Worst First Month For a President Since Ford

Worst First Month For a President Since Ford

When President Obama was elected last November, many in the press said that the new President would instill a level of confidence not seen since the Administrations of FDR and JFK. However, after his first full month in office, the market hasn't embraced Obama in anything resembling the way it initially embraced FDR, JFK, or even Bill Clinton. As shown below, during the first months of FDR's and JFK's Presidencies, the Dow Jones Industrial Average (DJIA) rose by 4.18% and 3.04%, respectively.

President Obama's first full month in office has been accompanied by a 7.34% decline in the DJIA, which since 1900 is the second worst first month for a President behind the 14.71% decline under Gerald Ford, who came into office following the resignation of Richard Nixon.