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. DEFENSE RALLY AFTER SYRIAN STRIKE: Several defense names advanced after the U.S. navy struck a Syrian military base with nearly 60 Tomahawk missiles in retaliation for a deadly chemical weapon attack attributed to the Assad regime. Among the stocks trading higher on Friday were Raytheon (RTN), the maker of the missiles used by the U.S. Navy, Lockheed Martin (LMT), producer of the new F-35 fighter jet and the Hellfire missile, and Boeing (BA), which has several government defense contracts and is the maker of JDAM GPS, a guidance system for bombs.

2. WARREN SAYS TRUMP SUPPORTS ’21ST CENTURY’ GLASS-STEAGALL: United States Senators led by Elizabeth Warren and John McCain plan to re-introduce the 21st Century Glass-Steagall Act, a modern version of the Banking Act of 1933 that “protects American taxpayers, helps community banks and credit unions compete, and decreases the likelihood of future financial crises.” Reinstating Glass-Steagall has broad bipartisan support from the public and policymakers, including from President Trump and Treasury Secretary Steve Mnuchin, according to a statement from Senator Warren’s office. Also, White House economic adviser Gary Cohn said in a private meeting with lawmakers that he backs a policy that could reshape Wall Street’s largest firms in a major way by splitting their consumer lending units from their investment divisions, Bloomberg reported, citing people with direct knowledge of the matter. Publicly traded large banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), and Wells Fargo (WFC).

3. TOWN HALL MEETING WITH CEOs: President Donald Trump held a town hall meeting with about 50 business leaders on Tuesday at the White House to discuss several business-related topics, including infrastructure and workforce development. Among the executives present in the meeting were the CEOs of Citigroup (C), Blackstone (BX), JetBlue (JBLU), Mastercard (MA), and senior executives from General Electric (GE), HSBC (HSBC), Interpublic Group (IPG), and Vornado Realty Trust (VNO).