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Ford gains 1% as Trump applauds upcoming ‘big’ jobs announcement

Published 03/28/2017, 07:27 AM
Updated 03/28/2017, 07:27 AM
© Reuters.  Ford reported to announce three investments in Michigan

Investing.com – Shares in Ford Motor (NYSE:F) were up around 1% in pre-market trade on Tuesday after U.S. President Donald Trump tweeted that the automaker would be making a “big announcement” on jobs in Michigan plants.

Trump’s tweet was likely in reference to a story from The Detroit News citing three sources familiar with Ford’s plans to make investments in three of its Michigan manufacturing plants.

The sources cited by the Detroit news online said Monday after the close that it was unclear how many jobs would be created or the total dollar amount although one of the sources said that the investment would be “significant”.

The official announcement was touted to be planned for Tuesday morning.

At 8:26AM ET (12:26GMT), Ford shares were up 0.96% at $11.57 in pre-market trade.

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