Would Donald Trump buy ResMed Inc. (CHESS) and Westfield Corp Ltd shares?

The Donald Trump tax campaign has could spur a rally in the ResMed Inc. (CHESS) (ASX:RMD) share price and Westfield Corp Ltd (ASX:WFD) share price.

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The Donald Trump tax campaign has could spur a rally in the ResMed Inc. (CHESS) (ASX: RMD) share price and Westfield Corp Ltd (ASX: WFD) share price, following a huge rally in U.S. markets on Wednesday.

Overnight, the Dow Jones Industrial Average (DJI) capped off one of the fastest 1,000-point rises ever recorded.

In fact, the U.S. sharemarket (Dow Jones) crossed over 21,000 points for the first time, ending Wednesday's trading session at 21,115 points. The rally was spurred by the U.S. President's speech to Congress, which some said marks an era of a 'new Donald Trump'.

He talked about 'Making America Great Again', of course. But he also added that he will repeal Obama's healthcare program, improve trade policies, spend $US 1 trillion on infrastructure and overhaul U.S. taxes.

I added the bold font to emphasise that those policies would be great news for U.S. focused businesses such as ResMed, Westfield and Cochlear Limited (ASX: COH).

ResMed is a maker of products for the treatment of respiratory issues, like sleep apnoea. It is listed on both the ASX and the New York Stock Exchange. It makes more than 60% of its sales from the U.S.

Cochlear is the well-known Australian company responsible for making hearing aid implants. It is listed on the Australian share market but generates most of its sales overseas, with more than 40% coming from the U.S.

Westfield Corp is the global arm of Westfield shopping centres. Like ResMed, the $18 billion company generates more than 60% of its business in the U.S., with the remainder coming from the U.K. Westfield is likely to benefit from the strong economic growth in the U.S., more jobs and maybe even Trump's plan to boost infrastructure spending.

Foolish Takeaway

Donald Trump's plan to lower taxes, keep jobs in the U.S. and boost spending could be a shot in the arm for the U.S. economy. Overnight, there was growing speculation the Federal Reserve will increase U.S. interest rates in March, which would reinforce the U.S. revival.

I'm not sure if Donald Trump would buy shares of ResMed, Cochlear or Westfield, but he could at least put them on his watchlist.

Motley Fool Contributor Owen Raszkiewicz does not have a financial interest in any company mentioned. Owen encourages your feedback. You can follow him on Twitter @OwenRask. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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