Shares soar among industrial distributors after Trump victory

Shares of industrial distributors such as Distribution Solutions Group (NASDAQ:DSGR) and equipment-rental company Herc Holdings (NYSE:HRI) surged on Wednesday as investors piled into stocks seen as benefiting from President-elect Donald Trump’s policies on tariffs, taxes, regulation and domestic manufacturing.

Trump had promised to cut corporate income tax rates from 21% to 15% for U.S. companies that produce domestically, while reviving the U.S. industrial base and prioritizing areas seen as vital for national security. He also pledged to raise tariffs on imports, though it’s not clear if Trump will be successful in this strategy as other countries threaten to retaliate, observers have said.

Industrial distributors and related companies whose stocks jumped on Wednesday morning include:

• Distribution Solutions Group (DSGR) +12.5%
• Herc Holdings (HRI) +10%
• Karat Packaging (NASDAQ:KRT) +11%
• Xometry (NASDAQ:XMTR) +11%
• Applied Industrial Technologies (NYSE:AIT) +10%
• Wesco International (NYSE:WCC) +10%
• H&E Equipment Services (NASDAQ:HEES) +8.1%
• Global Industrial Co. (NYSE:GIC) +9%
• DNOW (NYSE:DNOW) +9.1%
• United Rentals (NYSE:URI) +8.5%
• Custom Truck One Source (NYSE:CTOS) +9.4%
• Titan Machinery (NASDAQ:TITN) +9.2%
• MRC Global (NYSE:MRC) +8.9%
• MSC Industrial Direct (NYSE:MSM) +8.9%
• Transcat (NASDAQ:TRNS) +6.5%