Strong US Economic Growth Is Sustainable
$DIA, $SPY, $QQQ, $RUTX, $VXX
Friday, the White House chief economic adviser Larry Kudlow said strong economic growth is sustainable and will continue.
“I don’t think this is the end of the numbers,” Mr. Kudlow said. “I was watching some TV this morning and people are saying well, you know, they got one but it is not sustainable. It is sustainable. We’ve lowered tax rates. We’ve rolled backed regulations. We’ve unleashed energy. We’re moving to fix the broken world trading system.
“You can see big numbers on capital spending, business investment. … Productivity is going to come from that. Higher wages for ordinary working folks throughout the country. It’s a good story, a solid story. My hunch is it’s going to go on for quite a while. It is not just one quarter.”
Mr. Kudlow said he recognizes there will be those who fault the growth numbers.
“I know, everybody wants to nitpick and everyone wants to do some ankle biting,” he said. “Basically, the private economy has grown better than 4% and virtually no inflation.”
Mr. Kudlow added: “Is 4% sustainable? Some people would say no. I’m going to say Yes. I think the incentives in the economy and the loosening up of the regulatory, the confidence, the profits … I’ll take 3%.”
Friday, the major US stock market indexes finished at: DJIA -76.01 at 25451.06, NAS Comp -114.77 at 7737.42, S&P 500 -18.62 at 2818.56
Volume: Trade on the NYSE came in at 756-M/shares exchanged
- NAS Comp +12.1% YTD
- Russell 2000 +8.3% YTD
- S&P 500 +5.4% YTD
- DJIA +3.0% YTD
Heffx-LTN’s US Major Stock Market Indexes Technical Analysis for the weekended 27 July 2018
America First and MAGA
Have a terrific weekend