The Trump Effect: GM (NYSE:GM) Will Invest $1-B in US Factories

The Trump Effect: GM (NYSE:GM) Will Invest $1-B in US Factories

The Trump Effect: GM (NYSE:GM) Will Invest $1-B in US Factories

$GM

General Motors (NYSE:GM) to invest at least $1-B in several of its US factories creating more than 1,000 jobs.

The news about the automaker comes less than 2 weeks after President Elect Donald Trump called out GM for making its Chevy Cruze in Mexico and then shipping the cars to the US without paying border taxes.

During last week;s press conference, Donald Trump turned up the pressure on GM by praising Ford (NYSE:F) and Fiat Chrysler (NYSELFCAU) for investing in the US and adding jobs.

Adding, “I hope that General Motors will be following. And I think they will be.”

GM’s General Cnsel Craig Glidden said the decision to invest more at its American plants did not happen overnight.”

Fiat Chrysler has committed to investing $1-B in two US factories and will build 3 new Jeep vehicles, which will create 2,000 new jobs.

Ford scrapped plans to build a plant in Mexico and will instead spend $700-M to expand a Michigan plant. Donald Trump thanked both automakers last week.

The Trump Effect!

Symbol Last Trade Date Change Open High Low Volume
NYSE:GM 37.34 13 January 2017 -0.17 37.55 37.77 37.15 8,748,800
HeffX-LTN Analysis for GM: Overall Short Intermediate Long
Bullish (0.43) Neutral (0.23) Very Bullish (0.52) Very Bullish (0.53)

Have a terrific week.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.