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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Congressman Jeff Van Drew is a “MAGA” Warrior for the incredible people of New Jersey’s 2nd Congressional District! As the Chairman of the House Judiciary Subcommittee on Oversight, Jeff is doing a tremendous job advancing our America First Agenda. He is working tirelessly to Grow our Economy, Cut Taxes and Regulations, Help Secure our already Secure Border, Stop Migrant Crime, Murderers, and other Criminals from illegally entering our Country, Strengthen our Military/Veterans, Champion American Energy DOMINANCE, and Defend our always under siege Second Amendment. Jeff Van Drew is a very good friend, fighter, and WINNER, and 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 Jeff Van Drew and his emphasis on championing American energy dominance could positively impact energy stocks such as Chevron, Exxon Mobil Corp., Halliburton Company, Energy Select Sector SPDR Fund, and Vanguard Energy ETF, as investors may anticipate favorable policies for the energy sector. Additionally, the focus on strengthening the military and veterans could boost the iShares U.S. Aerospace & Defense ETF, as increased defense spending may be expected. Overall, Trump’s support for policies that align with the America First Agenda may lead to investor optimism in these sectors.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Exxon Mobil Corp. ((XOM)),
Halliburton Company ((HAL)),
Energy Select Sector SPDR Fund ((XLE)),
Vanguard Energy ETF ((VDE)),
iShares U.S. Aerospace & Defense ETF ((ITA)).