Trump/Putin summit, UnitedHealth and Japan’s GDP - what’s moving markets
Investing.com -- President Donald Trump took a more neutral tone toward Tesla (NASDAQ:TSLA) CEO Elon Musk in a press conference on Monday after the close relationship between the two blew up in public last week.
Tesla shares basked in the news, trading up 4.6% into the close.
Trump said he would not be getting rid of the Tesla Model S he bought, but might “move it around” to a different location. He added that he would also not discontinue Musk’s Starlink service, calling it a “great service.”
Trump added he only wishes Musk “well, very well.”
When asked if Musk ever had drugs in the White House, Trump said he does not know but hopes he never did.
The President expects that Musk wants to talk to him, but doesn’t know if he has called yet.
Last week, the two traded barbs over Musk’s disappointment with Trump’s “Big Beautiful Bill”, calling it an “abomination” given that it will swell the deficit and national debt.
Trump said Musk doesn’t like the bill because it repeals the EV mandate, which will thereby hurt Tesla.
Musk denied this was the case, saying Trump was “lying.”
Trump later threatened to revoke Musk’s government contracts, which Musk didn’t back down from, instead threatening to cancel SpaceX’s Dragon program.