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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Senator Mike Rounds is an incredibly strong advocate for the wonderful people of South Dakota, a State I love, and WON BIG, in 2016, 2020, and 2024! An America First Patriot, Mike is fighting tirelessly to Advance the Great Values of the Mount Rushmore State, Champion our Farmers and Ranchers, Strengthen the Economy, Cut Taxes and Regulations, Promote MADE IN THE U.S.A., Ensure American Energy DOMINANCE, Help Secure our already Highly Secure Border, Support our Brave Military, Veterans, and Law Enforcement, and Protect our always under siege Second Amendment. Mike Rounds 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 Senator Mike Rounds highlights key economic and policy areas that could influence market perceptions, particularly in sectors related to agriculture, energy, and defense. Companies like Caterpillar and Deere & Company might see positive sentiment due to their ties to agriculture and infrastructure, while Northrop Grumman Corp. and the iShares U.S. Aerospace & Defense ETF could be impacted by the emphasis on military and defense support. Additionally, the Energy Select Sector SPDR Fund might experience shifts based on the focus on American energy dominance, potentially affecting investor confidence in these sectors.
Here are some of the stocks that might be affected:
Caterpillar ((CAT)),
Deere & Company ((DE)),
Northrop Grumman Corp. ((NOC)),
Industrial Select Sector SPDR Fund ((XLI)),
Energy Select Sector SPDR Fund ((XLE)),
iShares U.S. Aerospace & Defense ETF ((ITA)).