Trump’s Endorsement of Ciattarelli: Potential Impact on Energy Stocks

President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:

“The Orthodox Jewish communities all across America voted in very big numbers for me in our Historic 2024 Presidential Campaign. Lakewood, New Jersey, was one of our biggest Wins anywhere in the Country with more than 90% of the Vote. On November 4th, the eyes of the Country are on New Jersey again. I need ALL of my supporters in the Orthodox community in Lakewood and its surrounding towns to vote in HUGE numbers for Jack Ciattarelli. Jack will be a GREAT Governor, and has my Complete and Total Endorsement — He will never let you down! Jack needs every single Vote in the community, including all the Yeshiva students who turned out to vote for me last year. Your Votes in this Election will save New Jersey, a State that is near and dear to my heart. Jack will cut your taxes, and tremendously reduce your out of control and ridiculous Energy costs — whereas his opponent will double, triple, and even quadruple your Energy, and other costs. You will rue the day that you voted for her. VOTE FOR JACK CIATTARELLI ON TUESDAY, NOVEMBER 4TH!”

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 Jack Ciattarelli and his emphasis on reducing energy costs could lead to increased investor confidence in energy stocks, potentially boosting the Energy Select Sector SPDR Fund, VanEck Oil Services ETF, and Vanguard Energy ETF. If Ciattarelli’s policies are perceived as favorable to the energy sector, these ETFs might see a positive impact. However, uncertainty about the election outcome could also introduce volatility in these stocks.

Here are some of the stocks that might be affected:
Energy Select Sector SPDR Fund ((XLE)),
VanEck Oil Services ETF ((OIH)),
Vanguard Energy ETF ((VDE)).