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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Congressman John Moolenaar is an incredible Representative for the fantastic people of Michigan’s 2nd Congressional District! As the Chairman of the Select Committee on the CCP, John is fighting tirelessly to put our Country’s Interests, FIRST! He is working hard to Grow our Economy, Cut Taxes and Regulations, Promote MADE IN THE U.S.A., Advance American Energy DOMINANCE, Keep our now very Secure Border, SECURE, Support our Brave Military/Veterans, and Defend our always under siege Second Amendment. John Moolenaar 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 John Moolenaar, highlighting his focus on American energy dominance and economic growth, could positively influence investor sentiment towards energy stocks like Chevron and Exxon Mobil Corp. The emphasis on promoting ‘MADE IN THE U.S.A.’ and cutting regulations may boost the Industrial Select Sector SPDR Fund, as these actions could lead to increased industrial activity. Similarly, the Energy Select Sector SPDR Fund might see a favorable impact due to the focus on energy policies that prioritize American energy production.
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)).