Dow Hits 36,000! Profits soaring!!

[AzogtheDefiler]

Brandon’s approval is being hurt by the needed, but highly unpopular, vaccination OSHA guidelines. Plus no one likes price increases from supply and demand issues and that is being taken out on Biden. Finally he hasn’t navigated the infrastructure bills yet.

As for expectations:

• August job numbers were adjusted upward from 235 to 483 (+248)
• September job numbers were adjusted upward from 194 to 312 (+118)
• Adjusted total of +366 jobs added to the economy than first reported in Aug & Sep jobs reports, respectively
• Total of +1.33m jobs added to the economy from Aug-Oct (w/Oct #s likely to be adjusted upward next month)
• Average=+443 per month Aug-Oct
• 22.36m jobs lost from covid shutdown
• 18.74m jobs gained since then

So still a big negative in jobs and you called him Brandon. Ha ha

 

[citygator]

So still a big negative in jobs and you called him Brandon. Ha ha

Not on Brandon’s watch. It’s positive. The negative was all that fat guy, whatshisname?

 

[AquaAthena]

November 5, 2021

Today’s jobs report showed an acceleration in hiring. Businesses added 604,000 jobs while the government shed 73,000, for a nonfarm payroll expansion of 531,000. This is strong evidence that the end of enhanced unemployment benefits in September has incentivized out-of-work Americans to accept jobs. The revisions to September and August, which added a total of 235,000 jobs, suggest that the earlier ends to the benefit bonuses in Republican-led states got this process started this summer.

It also suggests that this could have been accomplished earlier, which would have eased inflationary pressures and boosted consumer sentiment. The decision by the Biden administration and Capitol Hill Democrats to extend benefits through the summer now looks like a political own-goal. Perhaps Biden's approval rating would not be as deep underwater as it is today if there had been a few good jobs reports and lower inflationary reads over the summer months. The economic damage is continuing, however, with the labor force about two percent smaller than it was prepandemic.

Speaking of which, labor force participation was surprisingly unchanged at 61.6 percent. The quickest explanation for this is that the population expanded by 142,000. So even though 104,000 people were added to the workforce, they didn't move the participation needle down.

For the Federal Reserve, this report pushes both in a dovish and a hawkish direction. The stronger than expected jobs figure indicates less need for accommodative monetary policy. But black unemployment remained unchanged for the month, which means that October employment fell short of Fed Chair Jerome Powell's goal of a "broad and inclusive" expansion.

Next week will bring October reads for the Producer Price Index (PPI) on Tuesday and the Consumer Price Index (CPI) on Wednesday. It's likely that PPI will remain at least as hot as it was last month, when it rose 0.5 percent, due to ongoing supply chain constraints. CPI likely accelerated due to the retreat of the Delta variant and signs that spending on services surged in October. If the Democrats have not managed to pass Biden's big-spending bills by midweek, the resurgence of inflationary pressures would likely create even more doubts in the minds of more centrist lawmakers about the wisdom of ramping up government spending. That may be why President Biden was demanding lawmakers pass the bills "right now" on Friday.

– Alex Marlow & John Carney
Breitbart News Network

Gmail

Gmail is email that’s intuitive, efficient, and useful. 15 GB of storage, less spam, and mobile access.

mail.google.com

 

[Smokin' OP]

Name 3 government programs that were budgeted less dollars year over year due to Republican "cuts". Then you can talk about "damaging government spending cuts". And here's a clue, increasing spending by 6% on a program instead of the requested 8% is NOT a "cut".

Trump cut the HUD department by $6.2 billion. 13%
Trump cut the education department by $9.2 billion. 14%
Trump cut the health and human services department budget by $15.1 billion.18%
Trump cut the department of agriculture $4.7 billion. 21%
Trump cut the state department $10.9 billion. 29%
Trump cut the EPA by $2.5 billion. 31%

 

[Smokin' OP]

November 5, 2021

Today’s jobs report showed an acceleration in hiring. Businesses added 604,000 jobs while the government shed 73,000, for a nonfarm payroll expansion of 531,000. This is strong evidence that the end of enhanced unemployment benefits in September has incentivized out-of-work Americans to accept jobs. The revisions to September and August, which added a total of 235,000 jobs, suggest that the earlier ends to the benefit bonuses in Republican-led states got this process started this summer.

