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09:16 EDT 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. IMMIGRATION POLICY: On Tuesday, Jefferies analyst Andy Barish and a team of his peers said they believe weak spending from Hispanic consumers flagged by several companies this earnings season is mainly due to uncertainty around immigration policy. Given the challenging environment for new legislation, the analyst argued that the weakness may be a short-term phenomenon, with many companies potentially set to benefit from an improvement in spending from this demographic. Among companies the firm named that were or may impacted by the change in spending from Hispanic consumers are: O'Reilly Automotive (ORLY), Wal-Mart (WMT), e.l.f. Beauty's (ELF), Ulta Beauty (ULTA), Jack in the Box (JACK), Murphy USA (MUSA), Target (TGT), Valvoline (VVV) and Wingstop (WING). 2. GOVERNMENT SHUTDOWN: On Wednesday, U.S. stocks fell after President Trump said at a rally in Arizona that "we're building that wall" even if "we have to close down our government." Additionally, the President also expressed doubts whether the U.S. will be able to successfully renegotiate the North Atlantic Free Trade Agreement, or NAFTA. The government will "probably" terminate the trade agreement, he added. 3. STEEL SECTOR: According to a report by Reuters on Thursday, senior executives from 25 U.S. steel and steel-related companies, including Nucor (NUE), U.S. Steel (X), ArcelorMittal (MT) and DTE Energy (DTE), have sent a letter to President Donald Trump for immediate import restrictions, saying the industry is suffering the consequences of government inaction but this could change with his "bold leadership" and "America First" vision. "The need for action is urgent. Since the 232 investigation was announced in April, imports have continued to surge," the executives said in the letter, adding that "Immediate action must meaningfully adjust imports to restore healthy levels of capacity utilization and profitability to the domestic industry over a sustained period." 4. HEAD OF THE FED: Just last month, President Trump told the Wall Street Journal that Gary Cohn, the director of the National Economic Council, was on the short list of candidates to be the next head of the Federal Reserve. Now, Cohn told the Financial Times in his first public comments since the events in Charlottesville that he faced "enormous pressure" to quit in the wake of Trump's initial reaction, but he has decided to remain in his post as he feels "a duty to fulfill my commitment to work on behalf of the American people." However, he added to the FT that he feels "compelled to voice my distress over the events of the last two weeks," which may put in question whether he will still be in the driver's seat to take over leading the central bank if Janet Yellen is replaced when her term ends. "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
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