Society

Trump Speech Boosts Boeing Stock

| by Jordan Smith

President Donald Trump delivered a speech on Feb. 17 at Boeing's manufacturing facility in South Carolina to mark the release of its latest "Dreamliner" aircraft, the Boeing 787-10.

The company's share price rose to a record high at the conclusion of Trump's remarks, at $173 per share, The Hill reports.

Boeing presented its new aircraft to a crowd along with a prayer and theme music.

Trump's visit was the first by a sitting president to Boeing's South Carolina facility.

Popular Video

This young teenage singer was shocked when Keith Urban invited her on stage at his concert. A few moments later, he made her wildest dreams come true.

"The name says it all: Dreamliner," added Trump. "Our country is all about making dreams come true."

Trump was given a tour of the aircraft and was seen sitting in the pilot's seat.

"This plane was built right here in the great state of South Carolina," said the President. "Our goal as a nation is to rely less on imports and rely more on products made here in the USA."

He also warned in his speech that there would be a "substantial penalty" for any company looking to move production abroad. The 787-10 was built entirely at Boeing's South Carolina facility.

Popular Video

This young teenage singer was shocked when Keith Urban invited her on stage at his concert. A few moments later, he made her wildest dreams come true:

"As your president, I'm going to do everything I can to unleash the power of the American spirit and to put our great people back to work," added Trump. "It has to be much easier for manufacturers in our country, and much harder [for them] to leave."

Trump finished his speech by declaring, "God bless Boeing."

Trump also hinted that the military could increase its orders for Boeing's F-18 Super Hornet fighter jets. The president has criticized Lockheed Martin, Boeing's rival, for the high cost of its F-35 fighter plane.

"If the price doesn't come down, we would," Trump said, according to Bloomberg. "The F-18's a great plane and now put a stealth component onto it."

Defense Secretary James Mattis ordered a review into whether an upgraded version of the F-18 would be a more cost-effective option.

Boeing's shares have risen in value 11 percent in 2016. Its 1.1 percent gain on Feb. 17 was the second highest on the Dow Jones Industrial Average for the day.

Sources: The Hill, Bloomberg / Photo credit: Julian Herzog/Wikimedia Commons

Should companies be penalized for moving abroad?
Yes - 0%
Yes - 0%