Archive · 5 Oct 2026
Trump Approval Falls as Markets Watch US Midterms
The United States is getting ready for midterm elections.
The article says the elections will show how voters feel about President Donald Trump and his policies.
Several polls show more people disapprove of him than approve, although the polls give different numbers.
The article links voters' concerns to the economy, trade, immigration enforcement and the war in Iran.
Polls about Congress suggest Democrats may be gaining support.
Some stock indexes have recently reached high levels.
But many companies in the S&P 500 have lost value, and a large share of the index's value is tied to AI-related companies.
The article also asks whether the Federal Reserve will take further action before the elections.
The article describes the upcoming US midterm elections as a test of President Donald Trump's popularity and policies.
FiftyPlusOne's September 25 average put Trump's approval at 34.9% and disapproval at 62.1%, down from a second-term high of 54% on January 22, 2025.
Other cited polls differed: the New York Times poll reported 37% approval and 61% disapproval, while Rasmussen reported 44% approval and 55% disapproval.
The article says concerns about the economy, trade, immigration enforcement and the war in Iran are weighing on Trump's ratings; generic congressional polls show Democrats gaining ground.
Although major stock indexes recently reached highs, the S&P 500 rose only 2% in September, and the article reports weak market breadth and a concentration of value in AI-related companies.
- Who
- President Donald Trump, US voters, Democrats, investors and the Federal Reserve.
- What
- The article reviews Trump's approval polls, congressional polling and financial-market movements ahead of the US midterm elections.
- When
- Ahead of the upcoming midterms; the cited poll figures include dates in September and October 2026.
- Where
- The United States and US financial markets.
- Why
- The midterms are presented as a test of Trump's policies and voter support, amid economic concerns and market uncertainty.
Signals of concern
Signals of strength
Trump's approval
Signals of concern
The cited polling averages and surveys show disapproval exceeding approval.
Signals of strength
The polls vary considerably: Rasmussen reports higher approval than the other cited figures.
Stock-market outlook
Signals of concern
The article highlights limited S&P 500 gains, many stocks down for the year, and narrow market breadth.
Signals of strength
Major indexes, including the S&P 500 and MSCI All Country World index, were reported at peaks, while the Nasdaq reached a new high.
- FiftyPlusOne poll average
- As of September 25: 34.9% approval and 62.1% disapproval.
- Second-term approval high
- 54% on January 22, 2025, according to the article.
- New York Times poll
- Dated October 1, 2026: 37% approval and 61% disapproval.
- Rasmussen poll
- Dated September 30, 2026: 44% approval and 55% disapproval.
- S&P 500 performance
- The article says the index rose 2% in September.
- Market breadth
- The article says about 40% of S&P 500 stocks were down for the year and a quarter had fallen 10% or more.
- AI-related companies
- The article says they made up more than half of the S&P 500's market capitalisation.