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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Great news for North Carolina! Michael Whatley, one of the most capable executives in our Country, who successfully ran, along with Lara Trump, the Republican National Committee, has launched his run for the United States Senate! Michael is fantastic at everything he does, and was certainly a STAR as Co-Chair of the RNC where, in the Presidential Election, we won every Swing State, the Popular Vote, and the Electoral College by a landslide. He also helped us win North Carolina six times, including Primaries, in 2016, 2020, and 2024! Michael is a wonderful man, has ALWAYS delivered for North Carolina, especially after the terrible floods, where the Biden Administration did nothing, and will continue doing so as your next U.S. Senator, where he will fight tirelessly to Grow our Economy, Cut Taxes and Regulations, Promote MADE IN THE U.S.A., Champion American Energy DOMINANCE, Help Secure our already Secure Southern Border, Stop Migrant Crime, Murderers, and other Criminals from illegally entering our Country, Strengthen our Military/Veterans, and Protect our always under siege Second Amendment. Michael Whatley 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 Michael Whatley for the U.S. Senate may positively influence the stock prices of Chevron and Exxon Mobil Corp., as Whatley’s platform includes promoting American energy dominance, which could lead to favorable policies for the energy sector. Similarly, Lockheed Martin and the iShares U.S. Aerospace & Defense ETF might see a boost due to Whatley’s emphasis on strengthening the military and veterans, suggesting potential increases in defense spending. The Energy Select Sector SPDR Fund could also benefit from Whatley’s focus on cutting taxes and regulations, potentially enhancing profitability for energy companies.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Exxon Mobil Corp. ((XOM)),
Lockheed Martin ((LMT)),
Energy Select Sector SPDR Fund ((XLE)),
iShares U.S. Aerospace & Defense ETF ((ITA)).