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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“It is my Great Honor to endorse America First Patriot, Eric Flores, who is running to represent the wonderful people of Texas’ 34th Congressional District. A Brave U.S. Army Veteran, and former Criminal Prosecutor, Eric knows the Wisdom and Courage it takes to Ensure LAW AND ORDER, Strongly Support our Great Heroes in Law Enforcement, and Champion our Military and Veterans. In Congress, Eric will fight tirelessly to Grow our Economy, Cut Taxes and Regulations, Promote MADE IN THE U.S.A., Advance American Energy DOMINANCE, Keep our now very Secure Border, SECURE, Stop Migrant Crime, and Protect our always under siege Second Amendment. Eric Flores has my Complete and Total Endorsement to be the next Congressman from Texas’ 34th Congressional District — 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 Trump’s endorsement of a pro–“American Energy DOMINANCE” candidate could modestly boost sentiment toward U.S. oil majors like Chevron, ConocoPhillips and Exxon Mobil, as investors may perceive a slightly higher probability of a more favorable regulatory and drilling environment if such candidates gain influence. This rhetoric also supports a positive bias toward the broader energy sector, potentially benefiting the Energy Select Sector SPDR Fund (XLE) as it is heavily weighted to these integrated and upstream energy names. The Industrial Select Sector SPDR Fund (XLI) could see a smaller, indirect benefit if markets extrapolate pro-growth and pro-deregulation policy signals that might support industrial activity and energy demand, though any impact is likely to be limited and short-lived absent concrete policy changes.
Here are some of the stocks that might be affected:
Chevron ((CVX)),
Conocophillips ((COP)),
Exxon Mobil Corp. ((XOM)),
Industrial Select Sector SPDR Fund ((XLI)),
Energy Select Sector SPDR Fund ((XLE)).