Trump Trumpets Dow's Record High, Sidesteps S&P 500

When it comes to judging the health of the stock market and new all-time records being set, most investors track the Dow Jones Industrial Average, S&P 500 and Nasdaq 100. President Donald Trump showed which of these metrics he prefers with a social media post on Thursday.

Dow Jones Industrial Hits New All-Time Highs

The S&P 500, which is tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), has set several records in 2025 and hit a new all-time high in October.

With SPY shares trading down on Thursday and trading off of the all-time high of $689.70 set on Oct. 29, investors were surprised to see the president post about stock market records.

"Stock market just hit an all-time high!!! When will the Fake Polls show that I am doing a great job on the Economy, and much more??? Thank you!" Trump posted on his Truth Social account.

The SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA), which tracks the Dow Jones Industrial Average, hit a new all-time high of $487.44 on Thursday.

While the Dow Jones Industrial Average ETF is trading higher, both the SPY and the Invesco QQQ Trust (NASDAQ:QQQ), which tracks the Nasdaq 100 are trading lower on the day and trade near all-time highs but did not hit highs Thursday.

For many years, the Dow Jones Industrial Average was the key indicator of market health. The index's price-weighted strategy and inclusion of only 30 U.S. stocks have made the index less relevant in recent years.

The S&P 500 was introduced in the 1950s and also became the index tracked by the first-ever ETF. The index includes 500 U.S. companies and is weighted by market capitalization.

The Nasdaq 100 is 100 of the largest non-financial stocks on the Nasdaq and often shows the health of the technology sector and high-growth stocks.

Accounts that shared Trump's post on X saw many comments about the stock market not being at an all-time high and questions about why the president was using the Dow Jones Index.

"The DOW is 30 companies. No one under 80 thinks the DJIA is the stock market," one user on X said.

Read Also: Trump Says The Economy Is ‘A+++++’ — Voters, However, Are Giving It A Straight-Up F

Trump's Economy Grade

The president has often used the stock market as a way to show the strength of the economy, despite concerns among many Americans about inflation, rising consumer prices, and higher healthcare costs.

Trump recently said that inflation is essentially gone and gave himself a strong grade on the economy.

Trump was recently asked what grade he would give the economy. The president told Politico that he would give the economy an “A+” and followed his response by saying he would give it an “A+++++.”

Voters disagree.

A new Morning Consult poll shows Trump with a 45% approval rating, the same rating he has received for three straight weeks.

Trump’s disapproval rating in the poll stands at 52%, the same rating for three straight weeks.

This means Trump has a net approval rating of -7, with more voters disapproving of him than approving of him. A 45% approval rating and a -7 net approval would equal an “F” under the school grading system, where a passing grade is 60%.

The Morning Consult poll showed that 71% of voters say Trump should make the reduction of consumer prices a “top priority.” Only 46% say Trump is making reducing consumer prices a top priority, a failing grade.

Trump has labeled affordability as a Democrat hoax, but polls show otherwise, with consumer prices labeled as a top priority.

Voters have soured on Trump’s handling of trade policy, with voters now two percentage points less likely to approve than disapprove of the president’s trade policies. This comes after that score had been improving in recent weeks.

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Image created using artificial intelligence via Midjourney.