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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Senator Ashley Moody is doing a tremendous job representing the incredible people of Florida, a State I love, and WON BIG, in 2016, 2020, and 2024! A fifth generation Floridian, Ashley served as State Attorney General for six years prior to becoming a very distinguished and well respected U.S. Senator. Ashley is working tirelessly to Grow our Economy, Cut Taxes and Regulations, Promote MADE IN THE U.S.A., Champion American Energy DOMINANCE, Help Secure our already Secure Southern Border, Stop Migrant Crime, Murderers, and other Criminals from illegally entering our Country, Strengthen our Great Military/Veterans, and Defend our always under siege Second Amendment. Ashley Moody has my Complete and Total Endorsement — SHE 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 Senator Ashley Moody, with a focus on promoting American energy dominance, could positively influence stock prices for Chevron and Exxon Mobil Corp., as these companies are key players in the U.S. energy sector. The emphasis on economic growth and cutting regulations may also boost investor confidence in the Industrial Select Sector SPDR Fund and the Energy Select Sector SPDR Fund, potentially leading to increased investment in these funds. Overall, Trump’s statement could create a favorable sentiment towards energy and industrial sectors, driving stock market optimism.
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)).