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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Congressman Brian Babin, D.D.S, is an incredible Representative of Texas’ 36th Congressional District! As the Highly Respected Chairman of the House Science Committee, Brian is fighting hard to Grow our Economy, Cut Taxes and Regulations, Champion American Energy DOMINANCE, Promote MADE IN THE U.S.A., Keep our now very Secure Border, SECURE, Strongly Support Law Enforcement and our Military, Deliver Quality Care to our Brave Veterans, and Protect our always under siege Second Amendment. Brian Babin has my Complete and Total Endorsement for Re-Election — HE WILL NEVER 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 Brian Babin, who champions American energy dominance and economic growth, could positively influence investor sentiment towards energy stocks like Chevron and Exxon Mobil Corp. The emphasis on promoting ‘Made in the U.S.A.’ and cutting regulations aligns with the interests of the Industrial Select Sector SPDR Fund, potentially boosting its appeal. Furthermore, the focus on energy and economic policies may enhance the attractiveness of the Energy Select Sector SPDR Fund, as investors anticipate favorable conditions for the energy sector.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Exxon Mobil Corp. ((XOM)),
Industrial Select Sector SPDR Fund ((XLI)),
Energy Select Sector SPDR Fund ((XLE)).