Author Topic: Trump recovery update  (Read 8262 times)

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Offline AngryRedMan

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Re: Trump recovery update
« Reply #300 on: August 08, 2017, 08:07:16 PM »
--The guy's been spinning out for several years now. I think this last election must have pushed him over the edge.

Says the necrophiliac.
I invited them to, but it was never compulsory. They usually cheerfully accepted, except for the few occasions where my son chose to lie on the floor instead.

Online Mornac

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Re: Trump recovery update
« Reply #301 on: August 11, 2017, 07:09:24 PM »
Corporate America Is Having Its Best Earnings Season in 13 Years

Jack Kaskey
August 11, 2017

- Strengthening global economies and weaker dollar fuel gains

- Almost 80% of the S&P 500 have topped earnings estimates

Overseas demand is driving the best earnings season for U.S. companies in 13 years, with top executives from Dow Chemical Co. to Morgan Stanley citing rising foreign sales, a dynamic that should help propel gains in the second half.

With nearly every global economy showing growth, corporate profits in the second quarter have beaten estimates at more than three-quarters of the Standard & Poor’s 500 member companies. In every sector, at least half of the companies have surpassed or met expectations, with many also getting a boost from a sinking U.S. dollar.

“Growth was particularly strong in key regions of North America and Europe, where we grew sales greater than twice GDP, as well as throughout Asia-Pacific,” Dow Chief Executive Officer Andrew Liveris said on a conference call to discuss quarterly profit of $1.3 billion, which surpassed analysts’ expectations.



While Europe was the source of earnings strength in the first three months of 2017, emerging-market sales were the driving force from April through June, said Jill Carey Hall, a U.S. equity strategist at Bank of America Corp. American companies with large overseas revenue beat estimates for sales and earnings twice as often as those with a domestic focus, she said.

“For multinationals, the news has been not just that their U.S.-based operations are doing well, but in some cases that their overseas operations are doing even better,” said Mark Luschini, who helps manage $74 billion as chief investment officer at Janney Montgomery Scott. Companies in the S&P 500 get 44 percent of their revenue outside the U.S, he said.

A weakening dollar also benefited U.S. companies such as Kellogg Co., which beat earnings estimates and said exchange rates will reduce 2017 profit by half as much as previously estimated. The dollar fell 6.4 percent against a basket of major world currencies in the first half of 2017.

The dollar is down in part because President Donald Trump’s economic agenda has stalled, especially tax reform, said Walter “Bucky” Hellwig, a senior vice president at BB&T Wealth Management, who helps manage $17 billion. A weaker greenback helps overseas revenue by making American exports cheaper while also increasing the dollar value of foreign sales.



Of the 454 companies in the S&P 500 that have so far reported second-quarter results, 68 percent have beaten analysts’ average estimates for revenue and 78 percent have topped per-share earnings expectations, according to data compiled by Bloomberg. Earnings rose an average of 9.8 percent, while sales have climbed 5.5 percent.

The quarter is on pace to post the highest number of S&P 500 companies beating sales estimates in 13 years, according to an Aug. 7 note from Bank of America equity strategists. Earnings beats also are the highest since 2004, they said.

One glaring anomaly is that companies topping expectations on both sales and earnings aren’t getting rewarded with immediate stock market gains, Bank of America’s Hall said. That’s the first time that’s occurred since the second quarter of 2000, just before the technology bubble burst, she said.

The data point probably signals that company valuations were already elevated heading into earning reports, not that the market gains are over, she said. The Dow Jones Industrial Average surpassed 21,000 and the S&P 500 Index topped 2,400 for the first time last quarter.

On the other side of the spectrum, companies with results that trailed expectations were punished with larger stock declines than in quarters past.

“Some stocks have gotten their face ripped off when they miss,” Luschini said.

For instance, paintmaker PPG Industries Inc. tumbled 6.1 percent after reporting sales that trailed all analysts’ estimates as the Pittsburgh-based company turned away some business in an effort to raise prices. That was PPG’s biggest earnings-day decline since 2010.


