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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“RT @realDonaldTrump THE TRUMP KENNEDY CENTER HONORS will be broadcast tonight, on CBS, and Stream on Paramount+. Tune in at 8 P.M. EST! At the request of the Board, and just about everybody else in America, I am hosting the event. Tell me what you think of my “Master of Ceremony” abilities. If really good, would you like me to leave the Presidency in order to make “hosting” a full time job? We will be honoring true GREATS in the History of Entertainment: Sylvester Stallone, Michael Crawford, KISS, George Strait, and Gloria Gaynor.”
How Will Trump’s Statement Affect the Stock Market?
This latest post has the potential to affect the stock market. That’s because Trump’s post promoting the televised and streamed Kennedy Center Honors could modestly boost short-term viewer interest and advertising value for CBS and Paramount+, marginally benefiting media constituents within both the Vanguard Communication Services ETF (VOX) and the Communication Services Select Sector SPDR Fund (XLC). Any impact is likely to be small and short-lived, as a single event typically does not materially change long-term revenue or valuation for diversified communication-services companies. Market reaction, if any, would depend on actual ratings data and subsequent subscriber or advertising trends rather than the post itself.
Here are some of the stocks that might be affected:
Vanguard Communication Services ETF ((VOX)),
Communication Services Select Sector SPDR Fund ((XLC)).