Another surprise, also sure to rankle the right, is that the average stock-market gain under four post-Depression Democrats through each one’s 2,000th day in office has outpaced the average gain of the four Republicans in the era by a factor of nearly 4 to 1. Democratic gains have averaged 133%, while Republican market advances have had a mean of 33%.
Stovall noted that the pattern follows historic precedent. When there’s a split Congress, Democratic presidents see four times the gains that Republicans do, as well as when Democratic administrations do battle with a unified Republican Congress. Markets, however, do better under Republicans when they control the White House and both houses of Congress than Democrats do when in the same catbird seat.
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