It also suggests that this could have been accomplished earlier, which would have eased inflationary pressures and boosted consumer sentiment. The decision by the Biden administration and Capitol Hill Democrats to extend benefits through the summer now looks like a political own-goal. Perhaps Biden's approval rating would not be as deep underwater as it is today if there had been a few good jobs reports and lower inflationary reads over the summer months. The economic damage is continuing, however, with the labor force about two percent smaller than it was prepandemic.

Speaking of which, labor force participation was surprisingly unchanged at 61.6 percent. The quickest explanation for this is that the population expanded by 142,000. So even though 104,000 people were added to the workforce, they didn't move the participation needle down.

For the Federal Reserve, this report pushes both in a dovish and a hawkish direction. The stronger than expected jobs figure indicates less need for accommodative monetary policy. But black unemployment remained unchanged for the month, which means that October employment fell short of Fed Chair Jerome Powell's goal of a "broad and inclusive" expansion.

Next week will bring October reads for the Producer Price Index (PPI) on Tuesday and the Consumer Price Index (CPI) on Wednesday. It's likely that PPI will remain at least as hot as it was last month, when it rose 0.5 percent, due to ongoing supply chain constraints. CPI likely accelerated due to the retreat of the Delta variant and signs that spending on services surged in October. If the Democrats have not managed to pass Biden's big-spending bills by midweek, the resurgence of inflationary pressures would likely create even more doubts in the minds of more centrist lawmakers about the wisdom of ramping up government spending. That may be why President Biden was demanding lawmakers pass the bills "right now" on Friday.

– Alex Marlow & John Carney
Breitbart News Network

Gmail

Gmail is email that’s intuitive, efficient, and useful. 15 GB of storage, less spam, and mobile access.

mail.google.com

That didn't take long, I was wondering when the GQP was going to bring out the labor force participation rate, because of a democrats good job numbers.

Haven't read/heard of that in 6 years.

February 7, 2020
The labor force participation rate reached a Trump-era high of 63.4 percent, up from 63.2 percent in December, because the civilian labor force increased by 574,000 in January, after accounting for annual adjustments to population controls, BLS said.*

 

[hadit]

Trump cut the HUD department by $6.2 billion. 13%
Trump cut the education department by $9.2 billion. 14%
Trump cut the health and human services department budget by $15.1 billion.18%
Trump cut the department of agriculture $4.7 billion. 21%
Trump cut the state department $10.9 billion. 29%
Trump cut the EPA by $2.5 billion. 31%

First, which year?
Second, what did Congress enact? I'm don't care what the president proposes, that's not what gets passed into law.

 

[Westender]

glad to hear the rich elites are getting richer while us bottom feeders get poorer,,

I'm getting well up in wealth and I'm far from elite. I work hard and invest

 

[Weatherman2020]

Companies are making profits right now and Wall Street sure likes that. I remember how much of a barometer the stock market was to measure a President’s success over the last several years. When will you conservatives start enjoying a growing economy?


Dow Average Touches 36,000 Buoyed by Earnings: Markets Wrap
Stocks Pare Gains Amid Earnings, Fed Taper Outlook: Markets Wrap

Stocks rose toward another record amid earnings surprises and optimism the recovery in the world’s largest economy is on track.

The Dow Jones Industrial Average touched the 36,000 level. The S&P 500 climbed for a third day, led by commodity, retail and financial companies. The tech-heavy Nasdaq 100 underperformed. Treasuries fell.

More than 80% of S&P 500 companies reporting third-quarter results have beaten Wall Street estimates, according to data compiled by Bloomberg. That has laid the groundwork for a nearly 6% gain in the equity benchmark since the season began on Oct. 13 -- the best performance over a comparable period since 2014.

Celebration of the rich getting richer, how Leftist of you.

 

[Smokin' OP]

Celebration of the rich getting richer, how Leftist of you.

So, the left may celebrate, that aspect of the economy getting better.
The right not only celebrates, they reward them.

December 24 2017
President Trump kicked off his holiday weekend at Mar-a-Lago Friday night at a dinner where he told friends, "You all just got a lot richer," referencing the sweeping tax overhaul he signed into law hours earlier.

