By Shashwat Chauhan and Medha Singh
(Reuters) -The dramatic shift in U.S. domestic and foreign policy since President Donald Trump returned to the White House on January 20 has sent shockwaves across global financial markets.
Trump’s multi-front trade war and constant flip-flops on tariffs have upended supply chains, clouded business outlooks and stoked fears of a recession in the U.S. The S&P 500 has lost nearly 8% since his January 20 inauguration.
As Trump completes 100 days in office, here is a look at the winners and losers in the U.S. stock markets:
WINNERS
Data analytics provider Palantir, which works with the Department of Homeland Security, has surged nearly 60% since Trump came into power as the Department of Defense prioritizes a new software acquisition effort to enhance the U.S. military.
Palantir is also partnering with Elon Musk’s SpaceX and drone builder Anduril to build key parts of Golden Dome missile defense shield, people familiar with the matter told Reuters. All three companies are founded by entrepreneurs who have been major political supporters of Trump.
Palantir is the top performer on the S&P 500 in Trump’s first 100 days as president.
Phil Blancato, CEO of Ladenburg Thalmann Asset Management, said Trump-linked stocks and companies with “a predominantly domestic bias, especially in the manufacturing sector” stand to do quite well under the current administration.
Conservative cable news channel Newsmax, which attracted strong interest from retail investors after its debut on the NYSE on March 31, have advanced more than 60% since the IPO.
Gold miners are also in a bright spot, tracking a surge in the bullion, driven by U.S. policy uncertainty and fears of recession. The world’s biggest gold miner Newmont’s near 30% surge since January 20 makes its shares among the highest on the S&P 500.
U.S.-listed shares of foreign gold miners like Barrick Gold, Gold Fields and AngloGold Ashanti have also rallied between 20% and 50% since Trump took office.
LOSERS
Shares of U.S. carriers have been battered by Trump’s tariffs and softening travel demand, with the S&P 1500 airlines index losing nearly a third of its value since January 20.
Delta Air Lines, American Airlines and Southwest Airlines are among a host of carriers that have withdrawn their annual outlooks. Aviation industry is lobbying the White House for exemptions.
Electric automaker Tesla has dropped 33% since Trump’s return to power as investors feared that CEO Elon Musk’s involvement in the Department of Government Efficiency could distract his focus from the electric vehicle maker, whose sales continued to fall.
However, Musk last week said he would cut back his work for Trump to a day or two per week from sometime next month.
Some department store operators have also been hurt by consumers cutting their discretionary spending on recession worries.
Shares of Kohl’s have slumped 46% since January 20, with the company warning that a turnaround will take “some time”. Macy’s, which reported annual sales and profit forecast below estimates last month, has shed 17% in the same period.
A few electronics firms are among the steepest decliners on the S&P 500.
Semiconductor-testing equipment maker Teradyne, has slumped 44.5% since January 20. The firm flagged short-term volatility in its business caused by tariffs and trade curbs in March.
Zebra Technologies has slumped 40% so far this year with the barcode scanner-maker warning of an earnings hit in mid-February. Some electronics firms are among the steepest decliners on the S&P 500.
Semiconductor-testing equipment maker Teradyne, has slumped 44.5% since January 20. The firm flagged short-term volatility in its business caused by tariffs and trade curbs in March.
Zebra Technologies has slumped 40% so far this year with the barcode scanner-maker warning of an earnings hit in mid-February.
(Reporting by Shashwat Chauhan and Medha Singh in Bengaluru)
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