Trump’s Second Term: Stock Market Winners and Losers Revealed
As Trump’s policies rattle markets, stocks like Palantir and Newsmax soar while airlines and Tesla stumble. See the full breakdown.
When Donald Trump was sworn back into the White House on January 20, the global financial community braced for another unpredictable ride. In just his first 100 days, Trump’s aggressive trade tactics and frequent shifts on tariffs have upended global supply chains, clouded corporate strategies, and ignited recession fears among economists. The S&P 500 has tumbled nearly 8% since his return, underlining the palpable tension rippling through the markets.
As the dust settles on Trump’s opening months, we break down the sectors and companies that have thrived—and those that have faltered—under the weight of his economic agenda.
Winners: Companies Riding the Trump Wave
Palantir’s Meteoric Rise
One of the most striking success stories comes from Palantir Technologies (PLTR.O), a data analytics powerhouse closely tied to U.S. national security initiatives. Since Trump’s reentry into office, Palantir’s shares have surged nearly 60%, outperforming every other stock on the S&P 500.
The Department of Defense, eager to modernize its tech arsenal, has prioritized software procurement, giving Palantir a considerable edge. Further bolstering its prospects, Palantir is reportedly collaborating with Elon Musk’s SpaceX and defense tech startup Anduril to develop components of the Golden Dome missile defense system—a project seen as pivotal to Trump’s national security strategy.
Entrepreneurs at the helm of these firms, all vocal Trump supporters, appear to be reaping the rewards of political alignment in a rapidly shifting defense landscape.
Expert Insight: “Companies with deep government ties, especially those focusing on defense and infrastructure, are likely to benefit under a Trump administration,” said Phil Blancato, CEO of Ladenburg Thalmann Asset Management.
Newsmax: A Media Powerhouse on the Rise
Meanwhile, conservative media outlet Newsmax (NMAX.N) has enjoyed a blockbuster debut on Wall Street. Following its NYSE listing on March 31, Newsmax stock has soared over 60%, fueled by a surge of retail investor enthusiasm.
Positioned as a staunch Trump ally in the media space, Newsmax’s rise underscores the increasing polarization—and profitability—of politically charged news outlets in today’s media landscape.
The Golden Surge: Miners Shine Amid Uncertainty
Amid mounting fears of a recession, gold has reasserted itself as a safe haven. Newmont Corporation (NEM.N), the world’s largest gold miner, has seen its shares climb nearly 30% since January 20.
International gold miners have similarly thrived, with Barrick Gold (ABX.TO), Gold Fields (GFIJ.J), and AngloGold Ashanti (AU.N) posting impressive gains between 20% and 50%.
Analysts suggest that as long as policy volatility persists, the demand for bullion—and the miners that produce it—will remain robust.
Recent Data: According to the World Gold Council, gold investment demand surged by 18% in the first quarter of 2025 compared to the previous year, a clear reaction to market instability.
Losers: Victims of Trade Wars and Economic Jitters
Airlines Face Turbulent Skies
Trump’s reimposed tariffs and escalating trade conflicts have wreaked havoc on the airline industry. The S&P 1500 Airlines Index has plummeted nearly 33% since the inauguration day, with major carriers like Delta Air Lines (DAL.N), American Airlines (AAL.O), and Southwest Airlines (LUV.N) withdrawing their annual forecasts due to growing uncertainty.
The industry is now lobbying Washington for tariff exemptions, warning that continued trade wars could devastate an already vulnerable sector.
Industry Response: The Airlines for America (A4A) trade group issued a statement urging the administration to “recognize aviation as a strategic economic engine and minimize counterproductive trade barriers.”
Tesla’s Rocky Road
Electric vehicle pioneer Tesla (TSLA.O) has not escaped the turmoil. Shares have tumbled by 33%, driven by concerns that Elon Musk’s deepening involvement with the Trump administration—particularly his advisory role in the newly established Department of Government Efficiency—could detract from his focus on Tesla’s core business.
While Musk recently announced plans to limit his government commitments to one or two days a week, investor skepticism remains high, compounded by Tesla’s continued slide in vehicle sales.
Retail Struggles: Department Stores in Decline
With American consumers tightening their belts amid economic uncertainty, department stores have taken a severe hit. Kohl’s (KSS.N) stock has nosedived 46%, and the company has cautioned that any meaningful turnaround will be slow to materialize. Macy’s (M.N) has fared only slightly better, with a 17% decline after disappointing sales and profit forecasts.
This retail slump highlights broader concerns about shrinking discretionary spending as families prepare for a possible recession.
Tech Tumbles: Electronics Firms Hit Hard
Tariffs have also disrupted technology supply chains, slamming semiconductor and electronics companies. Semiconductor testing giant Teradyne (TER.O) has seen its shares fall nearly 45% since January 20, citing short-term volatility and worsening trade conditions.
Barcode scanner maker Zebra Technologies (ZBRA.O) isn’t faring much better, with shares dropping 40% year-to-date after issuing a warning in February about tariff-related earnings impacts.
Analyst Perspective: “Electronics firms that depend heavily on complex, global supply chains are particularly vulnerable under protectionist trade policies,” noted Morgan Stanley analyst Ravi Shanker.
A New Economic Battleground
As Trump’s second term unfolds, it’s clear that his economic policies are redrawing the map of corporate America. Defense and conservative media companies are among the early beneficiaries, while travel, consumer retail, and tech sectors struggle to adapt to an environment rife with tariffs and uncertainty.
For investors, the new reality demands greater vigilance. Understanding how political shifts impact specific sectors will be crucial to navigating the volatile terrain ahead.
As markets continue to recalibrate, one truth remains evident: Trump’s policies are not just stirring political debates—they are rewriting the rules of Wall Street.
Source: (Reuters)
(Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Readers are encouraged to consult with a licensed financial advisor before making investment decisions.)
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