TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“THE UNITED STATES GOVERNMENT’S TRUMP GOLD CARD IS HERE TODAY! A direct path to Citizenship for all qualified and vetted people. SO EXCITING! Our Great American Companies can finally keep their invaluable Talent. Live Site opens in 30 minutes!”
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 announcement of a ‘Trump Gold Card’ offering a direct path to citizenship for qualified individuals could positively impact the stock market, particularly technology companies like Apple Inc, Alphabet Inc. Class A, and Microsoft. By facilitating the retention of skilled foreign talent, these companies may benefit from a more stable and innovative workforce, potentially driving up their stock prices. Additionally, technology-focused ETFs such as Invesco QQQ Trust, Technology Select Sector SPDR Fund, and Vanguard Information Technology ETF could see increased investor interest as the sector’s growth prospects improve.
Here are some of the stocks that might be affected:
Apple Inc ((AAPL)),
Alphabet Inc. Class A ((GOOGL)),
Microsoft ((MSFT)),
Invesco QQQ Trust ((QQQ)),
Technology Select Sector SPDR Fund ((XLK)),
Vanguard Information Technology ETF ((VGT)).