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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Congressman Kevin Hern is a Tremendous Champion for Oklahoma’s 1st Congressional District! As the Chair of the House Republican Policy Committee, Kevin is doing a fantastic job advancing our AMERICA FIRST Agenda. He is fighting tirelessly to Grow our Economy, Cut Taxes and Regulations, Champion our Great Farmers and American Agriculture, Promote MADE IN THE U.S.A., Ensure American Energy DOMINANCE, Secure our now VERY Secure (Record Setting!) Southern Border, Strengthen our Incredible Military/Veterans, and Protect our always under siege Second Amendment. Kevin Hern 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 Kevin Hern and the emphasis on the ‘America First’ agenda could positively influence stocks related to American manufacturing and energy, such as Caterpillar, Deere & Company, and Exxon Mobil Corp. The focus on promoting ‘MADE IN THE U.S.A.’ and American energy dominance may boost investor confidence in the Industrial Select Sector SPDR Fund and Energy Select Sector SPDR Fund. However, the potential for increased regulation or trade tensions could introduce volatility in the Consumer Discretionary Select Sector SPDR Fund.
Here are some of the stocks that might be affected:
Caterpillar ((CAT)),
Deere & Company ((DE)),
Exxon Mobil Corp. ((XOM)),
Industrial Select Sector SPDR Fund ((XLI)),
Energy Select Sector SPDR Fund ((XLE)),
Consumer Discretionary Select Sector SPDR Fund ((XLY)).