Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Trump and his administration with this weekly recap compiled by The Fly: 1. INFRASTRUCTURE: In his State of the Union address on Tuesday, President Donald Trump highlighted his plan to rebuild the country’s “crumbling” infrastructure, challenging the Congress to approve a $1.5T plan. Publicly traded companies that could benefit from spending on infrastructure include Aecom (ACM), CB&I (CBI), Caterpillar (CAT), Eagle Materials (EXP), Fluor (FLR), Granite Construction (GVA), Jacobs Engineering (JEC), Martin Marietta (MLM), Quanta Services (PWR), U.S. Concrete (USCR) and Vulcan Materials (VMC). 2. TRADE POLICY: As expected, President Trump also discussed trade policy on Tuesday night, but did not go into detail on trade with Asia or NAFTA renegotiation. Donald Trump claimed athat “the era of (U.S.) economic surrender is totally over,” calling for “fair” and “reciprocal” deals. The President also applauded carmakers Toyota (TM) and Mazda for announcing new production plants in the U.S., and suggested that his recently announced tax cuts could spur inward investment. 3. DEFENSE: Additionally, President Trump asked Congress to abandon a spending mechanism that has capped defense spending since 2013. “Around the world, we face rogue regimes, terrorist groups, and rivals like China and Russia that challenge our interests, our economy, and our values. In confronting these dangers, we know that weakness is the surest path to conflict, and unmatched power is the surest means of our defense. (…) I am asking the Congress to end the dangerous defense sequester and fully fund our great military,” Trump said. Sequestration put into effect caps on both domestic and military spending after the failure of a special panel to reach an agreement to tackle the deficit between 2011 and 2013. Publicly traded companies in the defense space include BAE Systems (BAESY), Boeing (BA), General Dynamics (GD), Lockheed Martin (LMT), Northrop Grumman (NOC), Raytheon (RTN) and United Technologies (UTX). 4. PHARMA: Pharmaceutical stocks were under pressure on Wednesday following President Donald Trump’s State of the Union address, where he said drug prices were one of his “greatest priorities.” The President said it was “very, very unfair” that the U.S. pays more than many other countries for prescription drugs, while promising that “prices will come down substantially. Watch.” The damage spread across the sector, with Merck (MRK), Amgen (AMGN), AbbVie (ABBV), Mylan (MYL), Gilead Sciences (GILD) and Bristol-Myers (BMY) among those hit the hardest. 5. CFPB: The Trump administration has removed the enforcement powers of the Consumer Financial Protection Bureau office that specializes in pursuing cases against financial firms for breaking discrimination laws, according to a report by The Washington Post on Thursday. Publicly traded companies in bank space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). “Week in Review” is The Fly’s weekly recap of its recurring series of “Trump Effect” exclusive stories.
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