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Donald Trump & Co.

Trump Tweets Keep Market on Its Toes

December 12, 2016

This week, the big market news story should have been news the Fed’s decision on whether it would raise interest rates for the first time in a year. But this is not a normal week, nor is it a normal year.

 

Instead, Trump remains front and center, because he is, well, ……… being Trump. Not only is he telegraphing what he intends to focus as President, but he’s do so regularly with his tweets.

 

Following his indication he is tapping ExxonMobile CEO Rex Tillerson for Secretary of State, Trump took to the twittersphere Monday morning to bash the expense of the F-35 fighter plane, whose costs are “out of control.” In his usual head-snapping way, Trump has put forth a new course for U.S. activity to be presumably Big Oil while at the same time relatively down on Big Defense.

 

Oh, and shares of Lockheed, which makes the F-35 jet, were down 2.5% in the pre-market in the wake of Trump's latest tweet.

 

Later this week, Trump meets with chief executives of Apple AAPL, Microsoft MSFT, Oracle ORCL and others to discuss Big Tech policy going forward. If his recent comments are any indication, expect the President-elect not to mince words. Whether he tweets the results of the meeting will apparently be up to his discretion, as always.