The S&P 500 hit a new record high, and the Nasdaq Composite index crossed the 9,000-point mark for the first time in its history on Thursday, Dec. 26, helping the stock market rally under President Donald Trump surpass all past U.S. presidents.
CNBC data shows all three major indexes closed the day at new all-time highs, with the Dow Jones Industrial Average up 0.37% at 28,621.39, and the S&P 500 up 0.51% at 3,239.91.
The Nasdaq Composite climbed 0.78% to 9,022.39, topping the 9,000 mark for the first time ever.
Notching its 34th record close on Thursday, the S&P 500 rose 3.1% in December and 8.8% this quarter. The benchmark is now less than 1 percentage point from posting the best annual performance since 1997 and a good chance to break that record.
CNBC also highlighted on Thursday, the “Trump stock market rally is far outpacing past U.S. presidents.”
The S&P 500 has returned more than 50% since President Donald Trump was elected in 2016, more than double the 23% average market return of his presidential predecessors three years into their term, CNBC cited Bespoke Investment Group data showing.
President Trump’s first year was about triple the presidential average, with the S&P 500 gaining 19.4% compared with the average 5.7%. The index fell 6.2% in his second year, compared with the average gain of 4.5%.
This year, S&P 500 rose more than 28%, outpacing the average 12.8% return of year three for past U.S. presidents.
The president on Thursday retweeted a post from Trump War Room, saying “Americans’ retirement savings are WINNING BIG under President Trump!”