How Trump 2.0's stock market stacks up with predecessors
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The S&P 500 rose 27.6% during the first 20 months of Trump's second term, slightly underperforming the 28.5% gain recorded during his first term. While Trump 2.0 has outpaced Biden's performance, it continues to trail behind Trump's first term across major indices like the Dow and Nasdaq.
How Trump 2.0's stock market stacks up with predecessors
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4 hours ago - Business
How Trump 2.0's stock market stacks up with predecessors
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*Data:Financial Modeling Prep; Chart: Erin Davis/Axios Visuals*
**The 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 Avg***
* **Trump 2.0:** 18.8%
* **Biden:** 0.3%
* **Trump 1.0:** 33.8%
* **Obama**: 28.1%
*Nasdaq Composite*
* **Trump 2.0:** 35.1%
* **Biden:** (-12.6%)
* **Trump 1.0:** 43.5%
* **Obama:** 51.4%
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4 hours ago - Business
How Trump 2.0's stock market stacks up with predecessors
* Dan Primack
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*Data:Financial Modeling Prep; Chart: Erin Davis/Axios Visuals*
**The 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 Avg***
* **Trump 2.0:** 18.8%
* **Biden:** 0.3%
* **Trump 1.0:** 33.8%
* **Obama**: 28.1%
*Nasdaq Composite*
* **Trump 2.0:** 35.1%
* **Biden:** (-12.6%)
* **Trump 1.0:** 43.5%
* **Obama:** 51.4%
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What to read next
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Axios Media Inc., 2026
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Source: Axios
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