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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“I can’t believe ABC Fake News gave Jimmy Kimmel his job back. The White House was told by ABC that his Show was cancelled! Something happened between then and now because his audience is GONE, and his “talent” was never there. Why would they want someone back who does so poorly, who’s not funny, and who puts the Network in jeopardy by playing 99% positive Democrat GARBAGE. He is yet another arm of the DNC and, to the best of my knowledge, that would be a major Illegal Campaign Contribution. I think we’re going to test ABC out on this. Let’s see how we do. Last time I went after them, they gave me $16 Million Dollars. This one sounds even more lucrative. A true bunch of losers! Let Jimmy Kimmel rot in his bad Ratings.”
How Will Trump’s Statement Affect the Stock Market?
This latest post has the potential to affect the stock market. That’s because Donald Trump’s criticism of ABC and Jimmy Kimmel could lead to increased volatility in the stock prices of the Walt Disney Company, which owns ABC, as investors react to potential reputational risks and advertiser concerns. This sentiment may also impact broader communication sector ETFs like the Vanguard Communication Services ETF and the Communication Services Select Sector SPDR Fund, as they have exposure to Disney and similar media companies. The market’s response will depend on the perceived credibility of Trump’s claims and any subsequent actions by Disney or advertisers.
Here are some of the stocks that might be affected:
Walt Disney Company ((DIS)),
Vanguard Communication Services ETF ((VOX)),
Communication Services Select Sector SPDR Fund ((XLC)).