Trump's Approval Rating Is Rising, and That's Bad for Stocks

(Bloomberg) -- Donald Trump has been taking to Twitter to tout his delight over the latest approval ratings. He might want to rethink that relationship.

A daily poll from Rasmussen Reports shows Trump's rating at 49 percent today, which is up from 42 percent on Jan. 22; in that time span, the S&P 500 has fallen about 8 percent. In fact, the rolling 120 day correlation between Rasmussen's measurement of the president's job performance and the price of the S&P 500 Index has been negative during all periods.

While some might conclude that Trump's recent rhetoric is riling up his base while also scaring the markets, it's altogether possible that the relationship is completely coincidental. What is clear is that the president has had a tough time being loved by both his supporters and investors at the same time.

To contact the reporter on this story: Brandon Kochkodin in New York at bkochkodin@bloomberg.net.

To contact the editors responsible for this story: Joe Weisenthal at jweisenthal@bloomberg.net, Arie Shapira, Eric J. Weiner

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