Donald J. Trump declares stock market’s best quarter since his first term

touted surging S&P 500, Nasdaq, and Dow gains alongside his Working Families Tax Cuts in a sweeping economic victory lap on Truth Social.

First Published: July 4, 2026, 1:15 AM EST

WHITE HOUSE — Donald J. Trump declared the stock market completed its best quarter since his first presidency on a Truth Social post on July 3, 2026 at 8:02 PM EST.

Here is the full post (see truthsocial): “THE TRUMP ECONOMY IS SOARING! The Stock Market just completed its BEST QUARTER since the last time I was President. The S&P 500, Nasdaq, and Dow are all SURGING, sending Americans’ 401(k)s higher and higher. My Working Families Tax Cuts mean MORE MONEY IN AMERICAN POCKETS. Our Trade Deficit continues to shrink as U.S. Exports hit Record Month after Month. America is building more, producing more, and selling more than ever before. Trillions of Dollars in new Investment brought in by my Administration mean more Factories, more Jobs, and more Opportunity for Americans. This is WINNING. The Golden Age of America is beginning — and we are just getting started! Donald J. Trump”

Trump pointed to gains across the S&P 500, Nasdaq, and Dow Jones Industrial Average as proof that his economic agenda is delivering results for American workers and retirees. He credited his Working Families Tax Cuts with putting more money in household budgets and said the U.S. trade deficit continues to shrink as exports hit record levels month after month.

The president also claimed trillions of dollars in new investment attracted by his administration have created more factories, more jobs, and expanded opportunity for Americans.

Trump’s economic record, however, remains deeply contested. His second-term economic policy has centered on lower taxation, deregulation, and large-scale protective tariffs, a combination that produced significant market volatility earlier in his term (see Google). His April 2025 decision to impose a universal 10 percent tariff on nearly all countries and higher rates on many others triggered a stock market crash, and frequent tariff announcements and pauses rattled investor confidence for months.

The Democratic National Committee pushed back on Trump’s economic narrative ahead of the Fourth of July holiday. A DNC statement said working families continue to struggle with sky-high prices for groceries, gas, and healthcare (see democrats.org). Gas prices heading into the holiday weekend are expected to be the second-highest for July 4 on record, and a recent jobs report for June showed growth lagging below economists’ expectations, the DNC statement said.

Inflation in May hit its highest point in years, and consumer pessimism about finding a job reached near-record levels, raising questions about whether the stock market gains Trump highlighted translate into relief for everyday households (see cbsnews.com).

Trump’s post fits a recurring pattern. Zenger analysis of his Truth Social activity shows 23 of his 512 posts over the past 30 days focused on the economy, making it one of his most frequent topics during that period.