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08:55 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. HEALTH CARE REFORM: While noting the resignation of Health Secretary Tom Price, Bernstein analyst Lance Wilkes said on Monday that he does not anticipate an Affordable Care Act fix or repeal before the 2018 election. The analyst expects tax reform will "suck the oxygen out of the room" until close to the election. A fix for 2019 is possible, but faces the headwind of the 2018 election campaign, he contended, adding that he believes CSR funding could be included in a trade for the upcoming budget and the Health Insurance Fee could be suspended as part of tax reform, but both are not highly likely at this point. Publicly traded companies in the space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). 2. TAX REFORM: On Thursday, the House passed a $4.1T budget, the first concrete step toward tax reform. The vote in full Senate is slated for the week of October 16. By passing a budget resolution through both chambers, Republicans would trigger a legislative process known as reconciliation, during which they could pass a sweeping tax reform bill with a simple majority of 51 votes in the Senate. According to a report by CNBC, however, it is still far from certain that Republicans will be able to find enough common ground to actually pass the tax reform package, with disagreement already emerging over how much to cut certain tax rates and whether it would be revenue-neutral. 3. INSURERS: Shares of the insurers of Puerto Rico's bonds, including MBIA (MBI), Assured Guaranty (AGO), and Ambac Financial Group (AMBC) were under pressure on Monday after President Donald Trump said that his administration would wipe out Puerto Rico's debt to hasten the recovery from the damage that was left by recent hurricanes. During an interview with Fox News, President Trump said, "We have to look at their whole debt structure... You know, they owe a lot of money to your friends on Wall Street, and we're going to have to wipe that out." 4. RUSSIAN PROBE: Facebook (FB) CEO Mark Zuckerberg and COO Sheryl Sandberg not likely to testify before Congress early next month, when the company will face scrutiny over how Russia-based groups used the social network giant's ad-buying technology to influence the 2016 U.S. presidential election, according to a report by CNBC. Meanwhile, Bloomberg said on Wednesday that U.S. lawmakers are looking into Google's (GOOG, GOOGL) YouTube and Gmail services as part of their investigation into how Russian-linked operatives used social media during the 2016 election. 5. FUEL REQUIREMENTS: According to Reuters, citing a letter made public by Senator Amy Klobuchar's office, 38 senators have asked the Environmental Protection Agency to abandon plans to lower biofuels requirements for oil refiners in 2018. Publicly traded companies in the space include Delek US (DK), HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO), Western Refining (WNR), Green Plains (GPRE), Pacific Ethanol (PEIX), Renewable Energy Group (REGI) and Darling Ingredients (DAR). 6. 'FAKE NEWS': Earlier this week, Secretary of State Rex Tillerson highlighted the "team" accomplishments of President Trump's foreign policy staff in a press conference after an NBC News report that claimed he called the President a "moron" this summer. Tillerson said he never considered leaving his post and that Vice President Pence never had to talk him into staying, as NBC News claimed in its report. After Tillerson's press conference, President Trump tweeted, "The @NBCNews story has just been totally refuted by Sec. Tillerson and @VP Pence. It is #FakeNews. They should issue an apology to AMERICA!" NBC is a unit of Comcast (CMCSA). 7. NATIONAL MANUFACTURING DAY: On Friday, President Donald Trump met with members of the National Association of Manufacturers and representatives of the industry. Trump also signed a proclamation honoring National Manufacturing Day, saying his administration is helping "compete and win on the world stage." "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
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