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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“RT @PressSec We know that Americans are still hurting from the 40-year high inflation caused by Joe Biden and the Democrats, but President Trump is making significant progress to fix it, and he won’t stop working until he solves it: ✅The latest jobs report showed the American economy remains strong with 119,000 new jobs added – more than double expectations. In particular, construction jobs surged by 19,000 in the month of September, the largest monthly gain in a year. ✅Inflation remains under control and real wages are on pace to increase roughly $1,200 for the average worker. This is a complete reversal of the failed Biden era where we saw inflation skyrocket to 9%, causing private sector workers to see their real wages decline by approximately $3,000 dollars. ✅Since President Trump took office, all employment gains have gone to native-born workers rather than foreigners like we saw under Biden. Trust in Trump.”
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 highlights a strong job market and controlled inflation, which could positively impact the stock prices of homebuilders like D.R. Horton Inc, Lennar Corporation, and Pultegroup due to the surge in construction jobs. Additionally, the Industrial Select Sector SPDR Fund may benefit from increased industrial activity, while the Consumer Discretionary Select Sector SPDR Fund could see gains from higher consumer spending driven by rising real wages. Overall, the optimistic economic outlook presented by Trump may boost investor confidence in these sectors.
Here are some of the stocks that might be affected:
D.R. Horton Inc ((DHI)),
Lennar Corporation ((LEN)),
Pultegroup ((PHM)),
Industrial Select Sector SPDR Fund ((XLI)),
Consumer Discretionary Select Sector SPDR Fund ((XLY)).