The stocks of the manufacturing companies which were meeting with President Donald Trump Thursday were trading mostly lower. The drop comes amid reports that an infrastructure spending plan may be delayed until next year, and tax reform pushed back until at least the summer. United States Steel Corp.
led the decliners, falling 6.7% in mid-morning trade. Caterpillar Inc.
fell 2.4%, and Emerson Electric Co.
fell 1.7%. Lockheed Martin Corp.
and Corning Inc.
were all down 0.7%. GE
was down 0.5%, Whirlpool Corp.
was down 0.4% and Dow Chemical Co.
was down 0.3%. Goldman Sachs Group Inc. shares
were trading down 0.7%. Goldman and Caterpillar combined were shaving about 30 points off the Dow Jones Industrial Average
Trump introduced Goldman’s ex-COO Gary Cohn, now National Economic Council director, to the group as “Gary from Goldman.” The only two stocks to gain were Johnson & Johnson
and International Paper Co.
which were both up less than 1%.