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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Congressman Chris Smith is a fantastic Representative for the wonderful people of New Jersey’s 4th Congressional District! As a Senior Member of the House Committee on Foreign Affairs, Chris is fighting tirelessly to advance our America First Agenda. He is working hard to Grow our Economy, Create GREAT Jobs, Promote MADE IN THE U.S.A., Champion American Energy DOMINANCE, Help Secure our already Secure Border, Strengthen our Military/Veterans, Defend our always under siege Second Amendment, and Ensure PEACE THROUGH STRENGTH. Chris Smith has my Complete and Total Endorsement for Re-Election — HE WILL NOT 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 Congressman Chris Smith, who supports an ‘America First Agenda’ that includes promoting American energy dominance and strengthening the military, could positively influence stocks related to energy and defense sectors. Companies like Chevron, Exxon Mobil Corp., and Halliburton Company, as well as funds like the Energy Select Sector SPDR Fund and iShares U.S. Aerospace & Defense ETF, may see increased investor interest due to potential policy support for domestic energy production and defense spending. Additionally, the Industrial Select Sector SPDR Fund might benefit from a focus on ‘MADE IN THE U.S.A.’ initiatives, which could boost industrial manufacturing and related sectors.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Exxon Mobil Corp. ((XOM)),
Halliburton Company ((HAL)),
Industrial Select Sector SPDR Fund ((XLI)),
Energy Select Sector SPDR Fund ((XLE)),
iShares U.S. Aerospace & Defense ETF ((ITA)).