Stock market performance by president
The S&P 500's price change over each presidential term since 1953, from the last close before inauguration to the last close before the next one (for the current term, to the latest close on Nov 6, 2026). Among completed terms, the highest annualized return came under Bill Clinton (+15.1% a year) and the lowest under George W. Bush (-5.6% a year).
| President | Term | S&P 500 start | End | Total return | Per year | Deepest decline |
|---|---|---|---|---|---|---|
| Dwight D. Eisenhower | 1953–1961 8.0 yrs |
26.01 Jan 19, 1953 |
59.77 Jan 19, 1961 |
+129.8% | +11.0% | -21.5% |
| John F. Kennedy | 1961–1963 2.8 yrs |
59.77 Jan 19, 1961 |
71.62 Nov 21, 1963 |
+19.8% | +6.6% | -28.0% |
| Lyndon B. Johnson | 1963–1969 5.2 yrs |
71.62 Nov 21, 1963 |
102.03 Jan 17, 1969 |
+42.5% | +7.1% | -22.2% |
| Richard Nixon | 1969–1974 5.6 yrs |
102.03 Jan 17, 1969 |
81.57 Aug 8, 1974 |
-20.1% | -3.9% | -34.7% |
| Gerald Ford | 1974–1977 2.5 yrs |
81.57 Aug 8, 1974 |
103.85 Jan 19, 1977 |
+27.3% | +10.4% | -23.6% |
| Jimmy Carter | 1977–1981 4.0 yrs |
103.85 Jan 19, 1977 |
134.37 Jan 19, 1981 |
+29.4% | +6.7% | -17.1% |
| Ronald Reagan | 1981–1989 8.0 yrs |
134.37 Jan 19, 1981 |
286.91 Jan 19, 1989 |
+113.5% | +9.9% | -33.5% |
| George H. W. Bush | 1989–1993 4.0 yrs |
286.91 Jan 19, 1989 |
435.13 Jan 19, 1993 |
+51.7% | +11.0% | -19.9% |
| Bill Clinton | 1993–2001 8.0 yrs |
435.13 Jan 19, 1993 |
1,342.54 Jan 19, 2001 |
+208.5% | +15.1% | -19.3% |
| George W. Bush | 2001–2009 8.0 yrs |
1,342.54 Jan 19, 2001 |
850.12 Jan 16, 2009 |
-36.7% | -5.6% | -51.9% |
| Barack Obama | 2009–2017 8.0 yrs |
850.12 Jan 16, 2009 |
2,263.69 Jan 19, 2017 |
+166.3% | +13.0% | -22.6% |
| Donald Trump (first term) | 2017–2021 4.0 yrs |
2,263.69 Jan 19, 2017 |
3,798.91 Jan 19, 2021 |
+67.8% | +13.8% | -33.9% |
| Joe Biden | 2021–2025 4.0 yrs |
3,798.91 Jan 19, 2021 |
5,996.66 Jan 17, 2025 |
+57.9% | +12.1% | -25.4% |
| Donald Trump (second term) Current | 2025–now 1.8 yrs |
5,996.66 Jan 17, 2025 |
7,376.86 Nov 6, 2026 |
+23.0% | +12.2% | -18.9% |
Price return of the S&P 500 (dividends excluded). Per year = compound annual rate, shown for terms of a year or more. Deepest decline = the largest fall from a high during the term (including the starting level), on closing prices. Kennedy's term ends, and Johnson's begins, at the close of November 21, 1963; Nixon's ends and Ford's begins at the close of August 8, 1974.
Frequently asked questions
Do presidents control the stock market?
Not much. Stock prices depend mainly on corporate profits, interest rates, the economic cycle and events no administration controls, and terms begin at very different points of the cycle — some inherited recessions or bubbles. Comparisons like this one describe what happened while a president was in office, not what caused it.
Why are these returns lower than other sources show?
Many published comparisons use total returns, which include reinvested dividends and add a few percentage points a year. Others use the Dow Jones Industrial Average or different start and end dates. This table uses the S&P 500's price only, from the last close before each inauguration.
Source: daily S&P 500 closes from Yahoo Finance. Not investment advice.