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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Congressman Addison McDowell is an America First Patriot, who is doing a fantastic job representing North Carolina’s 6th Congressional District! A MAGA Warrior, Addison previously worked for Senator Ted Budd and Congressman Richard Hudson (Two outstanding leaders from the Great State of North Carolina!), prior to becoming a distinguished and Highly Respected Congressman. In Congress, Addison is fighting tirelessly to Champion our Great Farmers and American Agriculture, Cut Taxes and Regulations, Promote MADE IN THE U.S.A., Advance American Energy DOMINANCE, Keep our now very Secure Border, SECURE, Strengthen our Military/Veterans, and Protect our always under siege Second Amendment. Addison McDowell 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 Congressman Addison McDowell, who champions American agriculture and energy dominance, could positively influence stocks like Caterpillar and Deere & Company due to potential policy support for farming and manufacturing. Additionally, Exxon Mobil Corp. and the Energy Select Sector SPDR Fund might see favorable impacts if McDowell’s focus on American energy dominance translates into supportive legislation. The Industrial Select Sector SPDR Fund could also benefit from McDowell’s emphasis on promoting ‘MADE IN THE U.S.A.’ and cutting regulations, potentially boosting industrial growth.
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)).