
Trouble signs emerge for Trump in DDHQ/The Hill polling average
The averages show that Trump is currently underwater after starting his term in January with a net positive approval rating. DDHQ/The Hill's average had his approval rating above 50 percent for the first days of his presidency. By late April, his average approval rating had fallen under 45 percent.
The averages suggest Trump could fall deeper underwater as he reaches the 100-day mark next week.
'The Democrats should be cautiously optimistic,' said Scott Tranter, the director of data science for DDHQ. 'They're having a very good batting practice, but we haven't reached the first inning of the game yet.
'The Republicans, they're not having the greatest start,' he added. 'It's not as bad as the first quarter was, in terms of this favorability, approval rating from the first term. So he's doing better than the first term. And there's quite a bit to play out in over the next 18 months.'
DDHQ is maintaining six polling averages measuring Trump's approval rating and favorability rating, Vice President Vance's favorability rating, Elon Musk's favorability rating, the generic congressional ballot and whether voters feel the country is on the right or wrong track.
As a whole, the numbers point to some troubling signs for Trump and the GOP as an early indicator of what to expect for next year's midterm elections.
Trump was almost never above water during his first term in office, but he seemed to be initially in his second term.
That hasn't lasted.
The average on Wednesday showed Trump with a disapproval rating of 51.7 percent, the highest of his second term so far.
On personal favorability, Trump also started out above water in DDHQ's average but has mostly been in the net negative since early February. The average shows 53 percent view Trump unfavorably and 44.5 percent view him favorably, both also setting the mark for his second term so far.
The most prominent aspect likely driving the decline may be the economy, an issue that has been one of the president's greatest strengths since his first run for president in 2016. But recent polling has shown more voters viewing Trump's handling of the economy unfavorably than favorably, or breaking even at best, as he has carried out his wide-ranging tariff policy.
A Reuters/Ipsos poll released Wednesday found Trump's approval on the economy at 37 percent, the lowest rating of either of his terms. The poll came after significant economic turmoil, particularly in the stock and bond markets, before Trump announced a 90-day pause on what would have been his steepest tariffs yet.
Several polls have shown that Trump's trade policy and use of tariffs is unpopular outside of his Republican base and many expect they could harm the economy.
The Hill's Chris Stirewalt noted in his column last week that most presidents experience a 'honeymoon phase' that lasts for several months before political reality sets in. But he argued that Trump's position is less fluid than most of his predecessors because he's been in the Oval Office before.
Presidents have historically had weaker approval ratings in their second terms than their first.
'So, it's a pretty straightforward story. The second-term president who had developed a strong brand on economic performance undertakes a program of economic pain he promises will deliver long-term gain,' Stirewalt wrote. 'If the neighborhood pizza place your family had been visiting every week started putting kale in the crust, you'd expect to see some customer dissatisfaction.'
Tranter said he would have expected Trump's approval rating to be lower than it is given how chaotically the market has reacted to Trump's moves on the economy, owing to continued solid support among Republicans.
'The markets probably had a more violent reaction than his approval rating has on some of these policies,' he said. 'So what that tells me is, the electorate, specifically his core base, is giving him some breathing room to see how this all plays out.'
In Stirewalt's average, Trump's approval stands at 43.6 percent and disapproval at 51.6 percent, a net approval of –8 points. That's down about 1 point from last week and 2 points from last month.
Meanwhile, other polling on those around Trump may also raise concern.
The favorability rating for Musk, whom Democrats have sought to home in on as a target in building backlash to the administration, has a worse net favorability rating than Trump, with 53.6 percent viewing him unfavorably and 40.3 percent viewing him favorably.
Tranter said Musk is 'equally as toxic' to Democratic voters as Trump, which gives them another 'punching bag' to raise money and enthuse the base. He said if their unfavorable rating gets above the roughly 53 percent it's at now, then it could be more harmful to the GOP's prospects for the midterms.
'Then I think it gets real interesting because that means that he's really pissing off independents, which are the swing voters that the Republicans need to keep some of these House seats,' he said.
Vance is in a slightly better spot but still underwater by about 9 points.
2024 Election Coverage
A plurality in the average briefly said the country was heading in the right direction in mid-February, but a majority has said it's heading in the wrong direction since early last month. For the past two decades, a majority of voters have almost without interruption said the country is on the wrong track, through multiple presidential administrations from different parties.
Republicans enjoyed an advantage in the generic congressional ballot, a broad indicator of how the next congressional elections may go, for the first two months of Trump's term, but Democrats have taken a slight lead since then. But Tranter urged caution about taking too much away for what this means for the midterms
'If you're playing a baseball game, this is [Democrats] having a really good batting practice right before the game starts,' he said.
