Trump appears to take credit for stock market rally day after multiple Democratic midterm wins

WASHINGTON (Gray News) - President Donald Trump took to social media on Wednesday to praise the sudden rise in stock prices a day after the midterm elections.

Trump posted to Truth Social, “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.”

U.S. stocks went soaring Wednesday following the GOP losing sole control of Washington in the midterm elections.

The Dow Jones Industrial Average was up 1,519 points, or 2.9%, with the Nasdaq composite up 1.9% as of Wednesday afternoon.

Stocks are said to generally do well in the months following any midterm U.S. election, regardless of who wins, but this year’s midterms were harsh to the Republican Party, with multiple GOP states and government positions flipping to the Democrats.

The Democratic Party appears set to take control of both the Senate and the House of Representatives, with experts noting Wall Street may have gotten a preferred political scenario, hence the jump in prices seen Wednesday.

Trump continues to retain executive authority over key areas such as defense, foreign policy and, in some instances, trade.

The president said in an interview with Fox News that he would work with Democrats.

“Congratulations to the Democrats,” Trump was quoted as saying in the interview. “I think the Democrats did a good job. They fought hard. They’ve been fighting me for a long time. This fight’s been going on for ages.”

Trump added when asked about working with Democrats: “I would do that. I think the Democrats want to work with me.”