Technology has been the best-performing sector, with 93 percent of companies beating estimates, according to data compiled by Bloomberg. Rising demand outside the U.S. drove much of the gains, said Jim Paulsen, chief investment strategist at Leuthold Group.

“More of the global economy is participating in this recovery simultaneously, and that’s what shows up in the top-line results, particularly in technology,” Paulsen said.

Facebook beat earnings and sales estimates in the quarter as advertising revenue jumped 50 percent on mobile demand and its Instagram photo-sharing platform, and Asia-Pacific led gains in active users.

The second-best sector so far is health care, with 86 percent of companies topping profit expectations. Johnson & Johnson topped analysts’ estimates and also boosted its full-year revenue and adjusted earnings forecasts.

Banks Beat

Financial companies, which beat profit expectations 82 percent of the time in the second quarter, are benefiting from increased bank lending and a healthy stock market that supports acquisitions and new share offerings, Paulsen said. Morgan Stanley beat expectations by one of the largest margins in the financial sector as equity fees were bolstered by the recovery in Europe.

“We saw a very strong European activity as well as increased results in Asia,” Morgan Stanley Chief Financial Officer Jonathan Pruzan said on the second-quarter conference call.

The momentum of the past three months should continue into the second half with the dollar remaining weak and global economies continuing to expand.

“The dollar is going to contribute again in the third quarter,” Hellwig said.

Source

Offline Steve McGarrett

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Re: Trump recovery update
« Reply #302 on: August 11, 2017, 07:27:29 PM »
http://abcnews.go.com/Health/wireStory/study-trump-actions-trigger-health-premium-hikes-2018-49129908

Study says Trump moves trigger health premium jumps for 2018

By ricardo alonso-zaldivar, associated press

 ·
WASHINGTON — Aug 10, 2017, 11:23 AM ET

Actions by the Trump administration are triggering double-digit premium increases on individual health insurance policies purchased by many people, according to a nonpartisan study.

The analysis released Thursday by the Kaiser Family Foundation found that mixed signals from President Donald Trump have created uncertainty "far outside the norm" and led insurers to seek higher premium increases for 2018 than would otherwise have been the case.

....more

Online Mornac

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Re: Trump recovery update
« Reply #303 on: September 12, 2017, 02:32:23 PM »
Middle-class income hit highest level on record in 2016, Census Bureau reports

Heather Long
September 12

America's middle class had its highest-earning year ever in 2016, the U.S. Census Bureau reported Tuesday.

Median household income in America was $59,039 last year, surpassing the previous record of $58,655 set in 1999, the Census Bureau said. The figure is adjusted for inflation and is one of the most closely watched indicators of how the middle class is faring financially, as the Census surveys nearly 100,000 homes.

The Census said the uptick in earnings occurred because so many people found full-time jobs — or better-paying jobs — last year.

America's poverty rate fell to 12.7 percent, the lowest since 2007, the year before the financial crisis hit. The percent of Americans without health insurance for the entire year also dropped in 2016 to just 8.8 percent, the lowest ever, largely thanks to expanding coverage under the Affordable Care Act.



"Today’s Census report is unambiguously good news: On income, on poverty and on health insurance," said Bob Greenstein, founder and president of the Center on Budget and Policy Priorities, a left-leaning think tank.

Economists hailed the news as evidence the recovery is finally taking hold after years of frustration for the middle class, which watched the stock market soar while the average American's income barely budged. Donald Trump tapped into this anger in the 2016 campaign, often saying people were no better off economically than they were in 2000.

Almost everyone saw an increase in income last year, Census officials said. They cautioned, however, that the Census changed its methodology in 2014, so they are hesitant to definitively say it's the highest median income ever. Still, they touted the strong gains in the past two years as "significant." Incomes dropped the most from 2014 to 2016 of any two-year period since the 1960s, CBPP found.

"This is a really great report card on what the Obama administration accomplished," says Peter Atwater, president of Financial Insyghts.

