Trump tweets could move markets

Trump tweets could move markets

NEW ORLEANS, LA (WVUE) - President-Elect Donald Trump hasn't laid off of Twitter, despite a promise to ditch the social media giant if elected.

He's still tweeting daily, often about successes tied to his impending presidency - like touting Jackie Evancho's record sales since signing on to the inauguration celebration.

But FOX 8 political analyst Mike Sherman thinks Trump's tweets can carry more impact when he weighs in on larger issues.

"When a president of the United States makes a statement, it moves markets, it makes foreign countries react. Donald Trump will be the first to use Twitter this way. When he sends a provocative tweet, we'll be looking to see, does it move financial markets? Will it spur foreign powers to react?" Sherman said.

It seems his tweets are already having an effect. After blasting General Motors for its Mexican-made Chevy Cruze, Trump triumphantly tweeted Ford's decision to keep production stateside and add jobs.

"As president, when you're looking at the unemployment rate or job creation, job loss, you're looking in the millions of jobs, it's a really big number. So when we look at these microcosms, these Fords, the Chevys, the Carriers, they become much more symbolic of what the Trump presidency will look like. A few hundred jobs here and there in the country isn't a big deal, but it becomes important as symbolism for the millions of jobs that will be created or lost during a Trump presidency," Sherman said.

Still, some Democratic leaders think Trump's heavy use of Twitter isn't appropriate for his position.

"We can't have a Twitter presidency. Twitter is a great way to communicate, I do it all the time. And the president-elect is entitled to do it all the time. It's necessary but hardly sufficient," said Sen. Chuck Schumer of New York.

While Twitter may be an effective tool for Trump, President Barack Obama still holds the office and is issuing executive orders to remove prisoners from Guantanamo Bay ahead of the next administration, yet another issue Trump is taking to Twitter. But Sherman said all of Obama's moves in the final hour likely won't stick once Trump enters the Oval Office.

"He still has an immense amount of authority as president, some of them like issuing pardons can't be undone, but there are many things he can do via executive order that Donald Trump can repeal on day one, and we expect him to do some repealing of executive orders on day one," Sherman said.

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