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15:12 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. NORTH KOREA: According to reports Monday, citing Japan's news agency NHK, North Korea launched a missile that passed over Japan. The PowerShares Aerospace & Defense ETF (PPA) was flat on Monday following the news, but added over 2% for the week. Publicly traded companies in the defense space include BAE Systems (BAESY), Boeing (BA), General Dynamics (GD), Lockheed Martin (LMT), Northrop Grumman (NOC), Raytheon (RTN) and United Technologies (UTX). 2. HURRICANE HARVEY: On Tuesday, President Donald Trump and the First Lady flew to Texas to assess the situation and to talk to some of the people affected by Hurricane Harvey, which made landfall in that part of the country last weekend. Several companies, particularly in the oil and gas production and refining sectors, were forced to close their doors or shut down production as the storm passed through coastal Texas, but it remains too soon to fully comprehend the size of the losses. However, due to the prolonged rainfall and the high level of flooding, many estimates have called for this to be the most costly natural disaster in U.S. history or second to only Hurricane Katrina. In a note to investors on Monday, JPMorgan analyst Sarah DeWitt listed Validus (VR), RenaissanceRe (RNR), Everest Re (RE), XL Group (XL), Arch Capital (ACGL), Travelers (TRV), Chubb (CB), Allstate (ALL) and Progressive (PGR) as the property and casualty insurers with the most exposure to Texas hurricanes. For the week, the iShares U.S. Insurance ETF (IAK) fell about 1%. 3. STEEL: Donald Trump rejected a proposal by China to reduce steel capacity by 150M tons by 2022 despite the plan being endorsed by some of his top officials, the Financial Times reported on Tuesday, citing several people familiar with the matter. "It was fairly sizeable amounts. But the amounts don't really matter since by then the president had decided that he wanted to go in a different direction - more towards tariffs than cutting excess capacity," said a U.S. official, according to the report. Publicly-traded companies in the space include Nucor (NUE), U.S. Steel (X), ArcelorMittal (MT) and DTE Energy (DTE). 4. H&R BLOCK: H&R Block (HRB), which fell on Wednesday after the company's earnings report, was also pressured after President Trump said while speaking at an event in Missouri that the the tax code is too complicated and spoke about simplifying it for Americans. "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
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