President Trump's approval rating has stabilized in the low 40s—RCP average at 41.5% approve as of mid-April—following a ceasefire in the U.S.-Iran war on April 7 that halted a sharper decline triggered by escalating gas prices, with 65% of voters blaming the administration per recent Quinnipiac polling. Economic disapproval hit new lows amid inflation and fuel costs, overshadowing earlier 2026 peaks near 44-45% in January polls, while strong Republican support offsets weakness among independents and youth. Traders eye midterm election dynamics, including summer primaries in swing states and potential executive actions on immigration or Supreme Court nominations, as catalysts that could lift ratings through year-end if economic indicators improve or foreign policy stabilizes further.