Here are six stocks to look into buying during a Trump presidency, based on news of how he plans to proceed as president:
U.S. Steel Corp.
The Chinese dumping of steel on the U.S. steel market has hurt such manufacturers as U.S. Steel by lowering prices that American companies can’t match.
Trump has proposed large tariffs on China and other countries. A Trump presidency could increase steel prices in the U.S., helping U.S. Steel and other manufacturers.
Bank of America
The Federal Reserve has signaled that it plans to raise interest rates soon. A Trump presidency could lead to higher inflation and a growing federal deficit. With interest rates at historic lows, the Fed could look to other financial moves made by the new administration as reason to increase them for the next few years.
Bank of America and other U.S. banks would benefit by making more money on loans they make. Banks that are already holding billions of dollars in checking accounts that they don’t pay any interest on would make more money by a rise in interest rates.
General Dynamics Corp.
Pick any strong defense company, and you may see strong growth in its stock if a Trump presidency leads to a bigger military.
General Dynamics is diversified in aerospace, combat systems and information technology, and is a key supplier to the Navy.
Cemex SAB de CV
Headquartered in Mexico, Cemex may be a logical choice if the Trump presidency moves forward on his plan to build a wall along the border with Mexico.
Cemex is one of the top cement-producing companies in the world. If Mexico has to pay for the wall, as Trump has called for, then officials there may want to pick a local company.
Corrections Corp of America
A Trump presidency may start filling America’s prisons fast, and Corrections Corp is one of the biggest companies that builds federal prisons.
Illegal residents could be imprisoned before being sent back to their home country under a Trump presidency, and this company could benefit from it.
Consol Energy Inc.
If America goes back to digging more coal, as a Trump presidency plans, then Consol Energy could benefit largely.
The company is known for its coal mining processes that allow it to change production levels quickly. Energy policy changes under a Trump presidency could boost Consol Energy’s stock price.