By John Towfighi, CNN

New York (CNN) — The stock market in President Donald Trump’s first year back in the White House was the weakest of any president’s first year of a new term since 2005, when George W. Bush started his second term.

From Trump’s inauguration day to January 20, 2026, the S&P 500 rose 13.3% — healthy gains by any standard. But it was the worst start to a presidency in 20 years. In comparison, the S&P 500 gained 24.1% across the first year of Trump’s first term, according to CFRA Research.

Stocks climbed higher across the past year, extending a bull run driven by enthusiasm about artificial intelligence. Meanwhile, international stocks outperformed the United States in 2025 for the first time in years.

The stock market, of course, doesn’t operate in a vacuum. Trump’s second term came on the heels of the S&P 500’s first back-to-back annual gains of more than 20% since the 1990s. The bar for further gains was already set pretty high.

Still, this past year has been marked by policy whiplash from the Trump administration.

Stocks slid to the brink of a bear market in April amid tariff uncertainty before sharply rebounding as Trump backed off his most severe threats. The S&P clinched 39 record highs across the year. In comparison, the index clinched 62 record highs in 2017, the first year of Trump’s first term.

Trump appears to be aware of the stock market’s performance and views the market as a barometer for his success. On Wednesday, he said the recent stock market dip because of uncertainty about Greenland and tariffs was “peanuts” and the market would soon be “doubled.” He backed off his tariffs later in the day, which sent stocks on a rebound.

US stocks gained in 2025 amid enthusiasm about AI, optimism about Federal Reserve interest rate cuts, corporate earnings that remain robust and an economy that proved resilient. Trump in the summer also signed his “One Big Beautiful Bill Act” into law. The stimulative impact of that policy could provide a further boost to markets this year.

“The front-end loading of this stimulus is a big reason why the stock market did well the first year of this term,” Matt Maley, chief market strategist at Miller Tabak + Co, said in an email.

“This is also why many investors are thinking that the president wants to ‘let the economy run hot’ through the midterm elections,” Maley said. “This does not mean that the second year will be as bullish for stocks as the first year, but there is little question that the administration wants to see a very strong stock market this year, especially in the 5-6 months leading into those midterm elections.”

Strong gains, historic volatility

The first year of Trump’s second term yielded solid gains and bouts of volatility. Wall Street’s fear gauge, the VIX, surged to historically high levels in the spring amid the turmoil surrounding Trump’s tariffs.

“The only truly exceptional thing was that the VIX went over 50 for the first time since the pandemic during the height of trade policy uncertainty,” Nick Colas, co-founder at DataTrek Research, said in an email.

Tim Thomas, chief investment officer at Badgley Phelps Wealth Managem

UC SANTA BARBARA, Calif. (KEYT). - The UC Santa Barbara Women's Basketball team defeated Long Beach State Saturday afternoon, picking up their seventh conference win and second win over the Beach this season.

FROM HEAD COACH RENEE JIMENEZ
"I mean, they love scoring. I think you try to tell your teams to not focus on the offensive end, but clearly for this team, it's kind of what gets them going," Jimenez said. "We're going to have to grind games out and be really disciplined defensively. So I really challenge that."

HOW IT HAPPENED
The first quarter's action varied, as the Gauchos scored nine points in the first seven minutes and ten in the last three. After taking a moment to get their footing, they made eight points in a row to sufficiently differentiate themselves from the Beach and finish the period ahead at 19-11.

Santa Barbara dominated the second quarter, making nearly 15 points in a row. Long Beach interrupted the streak with a three, but the Gauchos rolled out of the half almost 20 points ahead at 37-18.

The Gauchos put on their best performance of the game in the third quarter, scoring 20 points. Long Beach also improved in the third, making 15, but still ended behind at the buzzer 56-33.

The Beach outscored the Gauchos in the fourth, making 23 for their highest quarter of the game. Santa Barbara made just 15, though it still wrapped the contest 72-56.

Maddie Naro achieved a career-high three point count, scoring five. She led the team in the stat and hit double-digit points for the fourth time this season. She also went 6 for 11 to shoot 54%. Zoe Shaw hit three threes to score the second highest tally for the Gauchos.