The challenge for Trump is to make sure incomes keeping going up and poverty keeps going down during his tenure. "We don't want this to be as good as it gets," Atwater said.

Inequality is still vast in America, with big disparities by race and class. Median income for African-American households was only $39,490 last year, far lower than $65,041 for whites. Asians fared the best, earning $81,431. The rich also continue to get wealthier, while the nation's poorest families -- the bottom 20 percent who earn $24,000 or less -- remain worse off financially than they were in 1999.

"It's welcome news, but we're not popping champagne corks yet," said economist Elise Gould of the left-leaning Economic Policy Institute. She believes "we need a few more years of gains" to really say the average American is getting ahead.

Julian West, of Phoenix, is a good example of someone whose life dramatically improved last year. For much of the recovery, the only jobs he could find were “dead-end” ones. He was working for $7.25 an hour, the minimum wage in his state, at carwashes and stores such as Dollar Tree.

“I was really struggling,” says West, who was forced to move back in with his parents.

In 2016, he went to a temp agency in Phoenix and landed a job paying $18 an hour. It didn’t last, but the recruiter at the agency called again and moved him to the job he has now monitoring car-loan payments and repossessions for BB&T Bank. The job pays $16 an hour. He works full time and often gets several hours of overtime a week, boosting his weekly take-home pay significantly.

[Half of the jobs in America pay less than $18 an hour]

“I’m slowly saving and paying off bills,” West, who is now 44, told The Washington Post. He has moved into a small studio apartment now that’s he’s on track to make over $35,000. It’s less than the median, but it’s a substantial bump from his minimum-wage days.

West credits President Barack Obama for helping turn around the economy and lift up workers like him. He didn’t vote for President Trump, but he says he’s hopeful someone that rich and successful will be able to keep the country on track.

“I’ll be middle class again if I keep my spending to bare bones,” West said.

Source

Online Pepsi

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Re: Trump recovery update
« Reply #304 on: September 12, 2017, 03:27:19 PM »
Middle-class income hit highest level on record in 2016, Census Bureau reports

Heather Long
September 12

America's middle class had its highest-earning year ever in 2016, the U.S. Census Bureau reported Tuesday.


Who was president in 2016?
So let's see how fucking brilliant I truly am.
Clinton will not ever be President of the United States.

Online Mornac

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Re: Trump recovery update
« Reply #305 on: September 12, 2017, 04:42:44 PM »
Who was president in 2016?
--Barack Obama.

Offline Steve McGarrett

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Re: Trump recovery update
« Reply #306 on: September 12, 2017, 09:30:39 PM »
Who was president in 2016?

I noticed that, too.  You have to wonder if the Trump-lover poster even read his article.   ::)

And then there was this.
" The percent of Americans without health insurance for the entire year also dropped in 2016 to just 8.8 percent, the lowest ever, largely thanks to expanding coverage under the Affordable Care Act.

Online Mornac

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Re: Trump recovery update
« Reply #307 on: September 12, 2017, 11:24:03 PM »
$2 trillion man? Market value added since Trump's election win passes milestone

- The S&P 500 has added $2.04 trillion in market value since Trump's election last November, said Howard Silverblatt, senior Index analyst at S&P Dow Jones Indices.

- Tech is up nearly 30 percent since the election, and has also added $1.019 trillion in value to the S&P in the time period, the most out of any sector.

Fred Imbert

Like it or not, the U.S. stock market has performed exceptionally well since President Donald Trump was elected.

The S&P 500 has added $2.04 trillion in market value since Trump's election last November through Monday, according to Howard Silverblatt, senior Index analyst at S&P Dow Jones Indices. The benchmark rose to a record on Monday and then another in early trading Tuesday.

The index initially soared after the election, in part, on hopes of tax reform from the new controversial new president. The U.S. has one of the highest corporate tax rates in the world and a reduction of that would bulk up companies' bottom lines.

One of the biggest beneficiaries from tax reform would be the information technology sector, the stalwart of the U.S. stock market since Nov. 8.

