Week In Review: How Trump's Policies Moved Stocks - March 16, 2019

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. BOEING 737 MAX PLANES GROUNDED: On Wednesday, the FAA ordered the temporary grounding of Boeing (BA) 737 MAX aircraft operated by U.S. airlines or in U.S. territory. The agency said the decision was based on new information about the crash of the Ethiopian Airlines Boeing 737 Max 8 on Sunday that killed 157 people. The grounding will remain in effect pending further investigation, including examination of information from the aircraft's flight data recorders and cockpit voice recorders. The announcement followed President Trump stating that he was going to be issuing an emergency order of prohibition regarding all flights of the 737 MAX 8 and 737 MAX 9, following in the footsteps of many other countries around the world that had already grounded the plane. Following the President's announcement, Boeing stated that it supports the action by the White House. The company noted in its statement, though, that it "continues to have full confidence in the safety of the 737 MAX."

2. TECH COMPANIES' 'COLLUSION': President Trump responded to Senator Elizabeth Warren's proposal to break up big tech companies like Amazon (AMZN), Facebook (FB), and Google (GOOG, GOOGL), telling far-right news outlet Breitbart that there was "collusion between the Democrats and these tech companies" during the 2016 election. Trump said that the large tech companies are "a hundred percent steered against" Republicans. He added that, "Actually it's incredible that I won the election because you know it was so rigged against me... It wasn't Russians. Russia collusion was a delusion. But what there is, is there was collusion between the Democrats and these tech companies."

3. ETHANOL MARKET: Bloomberg's Mario Parker and Jennifer Dlouhy reported on Tuesday that the White House is moving ahead with an advanced "plan meant to expand the U.S. market for corn-based ethanol and place trading restrictions on credits that refiners use to prove they are using biofuel." Publicly traded companies that may be impacted include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS-A) and Total (TOT), Amyris (AMRS), Andersons (ANDE), Archer Daniels (ADM) and Gevo (GEVO).

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Gary Anderson 6 months ago Contributor's comment

Well, Trump thinks McCain is still alive since he seems to think the deceased senator still reads his tweets. There is a tool or 5 missing from his mental toolbox. So accusing tech of collusion continues the fantasy.