Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“JACK CIATTARELLI IS A WINNER FOR NEW JERSEY! Mikie Sherrill is the exact opposite, a stone cold loser, who will drive your Energy costs through the roof, just like the Democrats are doing all over the Country but, even more so, because she has no understanding of what she is doing. Put simply, Jack Ciattarelli will bring your Energy costs down to a new low, and Mikie Sherrill will do the exact opposite — Energy costs under her will go up by levels never seen before. Mikie has no clue as to what she is doing. NEW JERSEY, VOTE FOR JACK CIATTARELLI — 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 Jack Ciattarelli and criticism of Mikie Sherrill could potentially influence investor sentiment towards energy stocks, particularly those with significant operations in New Jersey. If investors believe Ciattarelli’s policies will lower energy costs, stocks like Chevron, Duke Energy, and Exxon Mobil Corp. might see positive movement due to anticipated favorable business conditions. Conversely, if Sherrill’s policies are perceived as detrimental, it could negatively impact these stocks and energy-focused ETFs like the Energy Select Sector SPDR Fund, VanEck Oil Services ETF, and Vanguard Energy ETF.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Duke Energy ((DUK)),
Exxon Mobil Corp. ((XOM)),
Energy Select Sector SPDR Fund ((XLE)),
VanEck Oil Services ETF ((OIH)),
Vanguard Energy ETF ((VDE)).