Stocks, which already had plunged in in the wake of the financial crisis, continued to collapse in the first few weeks after Obama was inaugurated. But as anyone who follows stocks closely knows, the market bottomed in March and has been off to the races ever since. With that in mind, it may be tough for stocks to enjoy nearly as explosive a rally under Trump in the next four or eight years as it has during Obama's tenure.

Obama officially begins 2nd term on Sunday - unyyozeqy.web.fc2.com

That seems unimaginable, doesn't it? Heck, 47, seems say like Wallace Shawn in "The Princess Bride" inconceivable! But how did the Dow go from just around 6, at its low point eight years ago to the precipice of 20, today?

Obama does deserve some, albeit not all, of the credit. However, the bank bailout love it or hate it that was put into place during the last few months of the George W.

Bush administration also is largely responsible for stabilizing large banks, one of the primary culprits of the collapse. Dow components JPMorgan Chase JPM and Goldman Sachs GS have skyrocketed since the bailout and are not far from their record highs.

Emergency programs put into place by the Federal Reserve in and early -- and the maintaining of historically low interest rates throughout Obama's tenure -- also played a role in stabilizing the markets. The dramatic rise of several big technology stocks in the past eight years has also helped propel the market higher. That may have little to do with Obama. Does Obama deserve credit for the genius of the late Steve Jobs, Jeff Bezos and Mark Zuckerberg?

All this goes to show that a President is partly but not entirely responsible for how well stocks do during their term.

It's also worth noting that the market is not the same thing as the economy. The market may have set records over the past eight years, but the pace of the economic recovery remains frustratingly slow for many Americans -- and that helped fuel Trump's victory over Hillary Clinton. But if earnings keep humming along under Trump and economic growth picks up thanks to plans to boost infrastructure spending and other stimulus, then maybe the Dow will be above 45, or even 60, by the time he's leaving the White House.

Stocks plunged under George W. But if GDP growth accelerates under Trump, then the market could wind up climbing, just as it did for many of his predecessors. A stronger economy should be good news for construction giant and Dow component Caterpillar CAT -- which has already popped on stimulus hopes.

It would also benefit many other cyclical Dow companies like retailers Walmart WMT and Home Depot HD and other brand name consumer firms such as Coca-Cola KO and Disney DIS. So scoff if you want at the notion that the Dow could hit gaudy targets like 45, or 60, within the next few years. But just remember that it seemed equally laughable for the Dow to pass round number milestones like 2,, 10, and 15, under Reagan, Clinton and Obama.

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