Stocks that would perform under a Donald Trump presidency have surged in recent days, even as the candidate's poll numbers have continued to decline.
The Republican presidential nominee failed to deliver a narrative-shifting performance at the final debate of the general election against Hillary Clinton. He raised eyebrows when he refused to say he would concede the election should he lose in November. "I will tell you at the time," Trump said. "I will keep you in suspense."
Trump delivered a speech in Gettysburg, Pa. over the weekend with the intention of laying out plans for the first 100 days of his administration. The details of his remarks, intended as a closing argument for his campaign, were overshadowed by his assertions that he would bring lawsuits against the women accusing him of sexual misconduct. He also said he would block the deal between AT&T (T) - Get Report and Time Warner (TWX) announced over the weekend.
Despite Trump's campaign-trail troubles, stocks that would perform well with him in the White House surged. TheStreet'sDonald Trump Stock Portfolio, a set of 15 stocks that could benefit from Trump's policies, rallied 3.89% from market close Friday, October 14 to Friday, October 21. It slightly outdid TheStreet's Hillary Clinton Stock Portfolio, which climbed 3.55%.
U.S. Steel (X) - Get Report was the best performer in the Trump portfolio last week. Its price surged 20.46% to $19.78. Barron's recently argued shares of the Pittsburgh-based company could rise 50% in a year, thanks in part to anticipated actions by the U.S. to go fight against unfair Chinese trade practices.
Both Trump and Clinton have pledged to take a more aggressive approach to trade in manners that would boost U.S. Steel. Trump's focus on trade reform with China -- namely, efforts to penalize Chinese imports -- would help to expand revenues and profits for American steel companies.
Steel Dynamics (STLD) - Get Report surged 11.04% to $26.35 between Oct. 14 to Oct. 20. The stock got a boost late last week in the wake of its third quarter earnings report, including a jump in profits thanks to a market rebound and drop in Chinese imports. It also announced a share buyback program. The Fort Wayne, Indiana company, like U.S. Steel, would see a boost from a tough-on-China Trump.
Bitcoin Investment Trust (GBTC) was the biggest drag on the Trump portfolio last week. It dipped 3.26% to $89. Entrepreneurs Cameron and Tyler Winklevoss namedState Street(STT) - Get Report as an administrator for their proposed Bitcoin Exchange Traded Fund, which could compete against the Bitcoin Investment Trust.
Should investors go looking for new opportunities in the event a Trump presidency increases market volatility, virtual currency like Bitcoin could gain steam.
Northrop Grumman (NOC) - Get Report dipped 1.40%, ending Friday trading at $215.86. The company won a $35 million contract from the U.S. Navy last week. It is set to report earnings on Oct. 26. One of the largest makers of military arms and equipment, Northrop Grumman would likely benefit should Trump fulfill his pledge to increase military spending.
Here's how the entire Trump portfolio did last week, leading with the top gainers:
U.S. Steel 20.46%
Steel Dynamics 11.04%
Northrop Grumman -1.40%
Bitcoin Investment Trust -3.26%