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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Dan Patrick is a terrific and powerful Lieutenant Governor for the Great State of Texas, a place I truly love. I WON BIG in 2016, 2020, and 2024 (Getting the Highest Number of Votes for any Office in the History of Texas — Such an Honor!). As Texas Chair of our Historic Presidential Campaigns in 2016, 2020, and 2024, Dan has been an incredible friend to our Movement, helping me to WIN BIG in all Primaries and General Elections! Dan’s leadership was pivotal in the passage of the new, fair, and much improved, Congressional Map, that will give the wonderful people of Texas the tremendous opportunity to elect 5 new MAGA Republicans in the 2026 Midterm Elections — A HUGE VICTORY for our America First Agenda. In his next Term, Dan will continue to fight tirelessly alongside of us to Secure our already Secure Border, Stop Migrant Crime and the Flow of Illegal Drugs into our Country, Grow the Economy, Cut Taxes and Regulations, Promote MADE IN THE U.S.A., Restore American Energy DOMINANCE, Champion School Choice, Support our Military/Vets, and Strongly Protect our always under siege Second Amendment. A True Friend to MAGA from the very beginning, Dan Patrick has my Complete and Total Endorsement for Re-Election – HE WILL NEVER 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 Dan Patrick and his emphasis on American energy dominance and economic growth could positively influence investor sentiment towards energy stocks like Chevron and Exxon Mobil Corp. The focus on promoting ‘MADE IN THE U.S.A.’ and reducing regulations may also boost industrial stocks, potentially benefiting funds like the Industrial Select Sector SPDR Fund and the Energy Select Sector SPDR Fund. Overall, the statement may lead to increased investor confidence in sectors tied to energy and manufacturing, potentially driving stock prices higher.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Exxon Mobil Corp. ((XOM)),
Industrial Select Sector SPDR Fund ((XLI)),
Energy Select Sector SPDR Fund ((XLE)).