The energy sector surged the day after Donald Trump’s 2024 presidential victory, with the Energy Select Sector SPDR Fund (XLE), representing energy stocks in the S&P 500, climbing nearly 4%. This rally reflects market optimism for fossil fuel investments under Trump’s anticipated pro-oil and gas policies.
In contrast, renewable energy companies faced declines, with U.S. solar giant First Solar dropping over 10%. These market reactions hint that Trump’s second term will prioritize traditional energy sectors, potentially limiting…Trump's Pro-Oil Stance Signals Policy Shifts in Energy Sector
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