Olivia Bradley reached 20 points again, getting exactly 20 off of a stunning 70% shooting average. She also put down a game-high four blocks.

Chauncey Andersen had herself a day and led the team alongside Julia Puente-Valverde in rebounds – both with eight.

UP NEXT
The Gauchos are back at home on Thursday, Jan. 29 to take on UC San Diego at 6:00 p.m. Santa Barbara is placed third in The Big West, just one spot behind the Tritons, and look to up their ranking with a defeat of San Diego.

(Article courtesy of UCSB Athletics).

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LONG BEACH, Calif. (KEYT) - UC Santa Barbara men's basketball won its fourth consecutive game after holding on for a 74-71 win over Long Beach State on Saturday evening. The Gauchos led by as much as 17 before the Beach tied the game with under 3 minutes remaining in the contest. Fortunately, the Gauchos hung on to defeat the Beach for the eighth consecutive time.

HOW IT HAPPENED
The Gauchos drew first blood in the game after an Aidan Mahaney layup, assisted by Miro Little. The Gauchos made their next two shots, starting 3-for-3 from the floor and taking an early four-point lead. The Gauchos and Beach continued to trade possessions.

Around the mid-way point of the half, Mahaney hit a three that put the Gauchos up eight and sparked an 8-0 run, extending the lead to 13. As the half drew to a close, the Gauchos and Beach traded baskets, but Long Beach could not cut the deficit, as the Gaucho offense was overpowering. Santa Barbara ended the half up 15.

At halftime, Mahaney was a perfect 6-for-6 and 3-for-3 behind the arc to lead all scorers with 15 points. The Gauchos were outrebounding the Beach by seven at the break and had 12 assists on 16 made baskets.

After a slow start to the second half, the Beach went on a 7-0 run to cut the Gaucho lead to 10. A Marvin McGhee IV second-chance three-pointer stopped the run. Out of timeout, Long Beach proceeded to go on 8-0 run and cut the Gaucho lead further, forcing UC Santa Barbara to take a timeout.
12-8
Through the middle part of the second half, the teams traded baskets, with the lead floating between five and eight points in favor of the Gauchos. After another Beach run (7-0) the UC Santa Barbara lead was trimmed to three, and shortly after a Beach three-pointer tied the game at 67 with 2:52 to go in regulation.

CJ Shaw took over after that, scoring four consecutive points to regain the lead for Santa Barbara. Long Beach State pulled within one after making a mid-range shot with 36 seconds left. The Gauchos went up three after Mahaney danced around the paint and made a layup with 10 seconds left. A last-second three-pointer came up short for the Beach and the Gauchos won their fourth straight game.

NOTABLES
The last five games between UC Santa Barbara and Long Beach State in Long Beach have been decided by five points or less.
Over the last two games, Miro Little has recorded 17 assists to just three turnovers.
Aidan Mahaney recorded his fourth 20-plus point game of the season by scoring 21 points in the win.
UC Santa Barbara has now won eight consecutive games against Long Beach. Their last loss came during the 2021-22 season.

UP NEXT
UC Santa Barbara will stay on the road as it travels to UC San Diego on Thursday, Jan. 29. The Gauchos and Tritons will tip off at 7 p.m. in La Jolla at LionTree Arena. The game will be streamed on ESPN+ with live stats available.

(Article courtesy of UCSB Athletics).

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WESTWOOD, Calif. (KEYT) - UC Santa Barbara delivered a historic performance on Sunday, knocking off No. 10 UCLA, 4-1, to capture the ITA Kickoff Weekend Championship match and secure one of the program's biggest wins in history. The victory marked UCSB's second all-time win over UCLA and capped off a flawless weekend for the Gauchos.

