Economy
Wall Street and Businesses Race to See Trump's Tweets First
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Imagine thousands of PCs at U.S. businesses and on Wall Street with one window open to @realDonaldTrump. Traders and senior management at businesses that could be affected by the president’s instant economic, business policy and foreign affair comments each want to know real-time how Trump can hurt or help them.
The Trump Twitter feed may be more important to much of the economy and many business sectors than Federal Reserve comments, laws proposed by Congress, stock market moves or earnings reports.
Companies that are affected by tariffs saw this yesterday:
The European Union is coming to Washington tomorrow to negotiate a deal on Trade. I have an idea for them. Both the U.S. and the E.U. drop all Tariffs, Barriers and Subsidies! That would finally be called Free Market and Fair Trade! Hope they do it, we are ready – but they won’t!
— Donald J. Trump (@realDonaldTrump) July 25, 2018
It was instant front page news seen by politicians, Wall Street and businesses that support or oppose the president’s position on trade with Europe. People who care the most about trade were at a temporary loss if they did not have Trump’s Twitter comments available within a fraction of a second.
And recently there was this:
China, the European Union and others have been manipulating their currencies and interest rates lower, while the U.S. is raising rates while the dollars gets stronger and stronger with each passing day – taking away our big competitive edge. As usual, not a level playing field…
— Donald J. Trump (@realDonaldTrump) July 20, 2018
Perfect fuel for some traders and companies that will need to discuss currency exchange rates when they announce earnings.
President Trump’s tweets have been considered among the most important arsenal he has. It has grown more important than announcements by senior members of his administration or the White House press secretary. To miss them as they hit Twitter is to risk a business opportunity or to miss a danger worth knowing about—now.
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