President Donald Trump is pursuing every limit of his executive power during his second term in the White House, at home and, increasingly, abroad.
Sworn in as the 47th president on January 20, 2025, Trump has dealt with multiple real wars. Russia and Ukraine remain an issue, as does the trajectory of Taiwan and China. More recently, Trump turned his attention to Venezuela, where, in early 2026, his administration ousted President Nicolás Maduro from power.
And, in late February, the U.S. and Israel attacked Iran and killed Supreme Leader Ayatollah Ali Khamenei. A new war in the Middle East has constrained the flow of crude oil through the Strait of Hormuz, with no end to the conflict in sight as of late March.
"Future risks remain split between sticky inflation that is threatening to rise further, and labor markets that are showing increasing signs of weakness," Northwestern Mutual Wealth Management Chief Investment Officer Brent Schutte observes. "This narrow and delicate balance has been further disrupted by the Middle East conflict, which threatens to lead to elevated energy prices, potentially increasing inflation while slowing growth, a combination of risks that has pulled equity prices lower."
Crude oil prices surged 48.7% to nearly $100 per barrel during the first month of the war.
"We continue to expect a war of limited duration and favor rebalancing within a diversified portfolio," Wells Fargo Investment Institute head of global strategy Paul Christopher writes, "but the main risk is a longer engagement that damages the global economy and undermines financial markets."
Energy stocks such as Chevron (CVX) have extended year-to-date gains catalyzed first by the Trump administration's move in Venezuela.
How is Trump impacting stocks?
Historically, U.S. presidents have had little direct impact on the stock market.
While particular policies and major public initiatives have created catalysts for certain sectors and industries in the past, presidents have generally avoided "picking winners" among privately held and publicly traded companies.
As is the case in many ways under Trump, things are different. In his second time around as commander in chief, his efforts have expanded to include buying shares in publicly traded companies he deems vital to U.S. national security interests.
As Matthew Housiaux explained in the September issue of The Kiplinger Letter, Trump is "making the government a major shareholder of so-called national champion firms … to shore up the manufacturing base," taking stakes in companies such as Intel (INTC) and Lithium Americas (LAC).
But geopolitics and a broader push into the private sector barely scratch the surface of which stocks could get a lift from Trump's time in the White House.
Here, we look at five stocks to buy for a Trump presidency, representing a variety of industries from banking to crypto to defense.
Bank of America
- Industry: Banks
- Market value: $335.6 billion
- Dividend yield: 2.4%
UBS Global Research analyst Erika Najarian feels banks are in for another year of strong price performance due, in part, to deregulation efforts that include recalibrating capital requirements for large banking institutions. Stabilizing credit quality and accelerating merger and acquisition (M&A) activity could also be tailwinds for financial stocks.
Bank of America (BAC) is one of Najarian's top stock picks for the year. The large-cap stock is trading at an attractive valuation and "gives investors exposure to all the 'good' that is expected out of '26."
Najarian has a Buy rating on BAC, and she's hardly alone in her bullish outlook. Of the 27 analysts covering the stock who are tracked by S&P Global Market Intelligence, 16 say it's a Strong Buy, seven have it at Buy, and four rate it at Hold. This works out to a high-conviction consensus recommendation of Buy.
In this context, a first-quarter sell-off triggered by concern about the impact of artificial intelligence (AI) on incumbents in multiple sectors and industries represents a buying opportunity.
Cameco
- Industry: Uranium
- Market value: $45.3 billion
- Dividend yield: 0.2%
Cameco (CCJ) got a big boost in 2025 when Trump signed an executive order to overhaul the Nuclear Regulatory Commission, which regulates America's existing nuclear reactors and new ones to come.
Under the order, the regulator will be required to decide on applications for the building of new nuclear reactors within 18 months. Trump would like to see nuclear plants of all sizes built in the next few years, including small modular reactors (SMRs).
