Comparing the DOW Jones Industrial Average During Barack Obama's First and Second Terms
During Barack Obama's presidency, significant changes were observed in various sectors, including the DOW Jones Industrial Average (DOW). This article explores the performance of the DOW during his second term in comparison to his first, highlighting key events and trends that shaped the market during these years.
The DOW Jones Industrial Average on Obama's First Inauguration Day
Barack Obama took office for the first time on January 20, 2009. On that day, the DOW closed at 7,750, a significant drop from its previous high of 14,164, which was recorded on October 9, 2007. This decline brought the DOW above the levels it had reached during the previous administration of George W. Bush.
Market Closures and DOW Performance During Obama's Second Term
Obama's second inauguration took place on Sunday, January 20, 2013. Due to the weekend and a public holiday, the DOW was closed for both the day of the inauguration (Sunday) and the following Monday, January 21, which was Martin Luther King Jr. Day. However, when the market reopened on Tuesday, January 22, 2013, the DOW opened at 13,649.70, a substantial increase from the low levels it had reached during the first term.
Final Days of Obama's Presidency
Barack Obama's last day in office was January 19, 2017. By this time, the DOW had experienced a significant recovery, closing at 19,805. This represents a growth of 5,641 points from the closing value of 14,164 on October 9, 2007, under George W. Bush. Over his eight-year tenure, this equates to a market gain of nearly 40%, showcasing a strong economic performance during his presidency.
Economic Impact Analysis
The performance of the DOW during Obama's presidency highlights several key aspects of economic performance. During his first term, the DOW experienced a significant downturn, reflecting the economic challenges of the 2008 recession. The second term, on the other hand, witnessed a steady recovery, as the economy began to regain its strength.
Conclusion
Barack Obama's presidency marked a period of significant economic changes, as evidenced by the DOW Jones Industrial Average. His first term saw a severe market downturn, while his second term witnessed a substantial market recovery. These trends reflect the economic policies and strategies implemented during each phase of his administration, ultimately contributing to the overall growth and stability of the market.
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