Donald Trump attempted to press the reset button on his presidential campaign last week, to mixed results. For the stocks that could do well with him in the White House, however, it's been fairly uneventful.
The candidate lashed out at the media over the weekend for what he insists is unfair coverage of him, apparently spurred by a New York Times story relating turmoil within his campaign. Well today, Mr. Trump, we've got some good news for you: stock-wise, recent days have been better for you than they have for your rival, Hillary Clinton.
The portfolio of 15 stocks that stand to do well under a President Trump was relatively flat last week, at market close last Friday, August 12 down just 0.07% from market close the Friday before. The portfolio of stocks that could benefit from a Clinton presidency, on the other hand, declined by 2.18%. The Trump portfolio also outperformed its prior week performance -- it had declined 1.53%.
Cemex (CX - Get Report) was the week's strongest performer, with its price gaining 11.07% to $8.73. The Mexican cement and concrete maker, which would be a potential materials supplier for Trump's border wall, in late July reported its biggest second-quarter profit since 2008 and announced plans to cut its debt in an effort to regain an investment-grade credit rating. Cemex has performed well in 2016, up more than 55% year-to-date.
The Bitcoin Investment TRUST (GBTC) had a strong week as well. It climbed 8.33% to $97.50 at market close Friday. Bitcoin Investment Trust and private company stock market SecondMarket last week reached a settlement with the SEC over eyebrow-raising share purchases in 2014. Confidence in Bitcoin has been on the rise recently, and volatility appears to have lessened somewhat, with investors spooked by global events like Brexit giving the digital currency a closer look.
U.S. Steel (X - Get Report) was the major drag on the Trump portfolio. Its price plunged 20% last week, at market close Friday trading at $21.06. The Pittsburgh-based company slid last week after pricing an 18.9-million-share offer at a discount to its price at the time. It was also hit with a $170,000 fine after an investigation showed it exposed workers to asbestos hazards, and it announced plans to lay off maintenance workers in Indiana. Despite last week's drop, the stock is still up more than 150% year-to-date.
Steel Dynamics (STLD - Get Report) also took a hit as well, though not nearly as much as U.S. Steel. Its price declined 4.31% last week to $25.29 at market close Friday. Still, 2016 has been good to Steel Dynamics, with its price up over 40% this year.
Here's how the entire Trump portfolio did last week, leading with the top gainers:
Bitcoin Investment Trust 8.33%
Lockheed Martin 1.48%
Tetra Tech 1.04%
Northrop Grumman (NOC) -0.34%
Steel Dynamics -4.31%
U.S. Steel -20.50%