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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Congressman Michael Baumgartner is an incredible Representative of Washington’s 5th Congressional District! Michael served as the Treasurer of Spokane County for six years prior to becoming a distinguished and Highly Respected Congressman. In Congress, he is working hard to Champion our Amazing Farmers and Ranchers, Cut Taxes and Regulations, Advance American Energy DOMINANCE, Promote MADE IN THE U.S.A., Keep our now very Secure Border, SECURE, Stop Migrant Crime, Strengthen our Military/Veterans, and Protect our always under siege Second Amendment. Michael Baumgartner has my Complete and Total Endorsement for Re-Election — HE WILL NOT LET YOU DOWN!”
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 endorsement of Congressman Michael Baumgartner, who champions agricultural and energy sectors, could positively influence stocks like Archer-Daniels-Midland Company and Deere & Company due to their ties to farming and ranching. Exxon Mobil Corp. and the Energy Select Sector SPDR Fund might see a boost as Baumgartner supports advancing American energy dominance. Additionally, the iShares U.S. Aerospace & Defense ETF could benefit from Baumgartner’s focus on strengthening the military and veterans.
Here are some of the stocks that might be affected:
Archer-Daniels-Midland Company ((ADM)),
Deere & Company ((DE)),
Exxon Mobil Corp. ((XOM)),
Industrial Select Sector SPDR Fund ((XLI)),
Energy Select Sector SPDR Fund ((XLE)),
iShares U.S. Aerospace & Defense ETF ((ITA)).