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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“In just 6 months, I cut costs, especially Energy and Taxes, Tremendously. Elizabeth “Pocahontas” Warren, on CNBC, said costs have gone up. She is just angry that I blew up her terrible Presidential Campaign. Call her out!!!”
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 about cutting energy and tax costs could lead to increased investor confidence in energy companies like Chevron, Conocophillips, and Exxon Mobil Corp., potentially boosting their stock prices. However, his criticism of Elizabeth Warren might introduce political uncertainty, affecting broader market sentiment, including funds like the Financial Select Sector SPDR Fund and Energy Select Sector SPDR Fund. Investors may react to perceived political stability or instability, impacting market dynamics.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Conocophillips ((COP)),
Exxon Mobil Corp. ((XOM)),
Financial Select Sector SPDR Fund ((XLF)),
Energy Select Sector SPDR Fund ((XLE)).