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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“America First Patriot Mike Rogers is running for U.S. Senate in the Great State of Michigan, a State I love and WON BIG! From the U.S. Army to Congress, Mike has served our Nation with distinction, and will bring that same Fighting Spirit to the U.S. Senate. As your next Senator, Mike will work tirelessly to Grow our Economy, Cut Taxes and Regulations, Promote MADE IN THE U.S.A., Unleash American Energy DOMINANCE by keeping the price of Gasoline, Oil, and all forms of Energy VERY LOW (CHEAP!), Help Secure our now VERY Secure (Record Setting!) Southern Border, Support our Incredible Military/Veterans, and Defend our always under siege Second Amendment. Mike Rogers has my Complete and Total Endorsement — 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 Mike Rogers for U.S. Senate, with a focus on energy dominance and low energy prices, could positively influence the stock prices of Chevron and Exxon Mobil Corp., as these companies may benefit from policies promoting American energy production. The Industrial Select Sector SPDR Fund and Energy Select Sector SPDR Fund might see increased investor interest due to potential regulatory cuts and economic growth initiatives. Similarly, the Vanguard Energy ETF could experience a boost as investors anticipate a favorable environment for energy stocks under Rogers’ proposed policies.
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)),
Vanguard Energy ETF ((VDE)).