Some individual polls, such as Gallup, have shown President Obama enjoying a smallish, 3% bounce from his State of the Union speech. However, Pollster.com's wide view of the entire polling universe shows the bounce to be even smaller--only 0.4%.
Explanatory charts and numbers in the extended entry.
President Obama went from a net job approval of +0.2% on the day of the State of the Union to a net approval of 0.6% yesterday. Looking at the same chart with a 0-100% range, instead of the above chart's 45-50% range, puts the size of this bounce in perspective:
The average "bounce" across 24 State of the Union speeches is actually negative, although essentially zero.
Apart from getting prime-time space for politics on network television, it kind of makes you wonder why the State of the Union has become such a major event.