Trump’s second-term approval rating has settled in the mid-to-high 30s percent in recent national polls, with net figures around -18 to -22, reflecting broad disapproval driven primarily by the administration’s military engagement with Iran. Voters across parties have viewed the conflict as a misstep, contributing to elevated energy prices and persistent inflation concerns that have weighed on economic assessments. These pressures coincide with the approach of the November 2026 midterm elections, where historical patterns link presidential standing to congressional outcomes and potential shifts in legislative priorities. Additional influences include executive actions on voting procedures and ongoing fiscal debates, all of which traders monitor for signs of further erosion or stabilization before year-end.