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9 minutes ago
- CNN
Trump administration moves to terminate a form of humanitarian relief for Nicaraguans and Hondurans in the US
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Yahoo
12 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq fall as Trump amps up tariff threats with deadline looming
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Online spending is expected to surge to $23.8 billion across US retailers during Amazon's four-day event, according to an Adobe Analytics forecast. Amazon extended the sales period to four days from two days. Reuters reported that sales from July 8 to 11 are projected to rise 28.4% compared with the same period last year. Online sales hit $14.2 billion during the two-day Amazon shopping event last year. "This is equivalent to two Black Fridays," Adobe noted in the report. Walmart (WMT) and Target (TGT), which are holding competing sales events, saw their shares drop marginally premarket. Read more here. Yahoo Finance's Brooke DiPalma reports: Read more here. Earnings: No notable earnings releases. Economic data: No notable economic releases. 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Tesla (TSLA) stock took a hit on Monday, falling 6% in premarket trading after CEO Elon Musk's plans to launch a new US political party were announced. Metals had a rough start to the week, with copper (HG=F) and other industrial metals extending losses after President Trump injected fresh uncertainty into his trade agenda with a warning to impose a 10% tariff on any country that supports what he called BRICS "anti-American" policies. Trump posted on Truth Social saying: Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter! Trump's threat caused metals fall on Monday. Bloomberg News reports Read more here. Tesla (TSLA) shares are getting run over right out of the gate post-holiday weekend. The stock is down 7% premarket as president Trump and Elon Musk return to public battle. The general vibe from those I have chatted with is that Musk creating his own political party is the last thing Tesla shareholders want to see. Where is the board of directors here to get this guy under control? However, lost in the sauce today is that the new tax and spending bill signed into law by Trump ends the EV tax credit on Sept. 30. That's further bad news for Tesla, argues William Blair analyst Jed Dorsheimer. "The elimination of the corporate average fuel economy (CAFE) fines requires a reset in expectations," Dorsheimer wrote. "While the $7,500 tax credit is likely to affect demand, the combination of a demand headwind and over $2 billion in profit from regulatory credits at risk may be too much for investors to bear. Unlike the EV tax credit, we expect the reduction in regulatory credit revenue to result in a direct hit to profitability, prompting yet another across-the-board reset to Street models." 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This marks the cartel's fourth consecutive monthly increase and was larger than anticipated. "Saturday's announcement to accelerate supply hikes suggests that the strategic shift to normalizing spare capacity and market share, supporting internal cohesion, and disciplining US shale supply is continuing," Goldman Sachs analysts Daan Struyven and his team noted on Sunday. Struyven and his team anticipate OPEC will increase production yet again in September, and maintained their price forecast with Brent averaging $59 in the fourth quarter of 2025 and $56 in 2026. Tesla (TSLA) stock slid on Monday, falling 7% as CEO Elon Musk and President Trump's feud erupted again and as investors grew concerned over the loss of electric vehicle tax credits from Trump's budget bill. Reuters reported that short sellers of the stock were set to make $1.4 billion after the stock slump, according to data analytics firm Ortex. Over the weekend, Musk wrote on X that he was forming a new political party, the America Party. Trump responded on social media by saying the Tesla CEO had gone "completely 'off the rails.'" Yahoo Finance's Pras Subramanian reports: Read more here. Citi lifted its price target for Nvidia stock (NVDA) on Monday, citing the expanding AI market, though shares of the AI chipmaker fell 0.5% in early trading. Yahoo Finance's Francisco Velasquez reports: Read more here. Stocks opened lower amid renewed trade uncertainty after President Trump extended a tariff pause but issued new threats toward countries aligning with "Anti-American policies." The Dow Jones Industrial Average (^DJI) fell below the flat line. The S&P 500 (^GSPC) retreated 0.3% from its record high. The tech-heavy Nasdaq Composite (^IXIC) dropped 0.5%, and Tesla (TSLA) shares sank as CEO Elon Musk announced a new political party. 