Week in review: How Trump's policies moved stocks - InvestingChannel

Week in review: How Trump’s policies moved stocks

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. TWITTER, FACEBOOK: U.S. President Donald Trump told Reuters in an interview earlier this week that it is “very dangerous” for social media firms like Twitter (TWTR) and Facebook (FB) to ban accounts on their services. Trump previously criticized the social media sector on August 18, alleging with no evidence in a series of tweets that unnamed companies were “totally discriminating against Republican/Conservative voices,” adding that “too many voices are being destroyed, some good & some bad,” the report noted. 2. COHEN, MANAFORT: On Tuesday, President Donald Trump’s former personal attorney Michael Cohen pleaded guilty to campaign-finance violations and other charges, saying he made payments to influence the 2016 election at the direction of a candidate for federal office. Questioned by the federal judge, Cohen said he paid sums of $130,000 and $150,000 each to two women who claimed they had affairs with Trump, acting at his boss’ request. Almost at the same time, Trump’s former campaign chairman Paul Manafort was found guilty on eight counts of financial crimes. Jurors were unable to reach a verdict on 10 other charges. Unlike during previous moments of peril for President Trump, investors were unfazed by the news, with the Dow dipping just slightly and the S&P 500 flirting with an all-time high following the news. 3. NAFTA DEAL: The Trump administration is planning to announce in the upcoming days that it has reached an agreement with Mexico in its renegotiation of NAFTA, Politico reported. White House officials are expected to announce they have reached a “handshake” deal with Mexico that would make way for Canada to rejoin negotiations, according to the publication. The U.S. has been conducting one-on-one negations with Mexico since June, when negotiations between the U.S., Mexico and Canada fell apart. 4. TRADE TALKS WITH CHINA: U.S. President Donald Trump does not expect much progress from trade talks with China this week in Washington, he told Reuters. Trump said he had “no time frame” for ending the trade dispute with China, which threatens to impose tariffs on virtually all goods traded between the economies. A Chinese delegation led by Commerce Vice Minister Wang Shouwen is in Washington for talks with a U.S. team led by Treasury Undersecretary for International Affairs David Malpass. This comes as both the U.S. and China impose 25% on an additional $16B worth of each other’s goods amid an escalating trade war. During Alibaba’s (BABA) earnings call this week, vice chairman Joseph Tsai said that the recent tariffs imposed by the U.S. and China should not be a major detriment to the e-commerce giant’s business or the Chinese economy at large, according to Business Insider. 5. NORTH KOREA: President Donald Trump tweeted on Friday, “I have asked Secretary of State Mike Pompeo not to go to North Korea, at this time, because I feel we are not making sufficient progress with respect to the denuclearization of the Korean Peninsula……Additionally, because of our much tougher Trading stance with China, I do not believe they are helping with the process of denuclearization as they once were (despite the UN Sanctions which are in place)……Secretary Pompeo looks forward to going to North Korea in the near future, most likely after our Trading relationship with China is resolved. In the meantime I would like to send my warmest regards and respect to Chairman Kim. I look forward to seeing him soon!” “Week in Review” is The Fly’s weekly recap of its recurring series of “Trump Effect” exclusive stories.