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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“For all of those people voting in New Jersey and Virginia for Governor, Attorney General, or any other position, please remember this: A REPUBLICAN VOTE MEANS A DRASTIC DROP IN ENERGY PRICES AND ENERGY COSTS, A DROP LIKE YOU’VE NEVER SEEN BEFORE! — A DEMOCRAT VOTE MEANS A DOUBLING, AND EVEN TRIPLING, OF YOUR ENERGY BILLS AND PRICES, TRADITIONALLY THE HIGHEST COST OF AN AMERICAN CITIZEN! So, if you vote Republican, your Energy Costs are going to go down, tremendously! If you vote Democrat, your Energy Costs are going to go “through the roof,” making Energy virtually unaffordable for you and your family to pay. Also, remember, that if you don’t go to the Polls and VOTE, it’s the same thing as voting for a Democrat. SO, GO TO THE POLLS AND CUT YOUR ENERGY COSTS IN HALF!”
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 statement could potentially lead to increased volatility in the stock market, particularly affecting energy-related stocks. If investors believe that Republican victories could lead to lower energy prices, stocks like Chevron, Duke Energy, and Exxon Mobil Corp. might see a decline due to anticipated reduced revenue. Conversely, energy ETFs such as the Energy Select Sector SPDR Fund, VanEck Oil Services ETF, and Vanguard Energy ETF could experience fluctuations as investors react to the perceived impact on the energy sector.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Duke Energy ((DUK)),
Exxon Mobil Corp. ((XOM)),
Energy Select Sector SPDR Fund ((XLE)),
VanEck Oil Services ETF ((OIH)),
Vanguard Energy ETF ((VDE)).