At market close Thursday, the Dow Jones industrial average sat at 24,272, a new record high. Twice during the day, President Donald Trump tweeted the news.
Trump has repeatedly taken credit for high stock market indices, tweeting Wednesday that “I guess somebody likes me (my policies)!” He also tweeted in November that the metrics indicate “there is great confidence” in his administration.
In the 314 days since the president’s Jan. 20 inauguration, the Dow has risen by 22.4 percent, from under 20,000 to its current high.
So far, it’s the second-largest gain of any president’s first year - dating back to George H.W. Bush - in the three decades since the measure was first calculated.
A year after Barack Obama’s 2009 inauguration, the Dow had grown by 33.4 percent, as the market began to emerge from the Great Recession. At 314 days into his term – the same length of time that Trump has been president – the market had grown by slightly more than 30 percent.
In February, Trump hinted at a connection between stock market record highs and optimism about his presidency – which Politifact rated mostly true, as experts said investors’ hope for tax cuts were real but not the only driving factor.
Politifact also pointed out in March that the Dow rose steadily every year from 2010 to 2015, all under President Obama.