In quarterly calls to discuss earnings with Wall Street, executives’ curated comments fall into two categories: information they are required by the SEC to divulge and things they think investors want to hear.

Aggregating trending topics from those calls, however, offers a glimpse into what’s on corporate managers’ minds.

It was for this reason consulting firm Hamilton Place Strategies data-mined roughly 3,000 earnings calls every quarter for the past three quarters.

Following the inauguration of President Donald Trump in January, 41 percent of those earnings calls mentioned policy changes like tax reform and infrastructure spending.

These policies were of interest to the tech industry because they could boost profits by repatriating overseas taxes or beefing up broadband infrastructure.

Hamilton Place found that by July — with the Trump agenda stalling — such mentions appeared in only 16 percent of earnings calls in all industries.

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