#Senate #COVID #relief $DIA $SPY $QQQ $RUTX #VXX This decision reinforces reconciliation cannot be used as a vehicle to pass major legislative change by either party on a simple majority vote. In a blow to Democrats, the Senate parliamentarian ruled the chamber cannot include Mr. Biden’s proposed $15/hr minimum wage his $1.9-T VirusCasedemic idea he […]
US homebuilder sentiment advanced in December to the highest mark since Y 1999 amid stronger sales and a surge in prospective buyer foot traffic. The National Association of Home Builders/Wells Fargo Housing Market Index jumped 5 pts to 76, the biggest monthly increase since the end of Y 2017, and the November figure was revised higher, […]
Sluggish inflation gives the Federal Reserve the leeway to keep borrowing costs low and help draw more workers into the labor market, San Francisco Fed Bank President Mary Daly said Saturday. “We’re lucky right now,” Ms. Daly said at University of California, Berkeley’s Clausen Center’s conference on global economic issues. “We can keep the policy […]
The measure of US consumer sentiment improved for the 1st time in 5 weeks as political tension in Washington eased after the longest government shutdown in the country’s history. The Consumer Comfort Index rose to 58.2 last week from 57.4, according to a report Thursday. A measure of ratings about personal finances climbed to a […]
Steady, Sustainable US Economic Growth Means No Recession in Sight The November Employment Report Sustainable is good, job growth is finally trending. The Key Data: Payrolls: +155,000; 3-Month Average: 170,000; Private: +161,000; Revisions: -12,000; Hourly Wages: +0.2% Over-Year: +3.1% What it means: Job gains in November were below expectations. The idea we could sustain hiring […]
Halloween Market Week: Tricks or Treats? $SPY, $AAPL, $FB This is Halloween week and we have more earnings as 1,000+companies will report their Q-3 results and update their forward outlooks. We also have a full slate of economic data, some of which will influence the 2nd edition of the September Quarter’s GDP reading while others […]
President Trump’s Tax Cuts Benefit America’s Working Wage Earners President Trump’s tax cuts on businesses will mostly benefit America’s workers and wage earners. Economist Larry Kudlow made the remarks while debating the effects of tax reform with Gene Sperling, the economist who worked for the Clinton and Hussein Obama Administrations, on TV Wednesday. Mr. Kudlow […]
Americans Workers Seeing Biggest Pay Hikes in Years US workers/consumers said they expected to see the fastest wage growth in several years when polled in January, according to a monthly Federal Reserve Bank of New York survey. Consumers polled expected earnings to rise 2.73% in the coming year, the most since data collection began in […]
Minimum Wage Is Killing US Entry-Level Jobs Wednesday, Andy Puzder, former CEO of CKE Restaurant Group, decried the push to raise the minimum wage, saying that doing so will lead to increased automation and eliminate entry-level jobs for America’s young people. “When wages go up where they impact the profits of a business, these are people […]
The Trump Way: Prosperity, American Populism $DIA Steve Bannon Down, Market Up Signals the Resurgence of Real American Populism There were 2 big stories in the 1st week of this New Year: The DJIA soared 577 points, and Steve Bannon ended his political career. Are these two events related? Perhaps more than you might think. […]
Lackluster US Wage Growth Hobbles Fed on Interest Rate Hikes Mohamed El-Erian, Allianz SE’s chief economic adviser, said l Lackluster wage growth in the US to hobble the Fed in here and halt the raising interest rates. The figure on pay is “disappointing,” Mohamed El-Erian said Friday in a TV inerview. “This will make the […]