Yet Another Bush Legacy
January 21, 2009
According to an article in Marketwatch, stock market declined at annualized rate of 2.3% during 8 years of George W. Bush presidency. He is the first president out of the last five to oversee any decline at all.
The first day of Obama presidency did not impress the market, either. Yesterday, the market fell by some 332 points for the worst performance of the year, as well as the worst performance of the Inauguration Day in history.
It looks like the Obama rally that many were hoping for in early January did not materialize. We are in the beginning stages of the earnings season, and earnings, and especially outlooks for the next quarter, will be driving the market.
Entry Filed under: Market Conditions. .
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