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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Trump admin looks to streamline permitting, lower costs to help make home ownership more attainable:”
How Will Trump’s Statement Affect the Stock Market?
This latest post has the potential to affect the stock market. That’s because If investors believe streamlined permitting will lower construction costs and accelerate housing starts, homebuilders like D.R. Horton Inc., Lennar Corporation, NVR Inc. and PulteGroup could see improved growth expectations and higher valuations. At the same time, expectations for increased renovation and building activity could support demand for Home Depot, while broader optimism for housing and construction may lift sector ETFs such as the Consumer Discretionary Select Sector SPDR Fund and the Real Estate Select Sector SPDR Fund.
Here are some of the stocks that might be affected:
D.R. Horton Inc ((DHI)),
Home Depot ((HD)),
Lennar Corporation ((LEN)),
NVR Inc ((NVR)),
Pultegroup ((PHM)),
Consumer Discretionary Select Sector SPDR Fund ((XLY)),
Real Estate Select Sector SPDR Fund ((XLRE)).