A key component of Trump's tax reform plan is to let companies bring overseas profits to the U.S. without paying the 35 percent U.S. corporate tax rate. Companies like Microsoft, Apple and Google-parent Alphabet have billions of dollars parked overseas and a lower tax rate could incentivize them to bring that money back to the U.S.

Tech is up nearly 30 percent since the election, and has also added $1.019 trillion in value to the S&P in the time period, the most out of any sector, S&P Dow Jones' Silverblatt told CNBC in an email.

But tax reform hopes have fluctuated as the administration has faced several hurdles trying to move its agenda forward, including in-party fighting.

"People are in wait-and-see mode in terms of tax reform. We get a bit of a pop every time it gets mentioned, but I think the market is in a bit of disbelief," said Robert Pavlik, chief market strategist at Boston Private.

Still, the S&P 500 is up more than 16 percent since Nov. 8, with some market experts pointing to strong earnings growth, rather than Trump, as a key catalyst for the continuous rise.

S&P 500 since US election



"I think this has been more fundamental than anything," said Mike Bailey, director of research at FBB Capital Partners. "It's been mostly about earnings."

Nick Raich, CEO of The Earnings Scout, said corporate earnings growth came in above historical trends in the first half of the year. Earnings for the S&P 500 grew by 15 percent in the first quarter and by more than 11 percent in the second quarter, Raich said.

Earnings growth was stuck in the mud for most of last year, falling for three straight quarters before growing more than 9 percent in the fourth quarter.

While this year's phenomenal earnings growth may not be a direct result of Trump's election, it has increased investors' appeal for defense stocks.

The iShares U.S. Aerospace & Defense ETF (ITA) has risen 30 percent since the election and is up 20 percent in 2017 as Trump's election has heightened geopolitical tensions.

On Sept. 3, North Korea conducted a successful hydrogen bomb test, about a month after Trump said the Asian country's threats would be met with "fire and fury."

All that said, renowned hedge fund manager Jim Chanos said giving Trump credit for the market's rally is a "stretch." Instead, he noted on CNBC's "Fast Money Halftime Report" on Tuesday that equities around the world are in a "synchronized bull market."

Source

Online Pepsi

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Re: Trump recovery update
« Reply #308 on: September 13, 2017, 02:32:55 PM »
I noticed that, too.  You have to wonder if the Trump-lover poster even read his article.   ::)

And then there was this.
" The percent of Americans without health insurance for the entire year also dropped in 2016 to just 8.8 percent, the lowest ever, largely thanks to expanding coverage under the Affordable Care Act.

he is a wannabe propagandist.. Obama bad Trump good.. the economy sucked in October 2016.. starting in November the economy couldnt be better don't you know!
So let's see how fucking brilliant I truly am.
Clinton will not ever be President of the United States.

Online Mornac

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Re: Trump recovery update
« Reply #309 on: September 15, 2017, 12:50:07 PM »
Stocks hit record highs after tech rises, set for strong weekly gains

The three major indexes entered Friday having gained at least 1 percent.

The Dow, S&P and Nasdaq have all set record highs since Monday.

Fred Imbert
September 15, 2017   

U.S. stocks rose to record levels on Friday, led by tech, and were set to post strong weekly gains.

The Dow Jones industrial average hit a record high shortly after the open. The 30-stock index rose about 45 points, with Boeing and Apple contributing the most to the gains.

The S&P 500 rose 0.1 percent to a record, with information technology and telecommunications leading advancers. The Nasdaq composite outperformed, trading 0.4 percent higher and also managed an intraday record.

Tech stocks kicked off the session among the worst performers before turning around in late-morning trading. Shares of Apple, Netflix and Facebook all traded higher.

The three major indexes entered Friday having gained at least 1 percent. The Dow was also on pace for its biggest weekly gain since the week of Dec. 9.

"The market has been digesting its gains in a consolidation phase following Monday's gap up in the SPX," said Katie Stockton, chief technical strategist at BTIG, in a note. "The breakouts that have developed suggest overbought conditions will be absorbed without a significant pullback."

