ANALYSTS: STOCK RECORDS DUE TO MORE THAN TRUMP
The stock market has never been higher, and President Donald Trump would like more people to pay attention.
“Stock Market could hit all-time high (again) 22,000 today,” Trump tweeted Tuesday about the Dow Jones industrial average, before it ended the day at a record 21,963.92. “Was 18,000 only 6 months ago on Election Day. Mainstream media seldom mentions!”
The 18,000 figure he cited was inaccurate: The Dow closed at 19,890.94 six months ago. It was at 18,332.74 on Election Day, nearly nine months earlier.
Analysts say credit for the gains of the last few months should go to stronger profits for companies at home and improving economies abroad, not just to hopes for Trump’s presidency.
Trump says Foxconn may invest $30 billion.
WASHINGTON»
President Donald Trump mentioned Tuesday that Foxconn’s chairman told him in confidence the electronics giant’s investment could reach $30 billion, triple the size of last week’s deal with Wisconsin that some already viewed as optimistically inflated.
Trump made the comments while addressing small-business leaders at the White House. He didn’t elaborate on how the figure could grow so high or even clarify whether he was referring to just Wisconsin or nationwide — including investments in other plants not yet announced.
Foxconn officials didn’t immediately respond to a request for comment.
Customers stuck with bill for closed nuclear reactors.
COLUMBIA, S.C.
» Customers who have helped foot a multibillion-dollar bill for two new nuclear reactors won’t see a dime in refunds even though the project has been abandoned.
South Carolina Electric & Gas customers have been paying for the reactors since 2009. SCE&G and state-owned Santee Cooper decided Monday to scuttle their project at V.C. Summer Nuclear Station north of Columbia after years of delays and cost overruns and the bankruptcy of its main contractor.
Deliberations continue in Shkreli trial.
Jurors have deliberated for a second day at the federal securities fraud trial of former pharmaceutical company CEO Martin Shkreli.
They got the case Monday in New York. Deliberations resume Wednesday.
Prosecutors say Shkreli looted his drug company to pay back investors in two failed hedge funds he ran. The defense says investors got their original investments back and even made hefty profits.
The former biotech CEO — nicknamed “Pharma Bro” — is best known for hiking up the price of a life-saving drug and trolling critics on social media.
Montana gets money to retrain coal workers.
MONT.» The U.S. HELENA, government awarded $4.6 million in aid on Tuesday to retrain hundreds of Montana coal workers, many of whom will soon be out of jobs because of a partial closure of the coalfired Colstrip power plant.
15 states appeal EPA delay of stricter air standards.
WASHINGTON» Attorneys general from 15 states and the District of Columbia are suing over the Trump administration’s delay of Obama-era rules reducing emissions of smog-causing air pollutants. The states have petitioned the U.S. Court of Appeals for the D.C. Circuit to overturn Environmental Protection Agency Administrator Scott Pruitt’s extension of deadlines to comply with the 2015 Ozone National Ambient Air Quality Standards.
Colorado was not one of the states.
Costco co-founder dies.
Costco Wholesale Corp. announced the death early Tuesday of its co-founder and board chairman Jeff Brotman.
No other details were provided.
Brotman opened Costco’s first warehouse with Jim Sinegal in 1983 in Seattle.