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. FLORIDA SHOOTING: Twitter (TWTR) accounts suspected of having links to Russia released hundreds of posts regarding the gun control debate just one hour after news broke about the mass shooting at Marjory Stoneman Douglas High School in Parkland, Florida, according to a report by The New York Times on Tuesday. The accounts, which used hashtags including #guncontrolnow, #gunreformnow and #Parklandshooting, had previously focused on the investigation by special counsel Robert Meuller into Russian meddling in the 2016 presidential election. The same day, President Donald Trump recommended that bump stocks be banned, according to CNBC. Trump signed a memorandum recommending that Attorney General Jeff Sessions propose regulations that would declare that bump stocks, devices that let semi-automatic weapons fire hundreds of rounds per minute, are illegal because they effectively turn legal semi-automatic weapons into outlawed machine guns, the report added. Publicly traded gun manufacturers include Smith & Wesson parent American Outdoor Brands Corporation (AOBC) and Sturm Ruger & Company (RGR). 2. U.S. STEEL: Last week, the Department of Commerce recommended imposing heavy tariffs or quotas on foreign producers of steel and aluminum in the interest of national security as defined by section 232, following a trade investigation on imports. President Donald Trump will have to respond by April 11 for steel and April 19 for aluminum. Commenting on the news earlier this week, Morgan Stanley analyst Piyush Sood told investors that he sees a tariff plus quota scenario as the most likely and U.S. Steel (X) as a key beneficiary from higher prices and demand from the energy sector. All flat rolled producers - including Steel Dynamics (STLD), Nucor (NUE), and AK Steel (AKS) - would benefit from the ensuing tightness, but U.S. Steel would be the biggest beneficiary of higher pricing, he contended. Not as bullish, a peer at the European arm of Credit Suisse cautioned that the situation is more complex than it initially seems. Credit Suisse analyst Michael Shillaker told investors that there is likely to be retaliatory action from other nations, export markets could become log-jammed with steel and the outcome may not in fact be as desired in the mid-term. 3. HEALTH INSURANCE: On Wednesday, The New York Times reported that the Trump administration has proposed new rules that would make it easier for consumers to purchase less expensive health insurance policies that do not comply with coverage requirements of the Affordable Care Act. The proposal looks to extend the time limit for "short-term, limited duration insurance" to 364 days which currently cannot last over three months under current rules. Publicly traded companies in the space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.