Tags: President Donald Trump | U.S. economy | stock market

Trump Tweets: 'American Business is Hot Again!'

(AP)

By    |   Saturday, 13 January 2018 09:27 AM

President Donald Trump early Saturday touted the economy in a tweet that pointed out Friday's stock market report while announcing that "jobs are coming back to America."

"Yesterday was a big day for the stock market," the president posted.

"Jobs are coming back to America. Chrysler is coming back to the USA, from Mexico and many others will follow. Tax cut money to employees is pouring into our economy with many more companies announcing. American business is hot again!"

On Thursday, Fiat Chrysler Automobiles NV announced that it will invest $1 billion in a Michigan truck factory and send $2,000 bonus checks to 60,000 United States workers.

In addition, the company plans to spend more than $1 billion and add 2,500 jobs at a factory near Detroit, where it will produce the heavy-duty Ram pickup trucks it had been making in Mexico.

The Italian-American automaker will repurpose its Mexico plant to build commercial vehicles, the company said.

Meanwhile, on Friday it was reported that stock funds brought in $24 billion in the first week of 2018, marking the sixth-biggest inflow ever and the most in at least six months.

In addition, on Friday, the S&P 500 and Nasdaq both registered eight record-closing highs out of the first nine trading days of 2018, with the Dow marking its sixth closing high of the year.

JPMorgan, the biggest U.S. lender by assets, said the tax overhaul legislation passed in December will help future profits by reducing its tax bill and stimulating more business. The bank's shares rose 1.7 percent.

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President Donald Trump early Saturday touted the economy in a tweet that pointed out Friday's stock market report while announcing that "jobs are coming back to America."" Yesterday was a big day for the stock market," the president posted."Jobs are coming back to America....
President Donald Trump, U.S. economy, stock market
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2018-27-13
Saturday, 13 January 2018 09:27 AM
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