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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“If affordability is you issue, VOTE REPUBLICAN! Energy costs, as and example, are plummeting – Getting close to 2 Dollar a gallon gasoline. When energy goes down, everything else follows, and it has!!! President DJT”
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 statement on plummeting energy costs could lead to increased investor confidence in energy stocks, potentially boosting the stock prices of companies like Chevron, Exxon Mobil Corp., and Phillips 66. As energy costs decrease, the profitability of these companies might be perceived as improving, which could positively impact ETFs such as the Energy Select Sector SPDR Fund, VanEck Oil Services ETF, and Vanguard Energy ETF. However, the actual impact would depend on various market factors, including the sustainability of low energy prices and broader economic conditions.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Exxon Mobil Corp. ((XOM)),
Phillips 66 (PSX) ((PSX)),
Energy Select Sector SPDR Fund ((XLE)),
VanEck Oil Services ETF ((OIH)),
Vanguard Energy ETF ((VDE)).