From Paul Krugman:

[T]here’s this awkward fact that markets have, you know, gone up under Obama. And this isn’t just a phenomenon of the last few months. Look back at stock returns under recent presidents, which is easy using a clever gadget at Political Calculations. Taking real, dividend-inclusive annual returns on the S&P 500, I get: Reagan: 10.08% Bush I: 10.16% Clinton: 14.35% Bush II: minus 5.81%