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Reuters reported that sales from July 8 to 11 are projected to rise 28.4% compared with the same period last year. Online sales hit $14.2 billion during the two-day Amazon shopping event last year. "This is equivalent to two Black Fridays," Adobe noted in the report. Walmart (WMT) and Target (TGT), which are holding competing sales events, saw their shares drop marginally premarket. Read more here. Yahoo Finance's Brooke DiPalma reports: Read more here. Earnings: No notable earnings releases. Economic data: No notable economic releases. Here are some of the biggest stories you may have missed over the weekend and early this morning: Trump warns of extra 10% tariff for 'anti-American' BRICS Markets await clarity as Trump tariff deadline looms Tesla stock sinks as Musk's 'America Party' worries investors US consumers to cut summer spending on tariff worries: Poll Trump is already making the next Fed chair's job harder Amazon Prime Day set to lift US online sales to $23.8B: Adobe Trump slams Musk's plan for rival political party How China's Xiaomi succeeded where Apple failed Here are some top stocks trending on Yahoo Finance in premarket trading: Wolfspeed: (WOLF) Shares in semiconductor company Wolfspeed surged over 20% before the bell on Monday, after it filed an unexpected Chapter 11 bankruptcy last month. While bankruptcy usually signals financial distress, investors reacted positively to the filing. Tesla (TSLA) stock took a hit on Monday, falling 6% in premarket trading after CEO Elon Musk's plans to launch a new US political party were announced. Metals had a rough start to the week, with copper (HG=F) and other industrial metals extending losses after President Trump injected fresh uncertainty into his trade agenda with a warning to impose a 10% tariff on any country that supports what he called BRICS "anti-American" policies. Trump posted on Truth Social saying: Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter! Trump's threat caused metals fall on Monday. Bloomberg News reports Read more here. Tesla (TSLA) shares are getting run over right out of the gate post-holiday weekend. The stock is down 7% premarket as president Trump and Elon Musk return to public battle. The general vibe from those I have chatted with is that Musk creating his own political party is the last thing Tesla shareholders want to see. Where is the board of directors here to get this guy under control? However, lost in the sauce today is that the new tax and spending bill signed into law by Trump ends the EV tax credit on Sept. 30. That's further bad news for Tesla, argues William Blair analyst Jed Dorsheimer. "The elimination of the corporate average fuel economy (CAFE) fines requires a reset in expectations," Dorsheimer wrote. "While the $7,500 tax credit is likely to affect demand, the combination of a demand headwind and over $2 billion in profit from regulatory credits at risk may be too much for investors to bear. Unlike the EV tax credit, we expect the reduction in regulatory credit revenue to result in a direct hit to profitability, prompting yet another across-the-board reset to Street models." Tesla is our "stock of the day" on Yahoo Finance's Opening Bid this morning. Tune in around 9:40 am ET here to get some fire analysis! Bloomberg reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 minutes ago
- Yahoo
Saks Is Ceding Ground to Luxury Rivals After Buying Neiman Marcus
(Bloomberg) -- The $2.7 billion acquisition of Neiman Marcus by Saks Fifth Avenue's owner last year was supposed to create a luxury powerhouse. Instead, both department stores are losing customers and sales to competitors including Bloomingdale's and Nordstrom. Are Tourists Ruining Europe? How Locals Are Pushing Back Foreign Buyers Swoop on Cape Town Homes, Pricing Out Locals Trump's Gilded Design Style May Be Gaudy. But Don't Call it 'Rococo.' Massachusetts to Follow NYC in Making Landlords Pay Broker Fees In California, Pro-Housing 'Abundance' Fans Rewrite an Environmental Landmark Sales at Saks Fifth Avenue fell 16% during the quarter that ended in June from a year earlier, according to Bloomberg Second Measure, which tracks debit and credit purchases. During the same period, combined sales at Neiman Marcus and Bergdorf Goodman sank 10%. The slowdown accelerated over the three months, with June showing the biggest drop at the three retailers. Meanwhile, sales at Bloomingdale's, owned by Macy's Inc., and Nordstrom Inc. both rose more than 10% during the same quarter, according to Second Measure. The declining revenue figures show the magnitude of the challenges facing Saks Global, as the combination of the department store chains is called. The closely held company is trying to reverse the sales decline and just took on more debt in part to pay vendors $275 million in overdue bills. Bloomberg Second Measure data may not fully capture the sales trends at these retailers because it analyzes more debit than credit card purchases. Shoppers at Neiman Marcus, Bergdorf Goodman and Saks customers often use credit cards more frequently than middle-income shoppers at other outlets. That means the sales slowdown in the Bloomberg Second Measure data could be sharper than it really is. And the sales increase could appear stronger at Bloomingdale's and Nordstrom, where more shoppers use debit cards. But the Bloomberg Second Measure data is still helpful to show the trajectory of revenue trends. In June, sales fell 28% at Saks and 26% at Neiman Marcus and Bergdorf Goodman. At Bloomingdale's, sales rose 13%. After Saks borrowed $2.2 billion in December to finance its acquisition of longtime rival Neiman Marcus, executives had planned to spend this year working to combine the two iconic chains, cutting costs and streamlining technology and supply-chain operations to position the new juggernaut to take an even