President Trump Delivers an Address to the Nation, Jul. 16, 2026

I guess it depends on what side you take. The outrage from the first 2 years of Trump's term (real or not) alongside the continued war and higher gas prices, etc, should lead to a significant enough portion of republicans losing their seats to flip congress (in theory anyway).

That would mean a stalemate in Washington and markets love a stalemate. If things keep going the way they are, Trumps approval rating will be lower upon leaving office this term than his first (which was just about the lowest in history....I was actually surprised to see it was that bad relative to other presidents), which further tarnishes the Republican party. You can expect to see moderate Republican candidates distance themselves from his policies when in tight races.

Then again if he pulls a rabbit out of a hat......or creates a huge problem only to come in and "solve it", that could change public opinion in his favor (damn I hate the maliabilty of public opinion).

Whatever the case....Trump seems to have less of an impact on the markets currently than the semi/memory unwind currently underway. That is taking the /nq for a ride and dragging most of the high-flying (read, up 300% in a month) darlings of the tech space down by 30-40%.

Man hiw did you know the new work session will make new low