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MARKETS LIVE BLOG:

STOCKS EXTEND GAINS AS RESULTS SEASON KICKS INTO HIGH GEAR

Tech-focused investors prepare for fresh wave of earnings highlighted by struggling Tesla

Chart of the day: Fiat Chrysler shares gain on US investment plan

Seana Smith
·Host

Fiat Chrysler (FCAU) is Yahoo Finance’s chart of the day on news that the automaker will invest $1 billion in US manufacturing. The announcement comes after President-elect Donald Trump criticized automakers for plans to build plants in Mexico and ship cars to the US to be sold. Chrysler has said it will renovate two plants in Michigan and Ohio. The move is expected to be completed by 2020 and create 2,000 new jobs.

Shares of Fiat Chrysler are rising on the news, bringing the stock’s total gains over the past three months to nearly 60%.

Fiat Chrysler has also said it is looking into possibly moving production of heavy-duty pickups that are currently made in Mexico to the US.

The company’s announcement follows Ford’s (F) news last week that it was canceling plans to invest $1.6 billion for a new assembly plant in San Luis Potosi, Mexico. Trump also threatened General Motors (GM) and Toyota (TM) with border taxes if they sell automobiles in the US that are imported from Mexico.

For more on Trump’s potential impact on the auto industry, check out The Final Round on Yahoo Finance, live today at 4 p.m. Eastern.