Keyword: economy

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  • All main stock indexes close at records ahead of GOP tax bill draft [TRUMP EFFECT]

    12/15/2017 1:43:58 PM PST · by Enchante · 27 replies
    Morningstar ^ | December 15, 2017 | Sue Chang
    All main stock benchmarks closed at records on Friday with the S&P 500 and the Dow Jones Industrial Average extending their weekly winning streak to four as Republicans prepared to outline their final version of the tax bill. Stocks have been sensitive to developments from Capitol Hill on the tax bill and any news that is viewed as a step closer to enacting tax cuts tend to buoy market sentiment. The Dow rose 140 points, or 0.6%, to close at 24,648. The S&P 500 climbed 23 points, or 0.9%, to end at 2,675 while the Nasdaq Composite Index gained 80...
  • NBC Omits Popular Deductions Staying in GOP Tax Bill, Parrots Dems

    12/14/2017 8:34:32 PM PST · by Kaslin · 16 replies ^ | December 14, 2017 | Nicholas Fondacaro
    Congressional Republicans were one step closer to realizing their hopes for tax reform on Thursday as it appeared as though the House and Senate had reconciled nearly all of the legislation. Hearing the recommendations and concerns of the public, the Republicans preserved the current tax codeÂ’s deductions for student loans, medical bills, and added a $10,000 cap for state and local taxes. But of the three major network news outlets, NBC was the only one that left them out of their evening broadcast. Instead of reporting what was known to be in the GOP tax reform bill, NBC Nightly News...
  • Americans Spend More Than Expected as Holiday Season Heats Up

    12/14/2017 4:41:19 PM PST · by Sub-Driver · 12 replies
    Americans Spend More Than Expected as Holiday Season Heats Up November retail sales up 0.8% from prior month; economists saw 0.3% increase By Sharon Nunn Updated Dec. 14, 2017 1:40 p.m. ET 27 COMMENTS WASHINGTON—Americans are spending more this holiday season than analysts expected, fueled by income gains, confidence in the economic outlook, buoyant financial markets and modest inflation. That includes spending at brick-and-mortar stores such as Walmart Inc. and Nordstrom Inc., which clocked the largest year-over-year November sales increase in seven years. Home-furnishing stores, electronics and appliance stores also posted strong spending numbers, despite competition from online shopping websites,...
  • US retail sales rose 0.8% in Nov, vs 0.3% increase expected

    12/14/2017 5:52:05 AM PST · by John W · 28 replies ^ | December 14, 2017 | CNBC
    U.S. retail sales increased more than expected in November as the holiday shopping season got off to a brisk start, pointing to sustained strength in the economy. The Commerce Department said on Thursday that retail sales rose 0.8 percent last month. Data for October was revised to show sales gaining 0.5 percent instead of the previously reported 0.2 percent rise.
  • Apple is backing up AirPods with American jobs

    12/13/2017 6:49:17 PM PST · by House Atreides · 14 replies
    CNN Tech ^ | December 13, 2017 | Kaya Yurieff
    Apple is pouring $390 million into an American company that helps power AirPods and FaceID -- an investment that will create 500 jobs in Texas. The money will come from a $1 billion fund that Apple established earlier this year to boost U.S. manufacturing jobs. Apple says the cash will help Finisar, a chip maker, restart a 700,000-square-foot manufacturing facility in Sherman, Texas, by the second half of next year. The new plant will create 500 "high-skill" jobs. Finisar produces "vertical-cavity surface-emitting lasers" (VCSELs), which power some Apple's newest features, including Face ID, Animoji, Portrait mode selfies and AirPods. The...
  • Have Any Freepers Had Experience With BitCoin/CryptoCurrency?

    12/13/2017 3:02:29 PM PST · by Eagles Field · 89 replies
    12-13-2017 | Eagles Field
    2018, I'm goin'in !
  • Liberal Pundit Paul Krugman is Wrong Again

    12/12/2017 9:32:43 PM PST · by Kaslin · 7 replies ^ | Decemer 13, 2017 | Mike Fuljenz
    At 12:42 am on Wednesday morning, November 9, 2016, the Liberal Nobel-Prize winning economist Paul Krugman filed an article for the New York Times titled “The Economic Fallout,” which began like this:“It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover? Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear. Still, I guess people want an answer. If the question...
  • Obama still doesn’t get it – optimism, not whining, grows an economy

