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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Congresswoman Monica De La Cruz is doing an incredible job representing the wonderful people of Texas’ 15th Congressional District! A very successful Small Businesswoman, Monica knows the AMERICA FIRST Policies necessary to Create GREAT Jobs, Unleash Innovation, and Restore American Energy DOMINANCE. She is fighting tirelessly to Cut Taxes and Regulations, Secure our now VERY Secure (Record Setting!) Southern Border, Champion our Farmers and American Agriculture, Support our Brave Military/Veterans, and Protect our always under siege Second Amendment. Monica De La Cruz has my Complete and Total Endorsement for Re-Election — SHE 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 Congresswoman Monica De La Cruz, who advocates for American energy dominance and reduced regulations, could positively influence investor sentiment towards energy stocks like Chevron and Exxon Mobil Corp. This endorsement may lead to increased confidence in the Energy Select Sector SPDR Fund, as it aligns with the pro-energy policies highlighted in the statement. Additionally, the Industrial Select Sector SPDR Fund could benefit from the potential for job creation and innovation in the energy sector, as emphasized by Trump’s support.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Exxon Mobil Corp. ((XOM)),
Industrial Select Sector SPDR Fund ((XLI)),
Energy Select Sector SPDR Fund ((XLE)).