The president has spent many weekends of his presidency so far at the "Winter White House," where initiation fees cost $200,000, annual dues cost $14,000, and some of the most affluent members of society have the opportunity to interact with the president in a setting while many Americans cannot.

 

[Cellblock2429]

glad to hear the rich elites are getting richer while us bottom feeders get poorer,,

/——-/ No ones fault but yours. Trump is gone and yet your problems didn’t disappear, they got worse, and you are still an insufferable bore.

 

[Weatherman2020]

So, the left may celebrate, that aspect of the economy getting better.
The right not only celebrates, they reward them.

December 24 2017
President Trump kicked off his holiday weekend at Mar-a-Lago Friday night at a dinner where he told friends, "You all just got a lot richer," referencing the sweeping tax overhaul he signed into law hours earlier.

The president has spent many weekends of his presidency so far at the "Winter White House," where initiation fees cost $200,000, annual dues cost $14,000, and some of the most affluent members of society have the opportunity to interact with the president in a setting while many Americans cannot.

I’m happy he got richer as I did. As are the poor who did better because of President Trump.

U.S. income inequality narrowed slightly over last three years: Fed

Income inequality in the United States narrowed in the first three years of the Trump administration as rising wages and a low unemployment rate fueled gains for lower-income and less educated families, according to U.S. Federal Reserve data released on Monday.

www.reuters.com

 

[iamwhatiseem]

I’m happy he got richer as I did. As are the poor who did better because of President Trump.

U.S. income inequality narrowed slightly over last three years: Fed

Income inequality in the United States narrowed in the first three years of the Trump administration as rising wages and a low unemployment rate fueled gains for lower-income and less educated families, according to U.S. Federal Reserve data released on Monday.

www.reuters.com

Unlike the wealth gap which grew more under Obama than any other President in U.S. History.
But....but... he is a Democrat...so...shhhh... we must keep blaming TRUMP!!!!!!

 

[eagle1462010]

 

[Smokin' OP]

I’m happy he got richer as I did. As are the poor who did better because of President Trump.

U.S. income inequality narrowed slightly over last three years: Fed

Income inequality in the United States narrowed in the first three years of the Trump administration as rising wages and a low unemployment rate fueled gains for lower-income and less educated families, according to U.S. Federal Reserve data released on Monday.

www.reuters.com

The richest 1 percent of taxpayers will get an average tax cut of $50,000 in 2020. That’s 75 times more than the tax cut for the bottom 80 percent, which will average just $645. These figures are comparable to estimates from the Tax Policy Center for 2018, which found the average tax cut for the richest 1 percent to be $51,000 and the average tax cut for the bottom 80 percent to be about $800.

A big reason benefits are tilted to the top is the law slashed the U.S. corporate tax rate on domestic profits from 35 percent to 21 percent and on foreign profits to about 10 percent. Wealthy people own most corporate stock.

Wait until Trump's tax cuts for individuals expire in 3 years.
Corporate tax cuts are permanent.

 

[Smokin' OP]

Unlike the wealth gap which grew more under Obama than any other President in U.S. History.
But....but... he is a Democrat...so...shhhh... we must keep blaming TRUMP!!!!!!

You're FOS, as usual.

First, which year?
Second, what did Congress enact? I'm don't care what the president proposes, that's not what gets passed into law.

That was the 2018 budget by congress contained in Trump's tax cut, in passed in March of 2018.

 

[Smokin' OP]

You're FOS, as usual.


That was the 2018 budget by congress contained in Trump's tax cut, in passed in March of 2018.

2019.

 

[PinktheFloyd88]

glad to hear the rich elites are getting richer while us bottom feeders get poorer,,

Yes perhaps soon enough you won't be able to afford Internet and will have to stop posting

 

[progressive hunter]

Yes perhaps soon enough you won't be able to afford Internet and will have to stop posting

thats very childish of you to say,,,

 

[Ivan88]

Back in the 60's there was stock market enthusiasm for rising profits protecting stockholders from inflation.
It was a failed strategy for most people.

 

[airplanemechanic]

Liberals under Trump: The strong stock market is no indication of the strength of the economy as a whole
Liberals under Biden: The strong stock market is an indication of a strong economy

You can't make this shit up.