Former President Donald Trump previously spent four years in the White House, which could help investors know which stocks and sectors could benefit under a second term if he wins the 2024 presidential election.
Here's a look back at the top performing stocks in 2017, Trump's first year in the White House.
Top Performing 2017 Stocks: The stock markets saw impressive gains in 2017, which were among the best ever for a president's first year in the White House.
The S&P 500, which is tracked by the SPDR S&P 500 ETF Trust SPY, gained 21.7% in 2017, an impressive gain to the +12.0% increase in 2016, as presidential election years have historically produced outperformance to other years.
With the potential for Trump to be re-elected in 2024, here's a look back at the top 10 performing stocks in the S&P 500 from 2017, as reported previously by Marketwatch.
- NRG Energy NRG: +132%, utilities
- Align Technology ALGN: +131%, health care
- Vertex Pharmaceuticals VRTX: +103%, health care
- Wynn Resorts WYNN: +95%, consumer discretionary
- Boeing Co BA: +89%, industrials
- Micron Technology MU: +88%, technology
- D.R. Horton DHI: +87%, consumer discretionary, homebuilders
- PayPal Holdings PYPL: +87%, technology
- NVIDIA Corporation NVDA: +81%, technology
- Pulte Group PHM: 81%, consumer discretionary, homebuilders
The top 10 stocks in 2017 likely saw gains related to reasons that didn't have to do with Trump being president, but there are also some common themes and some potential connections to the former president.
The results show that health care, consumer discretionary and technology stocks were among the top-performing sectors.
Of particular note is Micron and Nvidia, both ranking in the top 10, a potential positive for the semiconductor sector under a Trump presidency.
Another key trend could be two homebuilders ranking among the top 10 best-performing stocks in 2017. Homebuilders have been a popular sector to watch under a possible Kamala Harris win with the current vice president and Trump running on a platform of building more homes for the middle class.
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Why It's Important: While past results don't guarantee future results, sometimes market trends can show patterns and signs of what to come.
Based on the top-performing stocks in 2017, investors may want to prepare for some exposure to health care, utilities, semiconductors and homebuilders if Trump wins the 2024 election.
With less than two weeks until the 2024 election, investors are likely positioning their portfolios based on a Trump or Harris win in some regards. With a close election predicted, investors may want to look to sectors that could benefit under either candidate.
Freedom Capital Markets Chief Global Strategist Jay Woods previously shared some sectors and stocks to watch with Benzinga that could benefit regardless of whether Trump or Harris wins the 2024 election.
Woods named defense stocks and cybersecurity stocks as two of the top sectors to watch ahead of the 2024 election.
"I think you've got to watch this sector closely," Woods said of the defense sector.
Woods said defense stocks could continue to benefit from geopolitical concerns and a lot of bad things happening in the world.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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