Today’s charts: Caterpillar, Deere, Fluor climb on report Trump’s infrastructure plan could come soon
Yahoo Finance is tracking stocks that could get a boost if President Donald Trump takes up infrastructure soon or combines an infrastructure spending plan with tax reform, as reported by Axios Monday night. Infrastructure spending was one of President Trump’s biggest policy points on the campaign trail.
Axios’ Jonathan Swan wrote, “It’s a major strategic shift—infrastructure was likely going to be parked until next year—and is only possible because of last week’s health care debacle.”
Greg Valliere, Horizon’s chief global strategist, echoes why it makes sense for the Trump administration to make infrastructure a top priority. In a note this morning, Valliere offered Trump some advice, “Obamacare reform has badly wounded Trump and the Republicans; now they want to plunge into a one-year brawl on tax reform? Infrastructure reform—highways, bridges, sewer systems, etc.—would win support from Democrats and all but the hard-core fiscal hawks in Congress. A bipartisan deal–what a concept!”
Valliere also noted, “We’re hearing that Trump could be persuaded to move sooner rather than later on infrastructure—despite his bravado about fake polls, he surely knows that he desperately needs a legislative victory this year, and by default infrastructure is a no-brainer.”
Infrastructure stocks are getting a boost in intraday trading on Tuesday. Caterpillar (CAT), Deere (DE), Fluor (FLR), Aecom (ACM) and Vulcan Materials Company (VMC) are all trading in positive territory.
For more on how Trump’s policies could impact your investment portfolio, check out the Final Round, live at 4 p.m. EDT, right here on Yahoo Finance.