The SPDR S&P Bank exchange-traded fund (KBE) has gained 3.8 percent for the week, on pace for its best weekly gain since December. The jump comes on the back of stronger-than-expected inflation numbers which increased expectations of a Federal Reserve rate hike.

The Labor Department said Thursday the Consumer Price Index rose 1.9 percent last month on a year-over-year basis. Market expectations for a December Fed rate hike are now at 52.9 percent, according to the CME Group's Fedwatch tool.

"Although CPI remains below the FOMC's 2% target the move back higher should be enough to convince most observers that the Q2 weakening was a temporary phenomenon and that this version of inflation should be able to move back above 2.0% during the 4th quarter," said Michael Shaoul, chairman and CEO of Marketfield Asset Management.

"Our own view is that current consensus underplays the degree to which CPI has been held back by the long commodity bear market that extended well beyond energy prices," Shaoul said.

The Fed is scheduled to announce its latest decision on monetary policy next week. Most market participants do not expect a rate hike. However, the central bank is expected to announce the unwinding of its massive $4.5 trillion portfolio. The Fed accrued most of its holdings during the Financial Crisis.

U.S. Treasury yields have also surged this week. The benchmark 10-year yield started the week near 2.09 percent; it traded around 2.19 percent Friday.

Wall Street digested two key data sets Friday ahead of the Fed's meeting.

Retail sales for August fell 0.2 percent. Economists polled by Reuters expected a 0.1 percent gain.

"I think Hurricane Harvey had a bit of an impact on the data," said Christian Magoon, CEO of Amplify ETFs. "Remember, you had a one-week run-up to Harvey making landfall."

Meanwhile, industrial production fell nearly 1 percent last month.

Investors also looked to Asia after North Korea launched a missile that flew over Japan and landed in the Pacific Ocean. Still, world markets had a mixed reaction to the event. The European Stoxx 600 index fell 0.4 percent while the Japanese Nikkei 225 rose 0.52 percent.

"You could spin this as resiliency or complacency," said Amplify ETFs' Magoon. "This market seems a bit out of touch with reality. ... The risk to the downside is not getting as much respect as the upside risk."

Source

Online Mornac

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Re: Trump recovery update
« Reply #310 on: October 02, 2017, 01:04:13 PM »
Dollar, stocks gain on U.S. economic outlook

Herbert Lash

NEW YORK (Reuters) - World stock markets climbed on Monday, lifted by optimism over the outlook for corporate earnings and U.S. President Donald Trump’s tax reform plan, while the U.S. dollar gained after a manufacturing index rose to its highest level since 2004.

Spanish borrowing costs rose and stocks fell as a violent police crackdown on an independence vote in Catalonia rattled investors, but major European bourses gained on travel stocks and a mining sector helped by higher metals prices. [MET/L]

U.S. manufacturing surged amid strong gains in new orders and raw material prices, while rebounding construction spending in August bolstered the economic outlook even as Hurricanes Harvey and Irma are expected to dent third-quarter growth.

The Institute for Supply Management (ISM) said its index of U.S. factory activity rose to a reading of 60.8 last month, the highest reading since May 2004, from 58.8 in August.

The dollar was last up 0.64 percent against the euro at $1.1736 and up 0.20 percent against the yen at 112.70. The euro was also hurt after the voting in Catalonia fueled anxiety over political risk in the euro zone. Many analysts said the uncertainty could slow Spain’s economic growth though they expect the crisis to be resolved with an offer of more autonomy.

“It is clear that risks to government stability are increasing,” said Federico Santi, an analyst at Eurasia Group in London, referring to reports of nearly 900 injured in the clashes with police.

The pan-regional FTSEurofirst 300 index of leading European companies rose 0.41 percent to a preliminary close of 1,530.98, and MSCI’s gauge of stock performance in 46 countries gained 0.04 percent.

On Wall Street, the three key stock indexes ground higher to record intraday highs.

