QUICK SPARK: Trump Celebrates Stock Rally Fueled by His Own Party’s Midterm Defeat

Erica Kollmann Nov 4, 2026 4 hours ago

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Trump claims record highs after Democrats’ midterm sweep, but no major index set a record; the Dow surged 2.9% while oil fell 7%.

President Donald Trump took to Truth Social on Wednesday to declare the "Stock Market just hit another Record High," less than a day after Democrats swept the House and the Senate in Tuesday’s midterm election.

“Stock Market just hit another Record High — 91 Days in just a short period of time — Less than two years. Your 401(k)s are through the roof. Record Setting All! President DONALD J. TRUMP,” he wrote.

The Dow Jones, tracked by the State Street SPDR Dow Jones Industrial Average ETF (NYSE:DIA) rallied 1,500 points and headed for its best day in 18 months as the decisive Democratic victory, along with Trump’s acceptance of the results, removed political uncertainty hanging over Wall Street.

None of the major indexes hit a record, though.

The Dow came closest in point terms but still fell well short. Its intraday high was 53,370.64, while its 52-week range tops out at 54,744.33, which leaves Wednesday’s peak roughly 2.5% below the record.

The Invesco QQQ Trust (NASDAQ:QQQ), which tracks the Nasdaq-100, peaked at a day high of $701.45 on Wednesday, about 8% below its 52-week high of $762.86, set on Oct. 6.

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares were down 24.2% at $4.51 as of 3:30 p.m. ET Wednesday, a new 52-week low, according to Benzinga Pro market data

Democrats’ Sweep Lifts Dow 2.9% and Knocks Oil 7%

Trump’s post followed a sharp political shift. A Wednesday report said Democrats’ sweep of Congress lifted hyperscalers and retailers, while sinking oil and data-center builders and pulling yields lower. The Dow rallied 2.9% and oil prices fell by 7% after the midterms.

Trump Links 401(k) Gains to Investor Optimism After Midterms

Trump tied his 401(k) claim to the same post-midterm mood. The same report framed the market move around sector shifts, highlighting gains in hyperscalers and retailers alongside declines in oil and data-center builders, with yields moving lower in the aftermath of Democrats’ sweep of Congress.

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