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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Congressman Max Miller is a fantastic Champion for the Great People of Ohio’s 1st Congressional District! Max bravely served our Country in the U.S. Marine Corps and, during my First Administration, worked hard to advance our AMERICA FIRST Agenda. In Congress, Max continues to fight tirelessly to Help Secure our now VERY Secure (Record Setting!) Southern Border, Stop Migrant Crime, Murderers, and other Criminals from illegally entering our Country, Strengthen our Great Military/Veterans, Cut Taxes and Regulations, Support our Incredible Farmers, Champion American Energy DOMINANCE, and Defend our always under siege Second Amendment. Max Miller has my Complete and Total Endorsement — HE 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 Congressman Max Miller, who champions American energy dominance, could positively influence energy stocks like Chevron, Exxon Mobil Corp., Energy Select Sector SPDR Fund, and Vanguard Energy ETF, as it aligns with policies favoring domestic energy production. Additionally, the emphasis on strengthening the military might benefit defense-related stocks such as iShares U.S. Aerospace & Defense ETF. Overall, the statement may boost investor confidence in sectors related to energy and defense due to the potential for favorable policy support.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Exxon Mobil Corp. ((XOM)),
Energy Select Sector SPDR Fund ((XLE)),
Vanguard Energy ETF ((VDE)),
iShares U.S. Aerospace & Defense ETF ((ITA)).