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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Iran’s New Regime President, much less Radicalized and far more intelligent than his predecessors, has just asked the United States of America for a CEASEFIRE! We will consider when Hormuz Strait is open, free, and clear. Until then, we are blasting Iran into oblivion or, as they say, back to the Stone Ages!!! 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 Trump’s threat to “blast Iran into oblivion” while tying any ceasefire to the Strait of Hormuz staying open could spike oil volatility, boosting Chevron, Exxon Mobil Corp. and broad energy plays like the Energy Select Sector SPDR Fund as traders price in supply risks and higher crude prices. At the same time, the prospect of extended military action and rising defense budgets may support Lockheed Martin, Northrop Grumman Corp. and RTX Corporation, as well as defense-focused ETFs like the iShares U.S. Aerospace & Defense ETF, though overall market sentiment could be pressured by heightened geopolitical uncertainty.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Exxon Mobil Corp. ((XOM)),
Lockheed Martin ((LMT)),
Northrop Grumman Corp. ((NOC)),
Rtx Corporation ((RTX)),
Energy Select Sector SPDR Fund ((XLE)),
iShares U.S. Aerospace & Defense ETF ((ITA)).