4 Steel Stocks To Gain Under President Trump
Zacks Investment Research | Nov 30, 2016 07:23AM ET
For the first time in a decade, heading into December, we see a credible long-term investment case for steel equities. President-elect Donald Trump’s policies to spend big on the nation’s infrastructure and trade protection plans should benefit the steel industry by both increasing demand and curtailing import supply.
Trump’s win has brought back shine to steel stocks, dispelling the gloom plaguing them since 2010. Several analysts, in the meantime, have turned bullish on steelmakers in recent times, which call for investing in such companies.
Trump Win Makes Steel Shine Again
Steel stocks have been on a tear since Trump was elected as the 45th U.S. president. Trump’s plans of increased infrastructure spending and a further cut on China-produced steel are reasons enough to invest in such stocks after almost 10 years.
Trump has vowed to “fix our inner cities and rebuild our highways, bridges, tunnels, airports, schools, hospitals”. He has promised to double infrastructure spending than what his competitor Hillary Clinton had assured. This puts his proposed spending at around $550 billion, while Clinton had estimated $275 billion over the next five years (read more: Zacks Investment Research
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