The Dow Jones Industrial Average rose 70.6 points, or 0.32 percent, to 22,475.69. The S&P 500 gained 4.55 points, or 0.18 percent, to 2,523.91 and the Nasdaq Composite added 14.73 points, or 0.23 percent, to 6,510.69.

“Investors are trying to get in front of earnings that are expected to be pretty good and there’s still some optimism over corporate tax relief,” Rick Meckler, president of hedge fund LibertyView Capital Management LLC in Jersey City, New Jersey.

Third-quarter earnings are expected to increase 6.2 percent from a year earlier, according to Thomson Reuters research. Excluding energy, earnings growth is estimated at 4.3 percent.

Oil fell more than $1 a barrel to below $56 as a rise in U.S. drilling and higher output from the Organization of the Petroleum Exporting Countries halted a rally that helped prices to register their biggest third-quarter gain in 13 years.

U.S. energy companies added oil rigs for the first week in seven and Iraq announced its exports rose slightly in September while OPEC overall boosted output, a Reuters survey showed. [OPEC/M]

U.S. crude fell $1.42 to $50.25 per barrel and Brent was last at $55.70, down $1.09 on the day.

Benchmark 10-year U.S. Treasury notes fell 4/32 in price to yield 2.339 percent.

U.S. gold futures fell 0.62 percent to $1,276.80 an ounce, while copper rose 0.27 percent to $6,498.50 a tonne.

Source

Online hurricanehook

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Re: Trump recovery update
« Reply #311 on: October 02, 2017, 01:44:46 PM »
Dollar, stocks gain on U.S. economic outlook

Herbert Lash

NEW YORK (Reuters) - World stock markets climbed on Monday, lifted by optimism over the outlook for corporate earnings and U.S. President Donald Trump’s tax reform plan, while the U.S. dollar gained after a manufacturing index rose to its highest level since 2004.

Spanish borrowing costs rose and stocks fell as a violent police crackdown on an independence vote in Catalonia rattled investors, but major European bourses gained on travel stocks and a mining sector helped by higher metals prices. [MET/L]

U.S. manufacturing surged amid strong gains in new orders and raw material prices, while rebounding construction spending in August bolstered the economic outlook even as Hurricanes Harvey and Irma are expected to dent third-quarter growth.

The Institute for Supply Management (ISM) said its index of U.S. factory activity rose to a reading of 60.8 last month, the highest reading since May 2004, from 58.8 in August.

The dollar was last up 0.64 percent against the euro at $1.1736 and up 0.20 percent against the yen at 112.70. The euro was also hurt after the voting in Catalonia fueled anxiety over political risk in the euro zone. Many analysts said the uncertainty could slow Spain’s economic growth though they expect the crisis to be resolved with an offer of more autonomy.

“It is clear that risks to government stability are increasing,” said Federico Santi, an analyst at Eurasia Group in London, referring to reports of nearly 900 injured in the clashes with police.

The pan-regional FTSEurofirst 300 index of leading European companies rose 0.41 percent to a preliminary close of 1,530.98, and MSCI’s gauge of stock performance in 46 countries gained 0.04 percent.

On Wall Street, the three key stock indexes ground higher to record intraday highs.

The Dow Jones Industrial Average rose 70.6 points, or 0.32 percent, to 22,475.69. The S&P 500 gained 4.55 points, or 0.18 percent, to 2,523.91 and the Nasdaq Composite added 14.73 points, or 0.23 percent, to 6,510.69.

“Investors are trying to get in front of earnings that are expected to be pretty good and there’s still some optimism over corporate tax relief,” Rick Meckler, president of hedge fund LibertyView Capital Management LLC in Jersey City, New Jersey.

Third-quarter earnings are expected to increase 6.2 percent from a year earlier, according to Thomson Reuters research. Excluding energy, earnings growth is estimated at 4.3 percent.

Oil fell more than $1 a barrel to below $56 as a rise in U.S. drilling and higher output from the Organization of the Petroleum Exporting Countries halted a rally that helped prices to register their biggest third-quarter gain in 13 years.

