Economic Expansion Just Getting Started

[InTheLight]

We knew with the corporate tax cuts that corporations would give executives bonuses, engage in stock buy back programs, and invest in R&D before addressing worker wage increases. There was a flurry of worker bonuses and wage increases in the month or so after the tax cut bill passed but across the board worker wage increases are still on the horizon.

Still, the Trump tax cuts to worker wages are starting to have an effect. Workers are spending that extra money they get with each paycheck and the result of that spending is starting to show. This is just the beginning.
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Target sales up 6.5 percent, highest in more than a decade
Company raises profit outlook for the year.

Target shoppers are back in stores and clicking online in record numbers, providing the company with the largest boost in sales in 13 years.

The Minneapolis-based retailer reported Wednesday that combined sales of in-store and digital transactions were up 6.5 percent during the second quarter compared to a year ago.

With consumers finally starting to show some confidence amid the nation's longest-ever bull market rally, Target Corp. raised its profit outlook for the year, a sign that it expects a strong back-to-school and holiday season ahead.

Earnings for the quarter topped Wall Street's expectations, rising almost 20 percent compared to last year, at $1.47 per share on sales of $17.8 billion.

The company now expects earnings per share to range from $5.30 to $5.50, an increase of 15 cents per share at the low end and 5 cents at the high.

Target sales up 6.5 percent, highest in more than a decade
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Walmart's best sales in a decade show US consumer may be strongest in years because of the tax cut, jobs growth

• Walmart's best growth in comp store sales in a decade comes as the U.S. consumer is showing some of the best signs of strength since the recession.
• Retail sales jumped in July, but so did the sales performance at retailers as consumers not only went shopping but spent money on travel and dining out.
• Economists say consumer spending is being helped by the tax bill and also the fact that U.S. job creation remains strong, even as unemployment dipped below 4 percent.

Walmart's best sales in a decade show US consumer may be strongest in years because of the tax cut, jobs growth

 

[carpro]

More winning.

 

[InTheLight]

Look at how the earnings estimates of companies shot upward when the tax cuts were announced last December. This expansion is just starting.

 

[carpro]

Obama must have been responsible for the tax cut. He's taking credit for everything else.

 

[Yeshua1]

More winning.

IF this holds until mid terms, the Dems win find themselves being buried, as THE issue each election is "the economy stupid!"

 

[InTheLight]

 

[InTheLight]

Best Buy sales in second quarter are highest in 15 years

Best Buy said Wednesday its sales grew 6.2 percent in the second quarter and raised its outlook for the rest of the year, continuing a rally among many of the nation’s leading retailers as they head into the crucial holiday season.

The company now expects same-store sales on the year to rise 3.5 to 4.5 percent, compared to the previous forecast of a flat 2 percent. It edged up its forecast for earnings per share to $4.95 to $5.10, an increase of 5 to 10 cents.

But executives said operating profit would decline as it spends more on operations. Best Buy shares fell 3.5 percent in early trading.

Chief executive Hubert Joly said the sales growth — its largest in 15 years — was helped by a favorable consumer environment, and “driven by how consumers are responding to the unique and elevated experience we are building.”

Best Buy sales in second quarter are highest in 15 years; company raises forecast

 

[InTheLight]

U.S. adds 201,000 jobs as worker wages accelerate to nine-year high


The numbers: The United States created 201,000 new jobs in August, keeping the unemployment rate at an 18-year low and generating the fastest increase in worker pay since the end of the Great Recession.

The unemployment rate, meanwhile, was unchanged at 3.9%, the Labor Department said Friday.

The increase in hiring in August was another solid gain that reflects broad strength in an economy that accelerated in the spring and showed little sign of slowing down toward the end of summer.

The biggest news in the August employment report was a sharp increase in pay. The average wage paid to American workers rose by 10 cents to $27.16 an hour. What’s more, the yearly rate of pay increases climbed to 2.9% from 2.7%, marking the highest level since June 2009.

What happened: White-collar professional firms filled 53,000 positions, bringing the total created over the past 12 months to more than half a million. These are the fastest growing jobs in the count.

U.S. adds 201,000 jobs as worker wages accelerate to nine-year high

 

[InTheLight]

U.S. weekly jobless claims drop to near 49-year low

WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting its lowest level in nearly 49 years and pointing to robust labor market conditions.

The labor market is viewed as being near or at full employment. It continues to strengthen, with nonfarm payrolls increasing by 201,000 jobs in August and annual wage growth notching its biggest gain in more than nine years. Job openings hit an all-time high of 6.9 million in July.



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[InTheLight]

 

[InTheLight]

Consumer Confidence Rises to Highest Level in 18 Years

Consumer confidence rose in September, notching its highest level in about 18 years.