The executive order also aims to accelerate uranium mining in the U.S., where Cameco doesn't currently operate. But given its two mines in Canada and another in Kazakhstan, it has the expertise to execute in America, too.
BofA Global Securities analyst Lawson Winder says CCJ is a top stock pick for 2026 and his "preferred name in the uranium sector."
Cameco is attractively valued relative to its peers, which Winder believes "implies room for multiple expansion, especially given CCJ's exposure to the entire nuclear supply chain. CCJ is the only large, liquid, U.S.-listed vehicle offering exposure to the entire nuclear supply chain."
GE Aerospace
- Industry: Aerospace and defense
- Market value: $295.5 billion
- Dividend yield: 0.7%
GE Aerospace (GE) was one of the hottest stocks of 2025 — generating a total return (price change plus dividends) of 85.7% on the year. A record budget of $900 billion for the Trump administration's Department of War (formerly the Department of Defense) will help keep the wind at GE's back.
Susquehanna International Group analyst Charles Minervo recently initiated coverage on the industrial stock with a Positive (Buy) rating and a $350 price target, representing implied upside of more than 23% to current levels.
"GE Aerospace is at the center of the aerospace and defense industry, providing propulsion technology and advanced engine systems that power many of the world’s commercial and military aircraft," says Minervo. "A vast installed base of 45,000-plus commercial engines and 25,000-plus military engines that are growing at midsingle digits, respectively, should drive robust services revenue growth through the end of the decade."
GE Aerospace is not only one of the top stocks to buy for a Trump presidency, but Kiplinger believes it's one of the best stocks to buy now, period. In addition to being a defense play, "GE is aggressively buying back shares and increasing its dividend," writes Anne Kates Smith, executive editor at Kiplinger Personal Finance. The stock has pulled back in 2026, but it "seems poised to continue its ascent."
Coinbase Global
- Industry: Financial data and stock exchanges
- Market value: $42.6 billion
- Dividend yield: N/A
During his first administration, Trump made clear he was not a fan of digital assets. But while campaigning in 2024 for what would eventually become his second administration, he took to X (formerly Twitter) to announce he'll unveil a "plan to ensure the United States will be the crypto capital of the planet."
Trump has followed through on promises to bring in a more crypto-friendly administration, with successes such as the July 2025 passage of the Guiding and Establishing National Innovation for U.S. Stablecoins Act, or GENIUS Act (PDF), which established a regulatory framework for stablecoins.
The excitement was enough to send bitcoin and Coinbase Global (COIN) to record highs in 2025, but enthusiasm waned toward the end of the year. However, William Blair analyst Andrew Jeffrey says recent crypto market weakness creates an opportunity for long-term investors.
Jeffrey believes Coinbase represents a compelling risk/reward for investors who want exposure to "a burgeoning, if immature and volatile, crypto ecosystem."
Wall Street is anticipating a strong rally in COIN stock. According to S&P Global Market Intelligence, analysts' average price target of $251.04 represents implied upside of nearly 56% in the next 12 months or so.
Nucor
- Industry: Metals and mining
- Market value: $37.2 billion
- Dividend yield: 1.4%
Nucor (NUE) generated a total return of 42% in 2025, outpacing the broader market by more than 24 percentage points. The materials stock got a lift from Trump's tariff policies, which set rates on most steel imports at 50% — and made steel from Canada and Mexico much more expensive.
NUE could see more upside in 2026 thanks to Trump's One Big Beautiful Bill, which encourages companies to manufacture products in the U.S. It also allows these "Made in America" businesses to deduct the entire cost of qualifying items such as machinery and equipment — a notable increase from the previous 40% deduction.
"Nucor's balance sheet is clean, and management has signaled its confidence with recent dividend hikes," says Argus Research analyst Alexandra Yates, who has a Buy rating on NUE. "With Nucor's diverse portfolio and commitment to investing in higher margin businesses, we see potential for share-price gains and continued resilience."
