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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 emphasizes a strong stance on American energy dominance and military support, which could positively influence stock prices for companies like Chevron and Exxon Mobil Corp. due to potential policy support for the energy sector. Similarly, Northrop Grumman Corp. and the iShares U.S. Aerospace & Defense ETF might see favorable impacts from promises to strengthen the military and support veterans. The Energy Select Sector SPDR Fund could also benefit from a focus on energy policies that prioritize American energy independence.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Exxon Mobil Corp. ((XOM)),
Northrop Grumman Corp. ((NOC)),
Energy Select Sector SPDR Fund ((XLE)),
iShares U.S. Aerospace & Defense ETF ((ITA)).