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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Congresswoman Jen Kiggans is a Tremendous Advocate for the Great People of Virginia’s 2nd Congressional District! A former Navy helicopter pilot, Jen knows how to Defend our Country, Support our Brave Military/Veterans, and Ensure PEACE THROUGH STRENGTH. In Congress, Jen is working hard to Secure the Border, Grow the Economy, Restore American Energy Independence, and Protect our always under siege Second Amendment. Jen Kiggans has my Complete and Total Endorsement — SHE 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 Congresswoman Jen Kiggans, highlighting her focus on defense and energy independence, could positively influence the stock prices of defense contractors like General Dynamics, Lockheed Martin, and RTX Corporation, as well as ETFs like SPDR S&P Aerospace & Defense ETF and iShares U.S. Aerospace & Defense ETF. Her emphasis on restoring American energy independence may also boost investor confidence in the Energy Select Sector SPDR Fund. Overall, Trump’s support could lead to increased investor interest in sectors related to defense and energy.
Here are some of the stocks that might be affected:
General Dynamics ((GD)),
Lockheed Martin ((LMT)),
Rtx Corporation ((RTX)),
Energy Select Sector SPDR Fund ((XLE)),
SPDR S&P Aerospace & Defense ETF ((XAR)),
iShares U.S. Aerospace & Defense ETF ((ITA)).