The Dow Jones Industrial Average surged to a new all-time high on Thursday, and President Donald Trump wasted no time claiming the moment as further proof that his economic leadership is delivering historic results. Posting triumphantly on Truth Social, he asked when the “fake polls” would finally acknowledge that he is doing “a great job” on the economy.
Dow Soars, Nasdaq Slips — and Trump Leans Into His Economic Narrative
In early November, as U.S. equities briefly cooled after a months-long rally, the 47th president predicted that stocks would keep breaking records even in the wake of a prolonged government shutdown. He repeated then that his administration was powering an American “economic boom.”
On Thursday, the Dow validated that optimism, blasting past the 48,000 mark with strong momentum. The milestone capped a notable rotation out of tech stocks and into other pockets of the market — a shift that added weight to the Dow’s climb. Trump celebrated the moment enthusiastically:
“THE STOCK MARKET JUST HIT AN ALL-TIME HIGH!!! When will the Fake Polls show that I’m doing a great job on the Economy, and much more??? Thank you!”
His remarks followed a series of recent statements portraying himself as the hardest-working president in U.S. history, someone who logged the longest hours and produced unmatched results. Trump has repeatedly claimed credit for halting multiple global conflicts, “saving millions of lives,” and creating “the Greatest Economy in the History of our Country,” while bringing business back to the U.S. at levels he describes as unprecedented.
He also highlighted the demanding medical evaluations he underwent at Walter Reed, saying he achieved perfect scores on cognitive tests that, according to him, most presidents avoid. He paired those assertions with criticism of the New York Times, accusing the paper of biased coverage and suggesting it would “do the country a favor” by shutting down.
Market Rotation Highlights Diverging Performance
While the Dow pushed into record territory, the tech-heavy Nasdaq slipped to a one-week low. Reuters reported that the downturn was tied in part to Oracle’s unexpectedly heavy AI-related spending. Oracle’s stock sold off sharply after the company forecast weaker quarterly results and revealed plans to invest an additional $15 billion annually to compete for large cloud-AI customers. Shares were down roughly 12% by early afternoon.
The S&P 500 and NYSE Composite, meanwhile, held steady in positive territory, reflecting broader market resilience despite volatility within the tech sector.
A Familiar Victory Lap
For Trump, the Dow’s fresh record offers a moment that fits squarely within his long-standing message: the belief that the U.S. economy is flourishing under his leadership, and that he deserves recognition for it. At a time when tech names face headwinds and major firms like Oracle absorb attention for costly AI ambitions, the broader stock market’s strength gives the administration another data point to frame as validation.
