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 Donald Trump and his administration with this weekly recap compiled by The Fly:
1. CANNABIS STOCKS: Several marijuana stocks, including Aurora Cannabis (ACB), Canopy Growth (CGC), CannTrust Holdings (CNTTF), Cronos Group (CRON), General Cannabis (CANN), India Globalization Capital (IGC) and Tilray (TLRY), were on the rise on Thursday after Attorney General Jeff Sessions submitted his resignation at the request of President Trump. Sessions has been vehemently against legalizing marijuana and was seen by many as the only thing deterring legalization on a federal level. On Wednesday, Canaccord analyst Bobby Burleson had pointed out in a research note that midterms delivered several wins for the U.S. cannabis industry, including the passage of three state ballot measures on legalization, key gubernatorial victories by pro-cannabis candidates, and the retaking of the House by Democrats.
2. CHINA TRADE TALKS: U.S. companies have said they are mitigating the impacts of escalating tariffs with China through price increases or changes to their supply chains but have warned the picture could worsen next year, the Wall Street Journal reported on Monday. Timber giant Weyerhaeuser (WY) said log exports to China fell after the country imposed retaliatory 5% tariffs, railroad operator Union Pacific (UNP) said the season's typical grain-shipment increase had not materialized and Caterpillar (CAT) said the company faces higher raw-material costs, according to The Journal. Some companies are trying to turn tariffs to their advantage like Costco (COST), which is pitching its customers products such as nuts and pork as their prices have dropped as exports have slowed in the face of tariffs. Meanwhile, Boeing (BA) said it is optimistic of a speedy resolution to the trade dispute between the U.S. and China and is urging productive dialogue between the two countries, according to Reuters, citing Rick Anderson, Boeing VP of Northeast Asia sales. China previously said it would place a 25% tariff on certain U.S. aircraft, which would have impacted some older Boeing narrow-body models, but later dropped them from its tariff list.
3. ANTITRUST LAWS: President Trump is "looking at" whether Amazon (AMZN), Facebook (FB), and Google (GOOG, GOOGL) are violating antitrust laws, he stated in an interview with Axios aired on HBO. Trump says the $5B fine against Google from the European Union made him consider pursuing regulation. Trump has previously called the three companies a "very antitrust situation" but did not comment on breaking them up.
4. TRUMP SPONSORED AD: Comcast's (CMCSA; CMCSK) NBC removed a controversial television ad on immigration that was endorsed by Trump but called "racist" by CNN (T), Reuters reported on Monday. The primetime commercial, paid for by Donald J. Trump for President, ran during this past weekend’s "Sunday Night Football" game and linked Luis Bracamontes, an undocumented immigrant convicted of killing two sheriff's deputies in California in 2014, to the caravan of immigrants fleeing Central America, the report noted. "After further review we recognize the insensitive nature of the ad and have decided to cease airing it across our properties as soon as possible," a spokesperson for NBC Universal said in an emailed statement. Later in the week, Facebook also pulled Trump's controversial immigrant ad from paid distribution for violating its advertising policy on "sensational content" after Fox News (FOXA) and NBC pulled the ad, according to Bloomberg.