How Trump 2.0's stock market stacks up with predecessors
Source: www.axios.com ·
Section: politics ·
Bias: Center
· Published: Sun, 20 Sep 2026 10:00:07 GMT
Data: Financial Modeling Prep; Chart: Erin Davis/Axios VisualsThe stock market soared during the first 20 months of President Trump's second term, but slightly underperformed the same period of his first term.Why it matters: Trump considers the stock market to be a proxy for the economy, even though many economists disagree.By the numbers: The S&P 500 rose nearly 27.6% between inauguration day and this past Friday's close, compared to 28.5% during his first term.The gap at 20 months is closer than it was at the one-year mark, with Trump 2.0 leapfrogging former President Biden but still trailing former President Obama.Zoom in: Trump 2.0 also trails Trump 1.0 in terms of Dow Jones Industrial Average and Nasdaq Composite performance, but is ahead on the Russell 3000.Dow Jones Industrial AvgTrump 2.0: 18.8%Biden: 0.3%Trump 1.0: 33.8%Obama: 28.1%Nasdaq CompositeTrump 2.0: 35.1%Biden: (-12.6%)Trump 1.0: 43.5%Obama: 51.4%
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