Economics
Trump Tweets Early on Jobs Data, and Wall Street Takes the Hint
- Economists warn that traders will now also interpret silence
- Stocks jumped after Trump hinted jobs report would be positive
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There’s a reason presidents and policy makers carefully avoid saying a single word about important economic numbers before they’re officially released. Traders react to even the slightest hint, moving markets and causing turmoil on incomplete information.
That’s what happened Friday morning when President Donald Trump tweeted a big hint about the monthly employment numbers, one of the most closely watched pieces of government data.