Trump vs Obama: In 2016 Election Week Dow Up 3.3% to Record High; After Obama’s 2008 Win Dow Down 4.1%
The Dow Jones Industrial Average posted its best week since 2011 after Donald Trump’s election win. The Dow was initially down on election night but rebounded to its best week in more than 5 years.
Stocks skyrocketed after Republican Donald Trump‘s surprise victory over Hillary Clinton, as investors considered the prospects of higher infrastructure spending and less regulation within the financial sector. The Dow closed at an all-time high on Thursday, while the S&P and the Nasdaq were flirting with their record highs entering Friday. Financial markets, as well as numerous pollsters and political analysts, had expected Clinton, the former secretary of State, to win the race for the White House.
The market closed at an all time high on Friday at 18,847. From the beginning bell on election day Tuesday morning November 8th to Friday’s close the Dow increased by 3.3%.
The week that Obama won the election in 2008 was a different story. On Tuesday morning, November 4th, 2008, the Dow opened at 9,323. By week’s end the Dow had lost 380 points for a decrease of 4.1%.
The Trump win is already reaping rewards for many Americans.