U.S. energy companies added oil rigs for the first week in seven and Iraq announced its exports rose slightly in September while OPEC overall boosted output, a Reuters survey showed. [OPEC/M]

U.S. crude fell $1.42 to $50.25 per barrel and Brent was last at $55.70, down $1.09 on the day.

Benchmark 10-year U.S. Treasury notes fell 4/32 in price to yield 2.339 percent.

U.S. gold futures fell 0.62 percent to $1,276.80 an ounce, while copper rose 0.27 percent to $6,498.50 a tonne.

Source

flyboy must accept this news as truth...

it is from Reuters you know.
Everything is on its way to somewhere. Everything.

Online Mornac

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Re: Trump recovery update
« Reply #312 on: October 02, 2017, 05:15:13 PM »
Stocks close at record highs to begin the fourth quarter; Dow jumps 152 points

Stocks kicked off the fourth quarter on a high note, with the Dow, S&P and Nasdaq closing at record highs.

Gains in health care and financials helped lift the major indexes higher.

Fred Imbert
Oct. 2, 2017

U.S. equities closed at record highs on Monday as Wall Street kicked off the fourth quarter on a high note.

The Dow Jones industrial average gained 152.51 points to close at 22,557.60, with Goldman Sachs contributing the most to the gains.

The S&P 500 rose 0.4 percent to 2,529.12, led by gains in health care and financials. Health care was one of the best-performing sectors, rising 0.9 percent, as biotech stocks posted their best day since Aug. 31. Financials rose 0.89 percent and have gained nearly 2 percent in the past month.

"Health care continues to be on fire and financials keep doing well. That's helping out the market today," said Jeremy Klein, chief market strategist at FBN Securities. "It's also the first trading day of the month, which is usually the strongest day of the month for stocks."

General Motors, meanwhile, was among the best-performing S&P components, advancing 4.4 percent after analysts at Deutsche Bank reiterated their buy rating on the stock.

The Nasdaq composite closed 0.3 percent higher at 6,516.72, despite shares of Facebook, Netflix and Alphabet falling.

The Russell 2000 — which tracks small-cap stocks — outperformed, advancing 1.3 percent to a record close of 1,509.47.

The indexes also set intraday records, as they began a historically positive period for stocks. According to CNBC analysis using Kensho, the Dow, S&P and Nasdaq have averaged strong fourth-quarter returns in the past 25 years. Stocks are also building on gains set in the previous quarter.

Stocks wrapped up the third quarter on Friday, with the Dow posting its first eight-quarter winning streak in 20 years. The index rose 4.9 percent last quarter, while the S&P and Nasdaq gained 3.9 percent and 5.8 percent, respectively.

"It's interesting because, as good as the third quarter was, we had a lot of rotation," said Art Hogan, chief market strategist at Wunderlich Securities. "The small and mid-cap indexes did far better than the major averages. That's constructive because it means we can switch spaces and remain at all-time highs."

The Russell 2000 also had a stellar third quarter, advancing 5.3 percent and notching a record high.

"I think the reasons stocks, especially small caps, are doing so well are the economy and hopes of tax reform," said Bruce Bittles, chief investment strategist at Baird.

"The economy is doing well despite the storms," Bittles said. Also, "a lot of folks don't think there will be tax reform but the market thinks there will be. If that happens, it will be a big boost to the economy."

Last week, Republicans unveiled a proposal that would lower the corporate tax rate to 20 percent. The current U.S. corporate tax rate sits at 35 percent.

Tax-reform expectations have been a key catalyst for stocks since President Donald Trump's election, along with hopes of deregulation.

In economic news, the ISM manufacturing index rose to 60.8 in September, the highest read since May 2004. Dallas Federal Reserve President Robert Kaplan is also scheduled to speak at 2 p.m. in New York.

Elsewhere, casino stocks fell after the Las Vegas massacre, the deadliest shooting in U.S. history. Las Vegas Sands fell as much as 2.1 percent before closing 1.3 percent higher.

