Week In Review: How Trump's Policies Moved Stocks - Saturday, August 5

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:

WECHAT, TIKTOK BAN

The White House is debating the scope and effective date of its bans on Chinese apps WeChat (TCEHY) and TikTok and will make its decisions public later in September, Bloomberg's Jenny Leonard reported, citing people familiar with the matter. The Commerce Department, which will implement the restrictions on national security grounds, is drafting documents to clarify the particular transactions that will be banned between the Chinese companies and U.S. businesses, as well as when such actions will take effect, Leonard said. The Fly notes that Walmart's (WMT) joint bid with Microsoft (MSFT) for TikTok's U.S. assets is reportedly seen as the frontrunner, while a second consortium featuring Oracle (ORCL) is also said to be in the running.

PUSH FOR VACCINE DELIVERY BY NOV. 1

Robert Redfield, director of the Centers for Disease Control and Prevention, sent a letter last week to the nation's governors with an urgent request. The Trump administration wanted them to do everything in their power to eliminate hurdles for vaccine distribution sites to be fully operational by November 1, The Herald's Michael Wilner reported. The August 27 letter asked governors to fast-track permits and licenses for new distribution sites. "The normal time required to obtain these permits presents a significant barrier to the success of this urgent public health program," Redfield wrote. Only two of six vaccine candidates that have the backing of the federal government - from Moderna (MRNA) and Pfizer (PFE) - are currently in active Phase III clinical trials, and both require individuals to take two doses, three to four weeks apart, the author noted.

Meanwhile, the Trump administration said it has garnered so many ventilators that it is canceling some of the $3B in contracts it inked to fight the COVID-19 pandemic, the Wall Street Journal's Stephanie Armour reported. The Department of Health and Human Services said it is terminating the contracts early since it has enough ventilators to handle the crisis, with about 120,000 of them now in the Strategic National Stockpile, Armour said.

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Roger Keats 7 months ago Member's comment

good read