Week in review: How Trump's policies moved stocks - Sunday, July 2

Week In Review: How Trump's Policies Moved Stocks - Sunday, July 2

By Patrice Fusillo of The Energy Report

Sunday, July 2, 2017 6:41 AM EDT

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. Amazon / Washington Post: President Trump took aim at two of Jeff Bezos' properties, tweeting that the "#AmazonWashingtonPost, sometimes referred to as the guardian of Amazon not paying internet taxes (which they should) is FAKE NEWS!" The tweet followed a report published in the Post that said that a framed copy of a purported Time magazine cover featuring Trump, which was hung up in at least five of the President's golf clubs, is a fake and Time magazine has asked the Trump Organization to remove the phony cover from the walls where it was on display.

2. 'HELL-BENT' ON TARIFFS: During a "tense" meeting held on Monday with a number of top White House officials, President Trump made it clear he is "hell-bent" on imposing tariffs on steel, to likely be followed by other imports, said Axios' Mike Allen and Jonathan Swan. Penalties could eventually extend to other imports such as aluminum, semiconductors, paper, and home appliances. The President is leaning towards imposing tariffs despite opposition from "nearly all" his Cabinet, the report added. Stocks that could be impacted by U.S. trade actions involving steel include U.S. Steel (X), AK Steel (AKS), Nucor (NUE) and Steel Dynamics (STLD).

3. REPEAL THEN REPLACE?: Some conservative Republicans proposed that the party should quickly repeal the "Obamacare" Affordable Care Act and save working on a replacement until a later date, and that suggestion was supported by President Trump in a tweet, though prior proposals to "repeal then replace" were seen as politically unworkable. Publicly traded hospital operators include HCA Holdings (HCA), LifePoint (LPNT), Tenet Healthcare (THC), Community Health (CYH) and Quorum Health (QHC) and health insurance providers include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG).

4. ENERGY DOMINANCE: President Trump and White House have rolled out plans intended to make America more than just energy independent, but energy dominant. As Energy Secretary Rick Perry explained: "An energy dominant America means self-reliant. It means a secure nation, free from the geopolitical turmoil of other nations who seek to use energy as an economic weapon. An energy dominant America will export to markets around the world, increasing our global leadership and our influence." Publicly traded drillers and oil services companies include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT). Publicly traded U.S. oil majors include Chevron (CVX), ConocoPhillips (COP), and Exxon Mobil (XOM). "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.

Disclosure:

1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She owns, or members of her immediate household or ...

Disclosure:

1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She owns, or members of her immediate household or family own, shares of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.

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