The Dow index broke through the 25,000 barrier at the beginning of 2018 and has since continued to rise past 26,000. With the year anniversary of Tump’s inauguration tomorrow, Dow has risen more than 33% since Trump took office.

Excluding president Trump, the average Republican president has seen a loss of 1.3% in their first year compared to a 13% rise for Democratic presidents. However, it could become more difficult for Trump if inflation and interest rates rise or quantitative easing is withdrawn.

Trump quickly moved to cut regulations enacted by previous administrations. He successfully pushed to overhaul the U.S. tax code, which included slashing the corporate tax rate to 21% from 35%.

Some investors have expressed beliefs that Trump has received too much credit for the improvements and the run-up really speaks for the global economy boosting industrial stocks.