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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Vivek Ramaswamy is running for Governor of the Great State of Ohio, a place I love and WON BIG, THREE TIMES, in 2016, 2020, and 2024! I know Vivek well, competed against him, and he is something SPECIAL. He is Young, Strong, and Smart! Vivek is also a very good person, who truly loves our Country. As your next Governor, Vivek will fight tirelessly to Grow the Economy, Cut Taxes and Regulations, Promote MADE IN THE U.S.A., Champion American Energy DOMINANCE, Keep our now very Secure Border, SECURE, Stop Migrant Crime, Strengthen our Military/Veterans, Ensure LAW AND ORDER, Advance Election Integrity, and Protect our always under siege Second Amendment. Vivek Ramaswamy will be a GREAT Governor of Ohio, and has my Complete and Total Endorsement – 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 Vivek Ramaswamy for Governor of Ohio, with a focus on promoting American energy dominance, could positively influence investor sentiment towards energy companies like Chevron, Exxon Mobil Corp., and Occidental Petroleum Corp. The emphasis on energy policies may also lead to increased interest in sector-specific ETFs such as the Industrial Select Sector SPDR Fund and the Energy Select Sector SPDR Fund. This endorsement suggests potential policy support for the energy sector, which could drive stock prices higher for these companies and funds.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Exxon Mobil Corp. ((XOM)),
Occidental Petroleum Corp. ((OXY)),
Industrial Select Sector SPDR Fund ((XLI)),
Energy Select Sector SPDR Fund ((XLE)).