greene Vows to Force a Vote on Ousting House Speaker Mike Johnson
News /
60 mins ago
Protesters Clash at UCLA After Police Arrest 300 Pro-Palestinian Demonstrators in New York City
Politics /
16 hours ago
Dems: We Will Save GOP Speaker Johnson’s Job if Republicans Try to Oust Him
Sports /
16 hours ago
Angels Star Mike Trout Needs Knee Surgery. Will He Return This Season?
Latest /
20 hours ago