Fact Check: Is Trump's claim of 74 stock market record highs true?

WASHINGTON, DC: President Donald Trump has been highlighting his economic record on social media and at events, including a rally in Las Vegas on Wednesday, August 5.

As the November 3 midterm elections approach, many voters remain concerned about the economy and the high cost of living. Trump recently claimed that the US stock market "just keeps setting records." Let's fact-check the claim.

Claim: Trump says stocks hit 74 record highs under his administration

During his recent Las Vegas speech on August 5, Trump highlighted the stock market's performance and claimed, "74 all-time highs in a short time since we've been back. We had the greatest economy in the history of our country in my first term; this is going to blow it away."

He added, "It already is, I think, but this is blowing it away. 74, the highest stock market in history yesterday, went up almost a thousand points."

Trump appeared to use the market's performance as evidence of economic strength under his administration.

The stock market is often seen as a measure of investor confidence, and claims about record highs can influence how people view the economy.

The claim gained attention because Trump has repeatedly pointed to stock market gains while promoting his economic record.

However, questions remain about the authenticity of the figure and the timeframe used to count the reported record highs.

Fact Check: Misleading

The claim is misleading. Trump’s statement does not explain how the record highs were counted. According to CFRA Research, the S&P 500 reached 64 record highs since Trump started his second term in January 2025.

The number reached 74 only when counting from the 2024 presidential election. By using two different time periods, the claim gives an inaccurate impression of the market’s performance during Trump’s return to office.

The US stock market recently hit another record high and stayed close to those levels. Strong company earnings helped push the market higher, with S&P 500 companies reporting major profit growth.

Companies were expected to see their strongest quarterly profit growth since the second quarter of 2021.

Investors also responded positively to lower oil prices and hopes for a possible deal to reopen the Strait of Hormuz, an important route for global oil shipments.

However, uncertainty over the US conflict with Iran continues to affect markets and cause price swings.