Week In Review: How Trump's Policies Moved Stocks - June 29, 2019

Trump says U.S. should sue Facebook and Google, as companies find way around Huawei ban

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 Donald Trump and his administration with this weekly recap compiled by The Fly:

1. U.S.-CHINA TRADE TALKS: President Donald Trump and Chinese President Xi Jinping agreed to proceed with negotiations after a series of escalations to their nations’ trade war threatened to disrupt the global economy, CNBC’s Everett Rosenfeld reported. Further, both sides confirmed in separate comments that they did not plan to levy any new tariffs against each other’s products at the present time, the author said.

2. TRUMP SAYS U.S. SHOULD SUE GOOGLE, FACEBOOK: President Trump said the U.S. government should sue Google (GOOGL) and Facebook (FB), complaining to Fox Business Network that social media companies are run by Democrats and that Twitter (TWTR) has somehow made it difficult for people to follow his @realDonaldTrump account, Bloomberg's Alyza Sebenius reported on Wednesday. Trump added that "perhaps we will," without saying what the companies would be sued for. Separately, Twitter announced it introducing "a new notice that will provide additional clarity" in situations where government officials send Tweets that violate the platforms rules. In such "rare" cases, users will see a screen they have to click or tap through before seeing the Tweet, Twitter said. The blog post did not mention President Trump, to whom the new policy may apply, though many interpreted it as potentially directed at him.

3. HUAWEI BAN: U.S. tech companies, including Intel (INTC) and Micron (MU), have found ways to sell millions of dollars of products to Huawei despite the Trump administration's ban, The New York Times' Paul Mozur and Cecilia Kang reported, citing four people with knowledge of the sales. According to sources, the chip makers have "found ways to avoid labeling goods as American-made." The sales will help Huawei continue to sell products such as smartphones and servers. Micron also said during its earnings call earlier this week that it has determined the company can lawfully resume shipping "a certain subset" of products to Huawei.

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