greater share of luxury spending in the US. But the company has also been contending with some vendors who are slowing or holding back their shipments, worried about not getting paid. Investors, concerned about Saks' ability to pay its bills, have sent the price of its bonds plummeting in recent months. The challenges aren't all homegrown. The broader luxury sector is undergoing a slowdown, too. That's hit sales at LVMH Moët Hennessy Louis Vuitton SE and Gucci owner Kering SA — brands that sell large quantities of products at Saks Global. Saks Global has seen green shoots recently, including an uptick in vendor shipments after the company secured new financing. It expects 'this trend to continue as we execute on our plan to begin paying outstanding balances in July,' a Saks Global spokesperson said in a statement. 'As inventory flow approaches normalized levels, we are confident that we can deliver for our customers.' Also, Saks' recently launched storefront on is starting to show a positive response, the spokesperson said. Client Complaints Even if Saks repays overdue bills and persuades enough vendors to restart or increase their shipments of merchandise, the company still has another uphill battle: win back clients who have shifted their shopping to rivals in recent months or pulled back on spending altogether because of economic jitters. Complaints about receiving orders in damaged boxes, charging for returns and rejected or delayed refunds from Saks and Neiman Marcus have increased since the beginning of the year, said Bloomberg Intelligence analyst Mary Ross Gilbert, who has looked through online reviews. That points to how Saks' efforts to conserve cash and cut costs are starting to undermine what's supposed to be a high-end shopping experience, she said. 'Bankruptcy risk remains given what appears to be a multitude of execution problems impacting customer experience,' Ross Gilbert said. 'It's just so much easier to shop elsewhere.' Although online reviews about retailers in general skew negative, those raised about Bloomingdale's tend to focus on late package deliveries and are more benign than customers' frustration with Saks Global, Ross Gilbert said. The Saks spokesperson said the company's fulfillment centers have implemented new processes that 'reduce the time for processing returns within 7 to 10 days, while ensuring customers receive high-quality merchandise in future orders.' Saks Fifth Avenue has had steep revenue declines since early 2023, with sales falling an average of nearly 21% each quarter versus a year earlier, according to Bloomberg Second Measure. At Neiman Marcus and Bergdorf Goodman, revenue trends have been choppier. Sales were up in the final quarter of 2024 and again in the first quarter of 2025 versus a year earlier, but then turned negative in the most recent one. Meanwhile, Bloomingdale's and Nordstrom have increased year-over-year sales every quarter during the last year. Holiday Season The pressure on Saks is particularly acute now because it's filling its warehouses and stores with products to sell during the crucial holiday season from November through January. If vendors hold back on shipments to Saks now – because they don't want to risk not being paid or being paid late – that would leave the department stores without enough luxury goods on shelves during the holiday shopping season, which would likely accelerate shoppers' shift to Bloomingdale's and Nordstrom. Saks is using $600 million in fresh financing to start to make $275 million in overdue payments to brands this month and, separately, is starting to pay them for new products they've shipped since the beginning of the year. 'We're in the window where, I think, investors and brands are looking to see how the proposed game plan is actually going to play out in real life,' said Jeff Abrams, founder and chief executive officer of Los Angeles apparel company Rails, which sells its products at Saks. 'This next month or two will be very telling.' Rails has continued to ship merchandise to Saks despite being owed a couple million dollars because Abrams sees an opportunity to expand the availability of Rails products at the department store as other brands scale back, wary of not getting paid. But Abrams is also continuing to open up more Rails stores across the US in part to be less reliant on selling its products at third-party retailers. Rails has started to receive some recent payments from Saks, via its financial intermediary, called a factor, which guarantees orders from retailers. Vendors, particularly smaller ones that have less financial room to maneuver, are between a rock and a hard place with Saks. To ship or not to ship, that's the question they're asking themselves. They don't want to risk more unpaid bills but, at the same time, Rails and others want Saks – which needs more inventory – to succeed. 'If Saks can stabilize and thrive,' Abrams said, 'that benefits us and many other vendors as well.' --With assistance from Matt Townsend. (Updates with additional context starting in fifth paragraph.) SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too For Brazil's Criminals, Coffee Beans Are the Target Sperm Freezing Is a New Hot Market for Startups Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate China's Homegrown Jewelry Superstar ©2025 Bloomberg L.P.