Wynn Resorts and MGM Resorts International fell 1.2 percent and 5.6 percent, respectively. The broader stock market remained higher as details of the shooting were released.

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Re: Trump recovery update
« Reply #313 on: October 04, 2017, 04:45:40 PM »
President Trump Scores Greatest Stock Market Rally Ever – DOW Up 4,300 Since Election – Nearly 24%!

Jim Hoft
Oct 4, 2017

President Trump is Enjoying the Greatest Stock Market Rally Ever – DOW Up 4,300  Since Election and Nearly 24%!



* The DOW has risen nearly 24% since the election on November 8th. (On November 9th the DOW closed at 18,332 – on October 3rd the DOW closed at 22,641.)

* The DOW has increased 4,309 points since the November 8th election.  The stock market has never increased this much in this period of time in its more than one hundred year history than it has this past week. 

* President Trump is the only President in US history to oversee two stock market rallies of nine days or more where the markets set new highs each and every day. 

* On February 28th President Trump matched President Reagan’s 1987 record for most continuous closing high trading days when the DOW reached a new high for its 12th day in a row! 

* Then in early August President Trump reigned over a 9 day stock market rally with each day reaching record highs.

* President Trump set the record earlier this year for the most all time closing stock market highs during his first year in office.  Currently the DOW has set 61 closing highs since last year’s election and 44 since President Trump’s inauguration.  (As a comparison, President Obama had no stock market highs his entire first term.)

* One in four days since the election has ended in a new stock market high.

* The DOW took just 66 days to climb from 19,000 to above 21,000, the fastest 2,000 point run ever. The DOW closed above 19,000 for the first time on November 22nd 2016 and closed above 21,000 on March 1st 2017.

* The DOW closed above 20,000 on January 25th and the March 1st rally matched the fastest-ever 1,000 point increase in the DOW at 24 days.

* Since President Trump’s Inauguration on January 20th the DOW is up 14%. (It was at 19,827 at January 20th.)

* The S&P 500 and the NASDAQ have both set new all-time highs during this period.

* The US Stock Market gained $4 trillion in wealth since Trump was elected!

* The S&P 500 also broke $20 Trillion for the first time in its history.

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Re: Trump recovery update
« Reply #314 on: October 05, 2017, 10:22:34 AM »
Holiday spending expected to increase 6 percent this year

Lisa Fickenscher
October 3, 2017

It’s going to be a ho, ho, ho Christmas — for the wealthy.

Overall holiday spending across the US is expected to rise 6 percent this year, to an average of $1,189 per person — but wealthier shoppers are expected to really cut loose, a national survey has found.

Those earning $100,000 to $149,999 are expected to jack up their holiday spending by 15 percent, to $1,609 per person, the survey, from PwC, found.

“It’s clear that consumers are ready to shop this year, and consumer confidence is up across the board,” said senior analyst Krystin Weseman, adding that higher-income consumers have been buoyed by low unemployment and wage growth, while lower-income consumers are not seeing the same wage gains.

Weseman was referring to the survey, which found persons earning less than $25,000 a year planned to cut their holiday spending by 3 percent, to $640.

Those earning $150,000 and above will dole an average of $1,958 this holiday season, or 8 percent more than last year, per the study.

The median household income hit a 17-year record at $59,039, but rising employment rather than wage growth was the driving force, according to the PwC report.

“The S&P 500 is roughly 15 percent higher than it was a year ago,” Weseman said, “so wealthier people see that lift to their financial portfolios, feel richer and more confident, and therefore are willing to spend more even if their regular wage at work hasn’t moved much.”

Meanwhile, the National Retail Federation expects holiday retail sales to increase by as much as 4 percent, to $682 billion — but sees seasonal retail hiring declining by as much as 75,000 jobs, to 500,000.

“We are seeing jobs shift to warehouses and distribution centers,” said NRF chief economist Jack Kleinhenz, who also said Hurricane Irma could affect overall hiring if stores in Houston and Florida are delayed in reopening.

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