    12/11/2017 3:29:45 AM PST · by Kaslin · 30 replies
    Fox ^ | December 11, 2017 | Liz Peek
    Poor President Obama. He doesn’t think he’s getting enough credit for today’s booming economy. Speaking at a conference of mayors in Chicago recently, Mr. Obama said, “We saw the longest streak of job creation in American history by far — a streak that still continues, by the way.” After a dramatic pause, he added: “Thanks, Obama.” Obama has always been excellent at making speeches. But delivering robust growth? Not so much. Certainly not the kind of 3 percent-plus growth the U.S. is enjoying today, which has forced unemployment to a 17-year low. Instead, we saw an extended period of tepid...
  • Sarah Sanders: Can't Make It Up, Obama Wants Credit for Booming Trump Economy

    12/10/2017 4:43:20 PM PST · by Kaslin · 44 replies ^ | December 10, 2017 | Timothy Meads
    White House Press Secretary Sarah Sanders was vocal on Twitter Sunday, issuing biting criticism of former President Barack Obama. In Sanders’ typically blunt vernacular, she claimed that President Obama did not deserve any credit for the apparent improvement in the economy. However, while the economy is doing well and Trump largely deserves praise, Americans would be wise to pay attention the labor force participation rate.  Since the election "the jobless rate for African Americans dropped from 8% to 7.3%, while for Hispanics it fell from 5.7% to 4.7%...and with Trump's big tax cuts on the way, job growth isn't likely...
  • Baraq Hussein: My climate change fight responsible for longest streak of job creation in US history.

    12/09/2017 2:38:50 PM PST · by libh8er · 110 replies
    Youtube ^ | 12/05/2017 | CBS
    Video link to 4:04 where he says his fight against climate change helped grow economy and create longest streak of job creation in American history (and continues to today). Then he thanks himself.
  • Has Anyone Noticed That Trump's Economy Keeps Beating Expectations?

    12/08/2017 4:48:58 AM PST · by IBD editorial writer · 24 replies
    Investor's Business Daily ^ | 12/7/2017 | John Merline
    The number of people filing for unemployment benefits last week came in "unexpectedly" low. Instead of 240,000 claims, there were 236,000, which marked the third week in a row this number has dropped. That's not a big deal in the grand scheme of things. It's just one measure, after all, and the differences aren't huge. Except it adds to a pile of "unexpectedly" good economic reports that have been coming out these days. ADP reported that payrolls "unexpectedly" climbed 190,000 in November, while analysts had predicted 185,000. Consumer confidence "unexpectedly" hit a 17-year high in November. Labor costs "unexpectedly" fell...
  • Trump’s Conservative Policies Are Bringing Back the Jobs Obama Told Us Were Lost Forever

    12/07/2017 3:04:32 PM PST · by Kaslin · 30 replies
    Rush ^ | December 7, 2017 | Rush Limbaugh
    RUSH: Folks, do not doubt me. They think they have won the House in 2018. They hate Trump and so they think everybody else does. The reasons they hate Trump, they think, are the reasons everybody else hates Trump. They hate Republicans and they think they have succeeded with their buddies in the media in making everybody else hate Republicans. They think the Virginia gubernatorial election is the sign that the country has admitted its mistake and is ready now to get back to normal and elect Democrats to run Washington, D.C. So they have made this assumption. They want...
  • US weekly jobless claims total 236,000 vs 240,000 expected

    12/07/2017 7:03:15 AM PST · by gubamyster · 9 replies
    CNBC ^ | 12/07/2017
    The number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting a rapid tightening of the labor market. Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 236,000 for the week ended Dec. 2, the Labor Department said on Thursday. Data for the prior week was unrevised. It was the third straight weekly decline in claims. Economists polled by Reuters had forecast claims rising to 240,000 in the latest week. Last week marked the 144th straight week that claims remained below the 300,000 threshold, which is associated with a strong labor market. That is the...
  • LinkedIn report shows a 26% rise in November hiring

    12/07/2017 6:21:30 AM PST · by gubamyster · 10 replies
    CNBC ^ | 12/07/2017 | Berkeley Lovelace Jr.
    Hiring across the U.S. was 26 percent higher in November than a year earlier, the LinkedIn report shows. Seasonally adjusted hiring was 2.2 percent lower than in October. U.S. employers hired more people in November than last year, but fewer than in October of this year, according to the LinkedIn Workforce Report. Hiring across the U.S. was 26 percent higher last month than a year earlier, the data showed. The seasonally adjusted hiring figure was 2.2 percent lower than in October. Still, hiring has stayed consistently strong this year, LinkedIn says. Year to date, U.S. hiring has been 10.4 percent...
  • US private sector adds more jobs than expected in November

