Best and Worst US sectors during Trump’s first 100 days
By Kristen McGachey, 26 Apr 17
Trump’s first 100 days in office have been jam packed with outrageous tweets, ‘alternative facts,’ a failed healthcare bill and foreign policy blunders. But, what were the best and worst performing US sectors during Trump’s first 100 days?
Companies in the S&P 500’s telecoms sector have produced some of the worst returns so far during Trump’s nascent presidency, yielding -9.1%.
Alongside consumer staples, bond-proxy like telecoms stocks were hit the hardest immediately following the news of Trump’s stunning victory.
While prospects for the sector look bleak currently, Canaccord Genuity Wealth Management CIO Michel Perera thinks that could change if Trump’s corporate tax plans are eventually implemented.
“They [telecoms] are the companies that pay the highest rate of tax in the US so they stand to benefit the most if there is a tax cut,” he explained.
However, given he thinks a new tax bill is “some way away,” it might be “a little too early to bet on telecoms.”
Tags: Donald Trump | Investment Strategy | US