The Consumer Board's index rose to 138.4 this month from 134.7 in August. Economists polled by Reuters expected consumer confidence to dip to 132.

"Consumers' assessment of current conditions remains extremely favorable, bolstered by a strong economy and robust job growth," said said Lynn Franco, director of economic indicators at the Conference Board. "These historically high confidence levels should continue to support healthy consumer spending, and should be welcome news for retailers as they begin gearing up for the holiday season."

Consumer confidence rises to highest level in 18 years

 

[InTheLight]

US unemployment rate falls to 49-year low of 3.7 percent[/size]

WASHINGTON — The U.S. unemployment rate fell to 3.7 percent in September — the lowest level since December 1969 — signaling how the longest streak of hiring on record has put millions of Americans back to work.

Employers added just 134,000 jobs last month, the fewest in a year, the Labor Department said Friday. But that figure was likely depressed by the impact of Hurricane Florence.
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Prediction: Look for the new jobs number to be over 200,000 next month, maybe even over 250,000.

 

[InTheLight]

The labor market is viewed as being near or at full employment. It continues to strengthen, with nonfarm payrolls increasing by 201,000 jobs in August and annual wage growth notching its biggest gain in more than nine years.

More good news--the August job numbers have since been revised upwards from 201,000 to 270,000.

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[carpro]

And the wins just keep on coming.

 

[InTheLight]

And the wins just keep on coming.

Trump just had a fabulous week. Starting with the announcement of a new trade agreement with Mexico and Canada, then the announcement that unemployment is at its lowest level since 1969, and now culminating in the appointment of another conservative to the Supreme Court. He also put Iran on notice and is addressing Chinese saber-rattling in the South China Sea.

Winning!

Sent from my Pixel 2 XL

 

[InTheLight]

Consumer confidence rises in October to highest level since 2000

Consumer confidence rises to 137.9 in October; record is 144.7, May 2000.
The numbers: Americans’ confidence in the U.S. economy stood at an 18-year high in October, suggesting the recent slump in the stock market has not dimmed their optimism.

The consumer confidence index rose to 137.9 this month from a revised 135.3 in September, the Conference Board said Tuesday.

 

[InTheLight]

GDP growth of 3.5% marks best two-quarter stretch in four years

The numbers: Gross domestic product decelerated a bit to a 3.5% annual pace in the third quarter, down from torrid 4.2% pace in the prior three months, the government said Friday. GDP is the official measuring stick for the U.S. economy. The gain was very close to Wall Street estimates. Economists polled by MarketWatch estimated that GDP would rise at a 3.4% rate. Expansion in the last two quarters is the fastest six months of growth in four years. The economy looks like it will expand above a 3% rate in 2018. That hasn’t happened since 2005. At the same time, inflation cooled in the third quarter.

GDP growth of 3.5% marks best two-quarter stretch in four years

 

[Yeshua1]

GDP growth of 3.5% marks best two-quarter stretch in four years

The numbers: Gross domestic product decelerated a bit to a 3.5% annual pace in the third quarter, down from torrid 4.2% pace in the prior three months, the government said Friday. GDP is the official measuring stick for the U.S. economy. The gain was very close to Wall Street estimates. Economists polled by MarketWatch estimated that GDP would rise at a 3.4% rate. Expansion in the last two quarters is the fastest six months of growth in four years. The economy looks like it will expand above a 3% rate in 2018. That hasn’t happened since 2005. At the same time, inflation cooled in the third quarter.

GDP growth of 3.5% marks best two-quarter stretch in four years

Throttle back a bit would help reduce the pressure to have inflation ....

 

[InTheLight]

Throttle back a bit would help reduce the pressure to have inflation ....

No. Interest rates were at just about zero for years, the market had the longest bull run in history, and there was virtually NO inflation. I say leave interest rates alone and keep the economy moving up. It might be what is needed get wages moving up a bit faster.

 

[InTheLight]

It might be what is needed get wages moving up a bit faster.

Hmmmm...

Wages and salaries jump by 3.1%, highest level in a decade

Wages and salaries rose 3.1 percent in the third quarter, the biggest increase in a decade, according to the Labor Department.

Wage increases have been the missing link in the economy since the recovery began in mid-2008. Average hourly earnings have been rising steadily but have stayed below the 3 percent level as slack has remained in the labor market.

However the unemployment rate is now at 3.7 percent, the lowest since 1969, and wage pressures have begun to build. The Federal Reserve has been raising interest rates in an effort to stave off future inflationary pressures, though the central bank’s preferred gauge of inflation rose just 2.5 percent in the third quarter, including a 1.9 percent increase for health benefits.

Wages and salaries jump by 3.1%, highest level in a decade

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