Power Play: A gem under a Trump White House

A Medtronic worker assembles a device that is inserted into a heart pacemaker.
Munshi Ahmed | Bloomberg | Getty Images

The Trump rally stalls on Wednesday, with the Dow lower after rising for seven straight sessions. Kate Warne, principal and investment strategist at Edward Jones, tells CNBC's "Power Lunch" the trajectory for the market is still up.

"The bull market continues, energized by a brighter business outlook in 2017. Investors are looking favorably at the impacts of higher infrastructure spending, tax cuts and a variety of regulatory changes," Warne said.

Dow on track to snap 7-day win streak; S&P falls as utilities, financials lag

One company Warne expects to perform well under a Trump administration is medical device market Medtronic. "Despite regulatory uncertainty for the health care industry, the aging population worldwide means more demand for medical devices for hearts, diabetes, spinal cords and minimally invasive surgery," Warne said.

According to Warne, Medtronic has a dividend yield of 2.1 percent and is expected to grow its dividend 8 percent annually over the next five years. Medtronic is higher during trading and is up 5 percent year-to-date.

Does a Trump administration equal a bull market?