The stock market showed gains during Donald Trump's presidency, and some economic indicators were positive, but the overall economic picture was mixed with significant challenges and risks.
Mostly True
“DONALD TRUMPS ECONOMY IS FANTASTIC, STOCK MARKET IS UP“
Stock Market Under the Trump Administration - U.S. Bank
Source: usbank.com
At a glance
Verified September 4, 2025Key Evidence
U.S. Bank confirms an 8% rise in the S&P 500 during Trump's second term.
usbank.comusbank.comStock Market Under the Trump Administration
Reuters reports real earnings growth outpacing inflation in 2023.
reuters.comreuters.comTracking Trump’s economy
The Atlantic and TIME document tariff-related economic disruptions despite stock market resilience.
theatlantic.comtheatlantic.comThe Mystery of the Strong Economy Has Been Solved
time.comtime.comWhy Stocks Keeps Rising—Despite Trump’s Tariff Chaos
The reporting
What the Evidence Shows
According to U.S. Bank, the S&P 500 index increased nearly 8% since the start of Trump's second term, indicating a rising stock market during his administration. This supports the claim that the stock market was up.usbank.comusbank.comStock Market Under the Trump Administration
Reuters notes that real earnings began to rise faster than inflation in 2023, suggesting some improvement in consumer purchasing power, which can be interpreted as a positive economic sign.reuters.comreuters.comTracking Trump’s economy
However, The Atlantic and TIME highlight significant economic turmoil related to Trump's tariff policies, including initial stock market plunges and bond market stress. Despite this, the stock market did not collapse, showing resilience but also underlying instability.theatlantic.comtheatlantic.comThe Mystery of the Strong Economy Has Been Solved
time.comtime.comWhy Stocks Keeps Rising—Despite Trump’s Tariff Chaos
PBS News points out that while Trump achieved some of his trade policy goals, these came with risks to economic growth due to higher tariffs and global tensions.pbs.orgpbs.orgTrump is getting the world economy he wants — but the risk to growth could spoil...
Newsweek reports ongoing negative news about the economy and jobs data revisions in 2025, indicating that not all economic indicators were favorable.newsweek.comnewsweek.comDonald Trump Gets Even More Bad News on US Economy
Chicago Booth Review emphasizes that much of the strong economy was actually under Biden's administration, complicating attribution solely to Trump.chicagobooth.educhicagobooth.eduThe Economy Has Been Great Under Biden. That’s Why Trump Won
In summary, while the stock market was generally up during Trump's presidency and some economic indicators improved, there were also significant economic challenges and risks. Thus, describing Trump's economy as simply "fantastic" is an oversimplification that overlooks important nuances.
Primary trail
Verified Sources7
Open source