Americans Report Stronger Finances in President Trump’s 1st Year

Americans Report Stronger Finances in President Trump’s 1st Year

Americans Report Stronger Finances in President Trump’s 1st Year

$DIA, $SPY, $QQQ, $VXX

The percentage of Americans who report they are doing “at least Okay” financially rose in President Donald Trump’s 1st year in office, according to Fed data published Tuesday.

The data was in line with other readings detailing America’s long recovery from the 2007-09 recession, including years of mostly steady job growth and a more recent uptick in wages.

Improvement was strongest in lower income households.

About 40% of adults faced a high likelihood of material hardship, such as an inability to afford sufficient food, medical treatment, housing or utilities, according to the Fed’s report, which was based on a survey of 12,246 people last year.

Also, about 20% people reported they personally knew someone who had been addicted to opioids. White adults were about twice as likely to be personally exposed to opioid addiction than Blacks or Hispanics, regardless of education levels, the Fed said.

People exposed to opioid addiction also gave more dismal assessments of the local and national economies, although jobless rates in their areas were not higher than in areas where people were less exposed to opioids, the Fed said in the report.

“This analysis suggests the need to look beyond economic conditions to understand the roots of the current opioid epidemic,” according to the report.

The Fed has conducted the survey since Y 2013, although last year was the 1st time people were asked about opioid addiction.

President Trump took office in January 2017 after a Presidential election campaign that included promises to boost the economy and fight opioid addiction.

While the US unemployment rate had been falling for several years before Donald Trump assumed office, it has continued to fall and is currently at a 17-year low at 3.9%.

Tuesday, the major US stock market indexes finished at: DJIA -178.88 at 24834.41, NAS Comp -15.58 at 7378.46 S&P 500 -8.57 at 2724.44

Volume: Trade on the NYSE came in at 821-M/shares exchanged

  • NAS Comp +6.9% YTD
  • Russell 2000 +5.8% YTD
  • S&P 500 +1.9% YTD
  • DJIA +0.5% YTD

HeffX-LTN Major US Stock Market Indexes Technical Analysis

Date Symbol Price Technical Analysis Support Resistance
22 May 2018 QQQ 168.62 Neutral (0.23) 168.37 169.60
22 May 2018 DIA 248.34 Bullish (0.29) 246.90 254.07
21 May 2018 SPY 272.44 Bullish (0.25) 268.87 274.41

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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