    12/06/2017 7:27:21 AM PST · by gubamyster · 13 replies
    digitallook ^ | 12/06*2017 | Michele Maatouk
    Private sector employment in the US rose more than expected in November, according to data released by ADP on Wednesday. Employers added 190,000 jobs, versus expectations for an increase of 185,000. In October, 235, 000 jobs were added. Small businesses with fewer than 50 employees added 50,000 positions, while medium businesses with between 50 and 499 employees added 99,000 jobs. Large companies with 500 or more employees added 41,000 jobs. The goods-producing sector recruited an extra 36,000 people, while service providers added 155,000 jobs. Mark Zandi, chief economist at Moody’s Analytics, said: "The job market is red hot, with broad-based...
  • Trump’s Gravest Mistake

    12/02/2017 11:01:37 AM PST · by davikkm · 131 replies
    IWB ^ | Daniel Carter
    Trump continues to make a mistake so costly that it could relegate him to the title of worst president of all time. Let me say first, if you are a Trump supporter, I am not your enemy. I am generally indifferent toward Trump and want the United States to succeed no matter who is president. The purpose of this article is to warn you about what the Deep State has in store for Trump and his supporters. Unfortunately, Trump’s rhetoric plays right into their hands. Recently, Trump made the mistake yet again by tweeting this: The largest and most...
  • NBC Complains Senate GOP Not Seeking Input from Dems in Tax Plans

    11/30/2017 8:32:26 PM PST · by Kaslin · 42 replies ^ | November 30, 2017 | Nicholas Fondacaro
    With the Senate GOP on the verge of passing their version of tax reform on Thursday, NBC Nightly News continued their week-long series where they claimed to break down the tax bills. But in reality, they only sought to stoke the fears of those who weren’t familiar with it. “Once aligned with the House version, it will affect your take-home pay as it adds new credits, takes away some popular deductions and slashes corporate taxes,” announced Anchor Lester Holt at the top of the program, as Capitol Hill Correspondent Kasie Hunt bemoaned how Democrats had no input.After Holt suggested that...
  • Report: 3 Percent U.S. GDP Growth Rate Is Unrealistic

    11/30/2017 7:38:55 AM PST · by grayhog · 27 replies
    Inc. Magazine ^ | 5/19/2017 | Leigh Buchanan Editor-at-large, Inc. magazine
    The fiscal 2018 budget, due to drop Tuesday, will likely reflect assumptions that economic growth of 3 percent or more will make President Trump's spending proposals work. Those are bad assumptions, according to a new research paper from the Committee for a Responsible Federal Budget.... But the number is unrealistic, said Marc Goldwein, senior policy director at the bipartisan CRFB, in a press briefing. A more credible number is just south of 2 percent, more than a percentage point below the 3.2 percent average annual rate the U.S. has enjoyed since 1950.... "The bottom line," said Goldwein, "is we should...
  • If Trump thinks he can get more than 3% economic growth, he's dreaming

    11/30/2017 7:30:41 AM PST · by grayhog · 47 replies
    LA Times ^ | 5/19/2017 | Michael Hiltzik
    With the political world deeply focused on the question of whether the Trump administration comprises a gang of Russian pawns, less attention has been devoted to more mundane questions, such as what ever happened to Trump’s economic policy? As it happens, economists are keeping their eye on that ball, and their conclusion is that it’s in a bad way. More specifically, they recognize that Trump’s policy is aimed heavily at achieving annual economic growth of more than 3%... The U.S. hasn’t had sustained real annual growth (that is, over inflation) of better than 3% since the 1990s, with a brief...
  • US STOCKS SNAPSHOT-Indexes hit record highs, helped by tax bill progress

    11/28/2017 2:19:29 PM PST · by John W · 15 replies
    Reuters via Yahoo Finance ^ | November 28, 2017 | Reuters
    NEW YORK, Nov 28 (Reuters) - Wall Street surged to record closing highs on Tuesday, led by sharp gains in bank stocks and boosted by progress for a tax cut bill, strong consumer confidence data and encouraging comments from President Donald Trump's nominee to lead the Federal Reserve.