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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 Kevin Lincoln, who is running to represent the incredible people of California’s 13th Congressional District. From bravely fighting for the U.S. Marine Corps, to leading his City as Mayor of Stockton, Kevin has served our Nation with distinction, and will bring that same Fighting Spirit to the U.S. Congress. As your next Congressman, Kevin will work tirelessly to Grow our Economy, Cut Taxes and Regulations, Promote MADE IN THE U.S.A., Champion American Energy DOMINANCE, Keep our now very Secure Border, SECURE, Stop Migrant Crime, Strengthen our Great Military/Veterans, and Protect our always under siege Second Amendment. Kevin Lincoln has my Complete and Total Endorsement — 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 Kevin Lincoln emphasizes pro-business themes like tax cuts, deregulation, and “Made in the U.S.A.” manufacturing, which could boost sentiment toward cyclical and industrial sectors, modestly supporting the Industrial Select Sector SPDR Fund (XLI). His strong focus on “American Energy DOMINANCE” and support for fossil-fuel-friendly policies may improve investor expectations for traditional energy producers, potentially benefiting both the Energy Select Sector SPDR Fund (XLE) and the Vanguard Energy ETF (VDE). However, as this is a single House race endorsement rather than a broad policy action, any stock market reaction is likely to be limited and driven more by perceived momentum in Trump-aligned energy and industrial policy than by immediate fundamentals.
Here are some of the stocks that might be affected:
Industrial Select Sector SPDR Fund ((XLI)),
Energy Select Sector SPDR Fund ((XLE)),
Vanguard Energy ETF ((VDE)).