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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“The Federal Government was preparing to “surge” San Francisco, California, on Saturday, but friends of mine who live in the area called last night to ask me not to go forward with the surge in that the Mayor, Daniel Lurie, was making substantial progress. I spoke to Mayor Lurie last night and he asked, very nicely, that I give him a chance to see if he can turn it around. I told him I think he is making a mistake, because we can do it much faster, and remove the criminals that the Law does not permit him to remove. I told him, “It’s an easier process if we do it, faster, stronger, and safer but, let’s see how you do?” The people of San Francisco have come together on fighting Crime, especially since we began to take charge of that very nasty subject. Great people like Jensen Huang, Marc Benioff, and others have called saying that the future of San Francisco is great. They want to give it a “shot.” Therefore, we will not surge San Francisco on Saturday. Stay tuned!”
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 decision to hold off on a federal intervention in San Francisco could positively influence investor sentiment towards companies like Nvidia Corporation and Salesforce.com, as their leaders are optimistic about the city’s future. This optimism may lead to increased confidence in the tech sector, potentially benefiting ETFs like Invesco QQQ Trust, Technology Select Sector SPDR Fund, and Vanguard Information Technology ETF. The perception of a stable and improving environment in San Francisco might encourage investment in these tech-heavy funds.
Here are some of the stocks that might be affected:
Nvidia Corporation ((NVDA)),
Salesforce.com ((CRM)),
Invesco QQQ Trust ((QQQ)),
Technology Select Sector SPDR Fund ((XLK)),
Vanguard Information Technology ETF ((VGT)).