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. CANADIAN LUMBER: On Monday, the Trump administration announced that it will impose new tariffs on Canadian softwood lumber imports. According to media reports, the Commerce Department determined that the neighboring country had been improperly subsidizing the sale of softwood lumber products to the U.S. The tariffs are expected to be between 3%-24%, with penalties being collected retroactively on imports dating back 90 days. Publicly traded companies in the lumber and homebuilding supply space include Rayonier (RYN), Lumber Liquidators (LL), Deltic Timber (DEL), Weyerhaeuser (WY), Norbord (OSB), Potlatch (PCH) and Universal Forest Products (UFPI). 2. ALUMINUM: Earlier this week, the Trump administration launched an investigation into whether a flood of aluminum imports from China and elsewhere is compromising national security, which could lead to broad import restrictions on the metal. Publicly traded companies in the aluminum space include Alcoa (AA), Kaiser Aluminum (KALU) and Century Aluminum (CENX). 3. NET NEUTRALITY: On Wednesday, new FCC chairman Ajit Pai confirmed that he is proposing to roll back net neutrality rules that prohibit broadband providers from giving or selling access to certain internet services over others. Potential stakeholders in net neutrality include Netflix (NFLX), Facebook (FB), Amazon (AMZN), Alphabet (GOOG), Comcast (CMCSA), Verizon (VZ) and AT&T (T). 4. HEALTH CARE SECTOR: Also on Wednesday, the House Freedom Caucus announced it will support an amended plan to replace the Affordable Care Act. According to CNBC, the Freedom Caucus said its members would support the plan if it includes the MacArthur amendment, which would allow states to waive some key Obamacare provisions. Publicly traded companies in the hospital and healthcare insurance space include Community Health (CYH), HCA Holdings (HCA), LifePoint (LPNT), Tenet (THC), Universal Health (UHS), Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). 5. TAX REFORM: Wednesday afternoon, Treasury Secretary Steve Mnuchin and National Economic Council director Gary Cohn unveiled the broad strokes of President Trump's tax plan. Among other changes, the proposal calls for just three tax brackets and a doubling of the standard deduction - likely reducing the need to itemize -, while eliminating many tax breaks, with Cohn appearing to specifically criticize the convoluted nature of tax preparation. Shares of publicly-traded tax preparers H&R Block (HRB) and Intuit (INTU) were under pressure following the announcement. 6. OFFSHORE ENERGY: On Friday, President Donald Trump signed an executive order instructing the interior department to revamp the Obama administration's plan to develop federal waters. The executive order looks to turn back efforts to limit drillers in U.S. Arctic waters and elsewhere. Some notable offshore drillers include Atwood Oceanics (ATW), Diamond Offshore (DO), Ensco (ESV), Noble Corp. (NE), North Atlantic Drilling (NADL), Pacific Drilling (PACD), Rowan Companies (RDC) and Seadrill (SDRL). 7. FIRST SOLAR: On Thursday, JMP Securities analyst Joseph Osha upgraded First Solar (FSLR) to Market Perform, saying that a petition regarding foreign-manufactured crystalline silicon cells and modules filed with the U.S. International Trade Commission by Suniva could benefit the company. Recent actions from the Trump administration on other trade issues suggest there is a non-zero chance that the USITC petition in question could be signed if it hits the President's desk, Osha contended. Additionally, the analyst believes First Solar will be able to move product into the U.S. without facing tariffs. "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories
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