Stocks that stand to benefit from Donald Trump's presidency soared in the wake of the real estate magnate's victory.
TheStreet's Donald Trump Stock Portfolio, a set of 15 stocks that should benefit from the president-elect's policies, traded up 4.47% midday Monday. Broader markets rallied as well, with U.S. stocks posting solid gains despite futures markets showing signs of distress as election results rolled in overnight. Hillary Clinton delivered her concession speech late morning, urging her supporters to keep an "open mind" and give her rival "a chance to lead." President Obama encouraged a smooth transition to the Trump administration and said we are "all rooting for his success."
Trump has remained relatively quiet throughout the day apart from a tweet pledging that we will "all come together as never before."
Such a beautiful and important evening! The forgotten man and woman will never be forgotten again. We will all come together as never before— Donald J. Trump (@realDonaldTrump) November 9, 2016
Speculation has already begun to swirl about his administration, agenda and plans.
U.S. Steel (X - Get Report) was the top performer in the Trump stock portfolio midday Wednesday, trading up 18.18% to $24.77. Trump has promised to get tough on trade with China and practices by the country that hurt American steel companies. As part of his campaign platform, he pledged to instruct his Treasury Secretary to label China a currency manipulator and ask the U.S. Trade Representative to bring trade cases against it.
The Geo Group (GEO - Get Report) soared as well, climbing 17.25% to $28.00. Private prison stocks were among the biggest beneficiaries of Trump's victory on Wednesday. Corrections Corp. of America (CXW - Get Report) , which recently rebranded as CoreCivic, rallied as well. Both Geo and CCA took a hit in August when it appeared the federal government would be phasing out private prison contracts. Trump, however, appears quite favorable to the private prison industry, and he will need such facilities should he attempt to enact his mass deportation plan.
Defense contractors Lockheed Martin (LMT - Get Report) and Northrop Grumman (NOC) made gains as well, rallying 5.96% to $253.45 and 5.12% to $241.63, respectively. Lockheed Martin was the U.S. government's biggest single contractor in 2015, garnering $36.2 billion in contracts from various agencies. Northrop Grumman is the third-largest maker of military arms and equipment.
Gold miner Randgold Resources (GOLD - Get Report) surged 4.89% to $87.80, indicating some investors may have moved to the stock as a safe haven in anticipation of volatility. Gold prices Wednesday remained relatively flat and were down about 0.20%.
Here's how the entire Trump portfolio did post-election day, starting with the biggest gainers:
U.S. Steel 18.18%
The Geo Group 17.25%
Steel Dynamics 8.87%
Lockheed Martin 5.96%
Northrop Grumman 5.12%
Randgold Resources 4.89%
Bitcoin Investment Trust (GBTC) 3.22%