The S&P 500 is up 19% since President Donald Trump was reelected in November 2024. Michael Nagle/Bloomberg/Getty Images New York —

One year after President Donald Trump’s reelection, the US stock market continues to notch record highs .

The S&P 500 has gained 19.6% over the past 12 months, boosted by strong corporate earnings and investors’ enthusiasm about artificial intelligence. Stocks have been remarkably adaptable, defying concerns about a resurgence in global trade tensions and bouts of intense volatility.

To Trump, the market’s gains are a vindication of his policies. The president on October 27 touted stocks’ record highs while speaking to a crowd with Japanese Prime Minister Sanae Takaichi.

“Their stock market today and our stock market today hit an all-time high,” Tr

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