Week In Review: How Trump's Policies Moved Stocks - Sunday, May 10

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:

U.S.-CHINA RELATIONSHIP:

 White House Press Secretary Kayleigh McEnany said that the relationship between the U.S. and China is one of "disappointment and frustration," underscoring a broadening divide between Washington and Beijing over the COVID-19 outbreak, Reuters' Jeff Mason reported. The comments, delivered during a press briefing, come as the two countries have clashed over the origins of the pandemic, Mason said. McEnany, who claimed China withheld information about the virus, said the president "has said how frustrated he is at some of the decisions of China that put American lives at risk," the report added.

Trump recently said that he could “terminate” the phase 1 trade deal if China did not meet its obligations to increase its purchases of U.S. goods this year. On Friday, however, markets got a boost after U.S. and Chinese economic officials struck a conciliatory tone during a call to discuss the prospects of China fulfilling the agreement.

Chinese Vice Premier Liu He stopped short of guaranteeing that China would keep its promise to buy an additional $200 billion in U.S. products, but agreed to “strengthen cooperation on the macroeconomy and public health and create favorable conditions for implementing the Phase 1 deal,” according to a Chinese statement.

The U.S. readout of the call, attended by Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, was "more explicit" and said both sides “agreed” that “both countries fully expect to meet their obligations under the agreement in a timely manner,” according to The Washington Post's Gerry Shih.

TRUMP THANKS HONEYWELL:

In a tweet following his visit to the company’s factory in Arizona earlier this week, President Trump thanked Honeywell (HON) for its efforts during the COVID-19 crisis. The President did not wear a mask during his visit but said later that he had tried some on backstage, including one from Honeywell, 3M (MMM) and about four others, according to Reuters. "I had a mask on for a period of time," Trump said. "I can’t help it if you didn’t see me. I mean, I had a mask on, but I didn’t need it. And I asked specifically the head of Honeywell: 'Should I wear a mask?' And he said, 'Well, you don’t need one,'" Trump said.

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Adam Reynolds 5 months ago Member's comment

"When we look at the immune response that you can induce with a modest dose - one that's feasible to be translated into humans - and the amount of time it takes to get to that level of immunity, it is really quite impressive," Fauci was quoted as saying when discussing both Moderna's vaccine candidate and the one being developed at Oxford. "It is also really easy to scale up with these two, in the sense of making a lot of doses pretty quickly," he reportedly added."

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