THE MATCH
Final: UC Santa Barbara 4, UCLA 1
Records: UC Santa Barbara (3-0), UCLA (2-1)

HOW IT HAPPENED
The tone was set early in doubles, where the Gauchos swept the point in convincing fashion. Miguel Avendano and Lucca Liu dismantled the No. 47-ranked pair of Rudy Quan and Aadarsh Tripathi, 6-2, on court two. Minutes later, Lorenzo Brunkow and Diogo Morais sealed the doubles point with a 6-3 win over Gianluca Ballotta and Andy Nguyen on court three, giving the Gauchos a 1-0 advantage heading into singles. The top doubles match was left unfinished at 4-4.

UCLA evened the score briefly in singles, as Aadarsh Tripathi claimed a 6-1, 6-1 victory over Carson Lee on court five. From there, it was all Gauchos. No. 70 Lucca Liu delivered a commanding win in the No. 1 position, taking down No. 53 Rudy Quan in straight sets, 6-3, 6-4, to swing momentum firmly back in UCSB's favor. Charlie Underwood followed with a composed 6-3, 6-2 win over Gianluca Ballotta on court six, putting UC Santa Barbara on the brink of closing out the dual.

The match-clinching point came in the No. 4 position, where Diogo Morais turned in a dominant performance against Andy Nguyen, earning a 6-2, 6-3 victory and qualifying the Gauchos to Team Indoor Nationals. Play was stopped on the remaining courts with UCLA holding narrow leads at the time.

The win improved UC Santa Barbara to 3-0 on the season, while UCLA fell to 2-1. Beyond the numbers, the result stands as a landmark moment for the Gauchos, showcasing their depth, composure, and ability to compete with the nation's elite on one of college tennis' biggest early-season stages.

RESULTS
Doubles

1. Conrad Brown/Dominique Rolland (UCSB) vs. #19 Spencer Johnson/Emon van Loben Sels (UCLA) 4-4, unfinished
2. Miguel Avendano/Lucca Liu (UCSB) def. #47 Rudy Quan/Aadarsh Tripathi (UCLA) 6-2
3. Lorenzo Brunkow/Diogo Morais (UCSB) def. Gianluca Ballotta/Andy Nguyen (UCLA) 6-3

Order of finish: 2, 3

Singles

1. #70 Lucca Liu (UCSB) def. #53 Rudy Quan (UCLA) 6-3, 6-4
2. #32 Dominique Rolland (UCSB) vs. #75 Spencer Johnson (UCLA) 3-6, 4-5, unfinished
3. Miguel Avendano (UCSB) vs. #20 Emon van Loben Sels (UCLA) 3-6, 3-5, unfinished
4. Diogo Morais (UCSB) def. Andy Nguyen (UCLA) 6-2, 6-3
5. Aadarsh Tripathi (UCLA) def. Carson Lee (UCSB) 6-1, 6-1
6. Charlie Underwood (UCSB) def. Gianluca Ballotta (UCLA) 6-3, 6-2

Order of finish: 5, 1, 6, 4

UP NEXT
UC Santa Barbara hosts South Florida in its first Big Six match of the season on Feb. 1 at 12 p.m., featuring a T-shirt giveaway along with food and drinks for fans.

(Article courtesy of UCSB Athletics)

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SANTA BARBARA, Calif. KEYT) - San Marcos High School girls water polo scored their best victory of the season beating Oaks Christian 11-8 to claim third place at the Newport Elite Tournament.

USC-bound Charlotte Raisin and Jad Pattison each scored 3 goals while Harvard-commit Bethany King held the Lions to just one total goal in the second and third quarters.

Earlier in the day San Marcos lost to Newport Harbor 15-10. The Sailors won the championship beating Mater Dei in the finals 12-6.

Dos Pueblos finished in sixth place at the SoCal Championship Tournament.

The Chargers beat Alta Loma 13-5 and lost to San Clemente 9-6.

Goalie Reagan Mack made a combined 22 saves for DP while Talia Marshall led the offensive attack with a total of six goals in the two games.

Santa Barbara picked up a pair of wins on the final day of the Los Altos Tournament.

The Dons beat Temple City 17-10 and Rosary 14-6.

Jules Horton led the way for Santa Barbara with 5 goals against TC.

Freshman Violette Bailey and Luna Morancey each totaled 8 goals in the two wins.

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