The KUIK Morning Market Report for Monday, January 16:
Markets are closed in honor of Martin Luther King day, but here are some of the stories we are following.
Republican Sen. Marco Rubio has become the central figure in the Senate confirmation drama over former Exxon CEO Rex Tillerson, President-elect Trump’s choice to lead the State Department. Two other Republican senators have expressed reservations about Tillerson, they are John McCain of Arizona and Lindsey Graham of South Carolina. The three have raised concerns about Tillerson’s relationships with senior figures in the Russian government and are undecided whether to support Tillerson after an eight-hour hearing on Capitol Hill last week. Rubio sits on the Foreign Relations Committee, which will vote on whether to support the nomination. Republicans have a one-vote advantage on the panel.
President-elect Trump told companies they will have to shift manufacturing to the U.S. in order to do business here, in a series of comments indicating a tough posture toward U.S. trade partners. “Car companies and others, if they want to do business in our country, have to start making things here again. WIN!,” Mr. Trump wrote on Twitter on Sunday. The comments came as Trump reiterated in an interview with a German newspaper that his administration would levy a 35% import tax on autos built in Mexico for export to the U.S.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
