The Dow Jones Average closed above 39,000 for the first time ever yesterday (Feb. 22, 2024). Should we thank President Biden?

I saw some people doing just that yesterday on Twitter (X).

One way to look at it is to see what was the percentage gain in the Dow from Jan. 20, 2017 to Feb. 22, 2020 (about the first three years when Trump was president). Then do the same for Jan. 20, 2021 to Feb. 22, 2024 (about the first three years when Biden was president).

Here are the relevant values for the Dow the first three years of Trump:

1/20/2017          19827.25
2/21/2020          28992.41
2/24/2020          27960.8

I show two dates since Feb. 22, 2020 was a Saturday and there was no trading.

Using 2/21/2020, the Dow was up about 46% (since 28992.41/19827.25 = 1.46). Using 2/24/2020, it was up about 41% (since 27960.8/19827.25 = 1.41).

Now for Biden 

1/20/2021          31188.38
2/22/2024          39069.11

The Dow was up about 25% (since 39069.11/31188.38 = 1.25).

Data is from a site called MeasuringWorth. Specifically from Daily Closing Values of the Dow Jones Average in the United States, May 2, 1885 to Present.