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. MADE IN AMERICA: President Donald Trump launched "Made in America" week on Monday, showcasing products made in all 50 states. Among the companies participating in this initiative are Boise Cascade (BCC), Caterpillar (CAT), Campbell (CPB), and Steinway (LVB). On Thursday, the CEOs of Corning (GLW), Merck (MRK), and Pfizer (PFE) were welcomed to the White House by President Trump to announce collaborations they say have enabled the modernization of pharmaceutical packaging. As a result of the partnership, Corning is making an initial investment of $500M and creating 1,000 new U.S. jobs as the first part of a planned investment of $4B, the company stated. 2. AMAZON: Speaking in the White House on Monday, the President said, "we need to begin cracking down on the predatory online sales of foreign goods." Although Trump did not name any companies, he did refer to the destruction of American brick and mortar retail sales, saying that "online predatory sales" are "killing shoppers and killing shopping centers." Shares of Amazon (AMZN) dropped following his comments. 3. HEALTH CARE BILL: Also on Monday, President Trump tweeted, "Republicans should just REPEAL failing ObamaCare now & work on a new Healthcare Plan that will start from a clean slate. Dems will join in!" Publicly traded companies in the health insurance space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). 4. STEEL TARIFFS: Following a dinner with steel participants last week, Morgan Stanley analyst Evan Kurtz said he is more bullish on second half 2017 steel pricing. The takeaways were that imports are likely to dip significantly in September and October due to traders not wanting to take the risk of being an "import of record" with the threat of tariffs. Further, the analyst said inventories are low, so even with stable demand, the market could get tight, the analyst wrote. Kurtz recommended buying Overweight rated U.S. Steel (X), Steel Dynamics (STLD) and Nucor (NUE). Imposing steel tariffs in the name of national security has been a focus for President Donald Trump since he took office. 5. MEDICARE: On Thursday, The Wall Street Journal reported that hospitals are preparing to fight against a Trump administration proposal that would cut a subsidy which Medicare gives to certain hospitals, including rural and cancer hospitals, to purchase and administer pharmaceuticals to patients in an effort to serve the uninsured. The American Hospital Association and industry executives argue the cut would negatively affect many hospitals eligible for the subsidy as they rely on the payments to assist in financing operations. Publicly traded companies in the hospital space include Community Health (CYH), HCA Holdings (HCA), LifePoint (LPNT), Tenet (THC) and Universal Health (UHS). "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.