President Trump said the 1 March deadline for US-China trade deal, “If we’re close to a deal where we think we can make a real deal and it’s going to get done, I could see myself letting that slide for a little while, but generally speaking, I’m not inclined to do that.”
Financial markets for stocks firmed substantially on the hope that there could be no new trade tariffs to plague equity markets.
Investors should keep in mind that a really big deal may not be on the agenda, and financial markets would take a lessening of the tax burden on large companies as a good enough deal.
Annual inflation rate slowed to 1.6% in January from 1.9% in December. It is the lowest rate since June of 2017, compared to market expectations of 1.5%, according to the U.S. government’s consumer price inflation (CPI) data.
On a monthly basis, consumer prices were flat, the same as in both December and November. The energy index declined for the third consecutive month, offsetting increases in the indexes for all items less food and energy and for food.
The US labor market continued to power ahead. Job openings, a measure of labor demand, increased by 169,000 to a seasonally adjusted 7.3-M in December, the highest reading since the series started in Y 2000, and which logically causes labor shortages that in turn support wage growth.
Wage growth gains as shown on the wage tracker indices that is provided by the Federal Reserve Bank of Atlanta and now stands for the average overall ‘unweighted’ 3-month wage growth in January at 3.7%
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