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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Jack Ciattarelli, the wonderful New Jersey Gubernatorial Candidate that is doing very well in the Polls against a very Fake and Corrupt Mikie Sherrill, will bring Energy prices down in New Jersey by record amounts. He calls me constantly, wanting assurances that I will use the Power of Common Sense on helping New Jersey with their Energy bills, which are going up by record amounts. Jack is a man who will bring costs and prices down, rapidly, but in particular, Energy costs, because he knows that everything else will follow. Mikie Sherrill, on the contrary, has Energy policies and concepts that will double and triple prices in New Jersey. Unlike Jack, there have been no calls to Washington saying, “What do we do with these rapidly rising Electric and other costs?” I have brought Energy way down, with Gasoline soon to hit $2, with everything else following! If Mikie, who was essentially thrown out of her school for cheating, and wasn’t even allowed to walk through the Graduating Class, is ever involved with Government, Energy prices will soar at a record level! Unlike Jack Ciattarelli, nobody from her group is calling the White House in order to take advantage of the record drops in overall Energy costs. Jack Ciattarelli is a good man, who understands business, and who will bring down Energy, and other costs, by 50%, and even more. The unusually named Mikie, perhaps her only asset, will drive Energy costs up, like no Governor in History. She will be a DISASTER for New Jersey — VOTE 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’s energy policies could lead to increased volatility in energy stocks, as investors may react to potential policy changes in New Jersey. Stocks like Chevron, Duke Energy, and Exxon Mobil Corp. might experience fluctuations based on perceived impacts on energy prices and regulatory environments. ETFs such as the Energy Select Sector SPDR Fund, VanEck Oil Services ETF, and Vanguard Energy ETF could also be affected by shifts in investor sentiment regarding the energy sector’s future in the region.
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)).