Business

BOOM! American Manufacturing Expanded in August at Fastest Pace in Six Years

American factories accelerated in August at the fastest pace of expansion since 2011, data from the Institute for Supply Management showed Friday. The ISM purchasing manufacturers surveyed showed all six of the biggest manufacturing industries ramped up activity in August. The monthly purchasing managers index rose 2.5 points to 58.8, reflecting employment rising to its highest level since June of 2011, an increase in production and rising inventories. Economists had expected a reading of 56.5. Any reading over 50 indicates growth. Exports and new orders continued to show strong growth, although these slowed from July. The Bureau of Labor Statistics said on Friday that manufacturing employment increased the most since 2012. The sustained gains in manufacturing reflect rising consumer spending and business investment. The ISM number from Friday suggests that third quarter economic growth may be greater than previously thought. Some economists believe that the economy could be growing at a four percent pace right now.

How great would that be?!?  More great news in this new Trump economy!  Excellent!    🙂

In Trump Era, U.S. Corporations See Best Earnings in 13 Years

As President Trump’s administration enters the last half of its first year, U.S. corporations are experiencing their best earnings in 13 years, a report finds. Bloomberg reports that U.S. 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. Europe supported U.S. growth during the first three months of this year, but during the second three months, emerging markets came in strong for U.S. earnings. Mark Luschini of financial service company Janney Montgomery Scott told Bloomberg that multinational corporations are seeing growth and higher earnings in both the U.S. and overseas operations. Bloomberg reported: ” 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.” Indeed, even as U.S. prospects rise, so has that of much of the world’s economy. “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,” said Jim Paulsen, chief investment strategist at Leuthold Group. The health care and banking sectors have also seen great growth. Analysts expect this growth to continue into the third quarter.

Agreed!!  And we look forward to it!    🙂

U.S. Companies Post Profit Growth Not Seen in Six Years

America’s largest companies are on pace to post two consecutive quarters of double-digit profit growth for the first time since 2011, helped by years of cost-cutting, a weaker dollar and stronger consumer spending. Earnings at S&P 500 companies are expected to rise 11% in the second quarter, according to data from Thomson Reuters, following a 15% increase in the first quarter. Close to 60% of the firms in the index have reported second-quarter results so far. Corporate America’s strong earnings performance comes as several policy initiatives that were expected to help boost companies’ bottom line—corporate-tax cuts and increased government spending on infrastructure—have been sidetracked amid political infighting in Washington, D.C., which culminated with the recent failure of the health-law bill. Even as activity inside the Beltway bogged down, the markets have been on an almost nonstop rally since the election. The S&P 500 is up 16% since early November and 10% this year. “You could argue that the stock-market investor overestimated Trump but underestimated earnings,” said Christopher Probyn, chief economist for State Street Global Advisors. The second-quarter profit gains are spread across industries from Wall Street banks to Detroit’s car factories to Silicon Valley’s software labs. Earnings are expected to decline only in the utilities sector, according to data from Thomson Reuters. ​ Several factors are at work, analysts and economists say. A weaker dollar has made it easier to sell U.S.-made goods overseas and has kept borrowing costs low. U.S. wages have improved enough to help bolster consumer spending without raising employer labor costs so much to dent the bottom line. Companies also continue to reap the fruits of their recent zeal for cutting costs, Mr. Probyn said. “We underestimated some of the cost-cutting and restructuring that has gone on within the various industries; that has permitted earnings to keep doing well.” Sales, too, rose in the quarter, by an expected 5%, the second-biggest increase in more than five years, according to data from Thomson Reuters. The figures reflect actual results for about half the S&P 500 index, and analysts’ estimates for those that had yet to report results as of Friday. On Friday, the Commerce Department reported that gross domestic product rose at a 2.6% rate in the second quarter, up from 1.2% in the first quarter.

And the economy continues to roar on in this new Trump era..  To read the rest of this article from the Wall Street Journal, click on the text above.

Foxconn announces $10 billion investment in Wisconsin and up to 13,000 jobs

Foxconn Technology Group Wednesday pledged to invest $10 billion to build a display panel plant in Wisconsin that could employ up to 13,000 workers and draw up to $3 billion in subsidies from state taxpayers — a deal that could ripple through the economy and 2018 elections. “This is a great day for American workers and manufacturers and everyone who believes in the concept and the label ‘Made in the USA,’ ” said an ebullient President Donald Trump at the White House announcement.

Nice!!  To read the rest of this story, click on the text above.

TRUMP Records His 23rd New Stock Market High – Market Up 17% Since Election

The Dow Jones Industrial Average recorded its 23rd all time high of 2017 yesterday closing at 21,532. There have been a total of 120 days where the markets have closed since President Trump’s inauguration on January 20th. The ‘DOW’ has closed at all time highs 23 of those days for nearly 20% or one-fifth of the days the market has been open. The market is up 9% since the inauguration. Since the election on November 8th the DOW has closed at record highs an amazing 40 times! Nearly one-fourth or 24% of the 168 days the markets have closed have been record highs since the November 8th election. The market is up 17% since the election! Americans are benefitting greatly in their 401k’s from the recent change in Administrations. In Obama’s entire first term, the US stock market (DOW) never reached a new closing high. In years 2009, 2010, 2011 and 2012 the DOW never reached a new high once!

Trump making the Stock Market great again!   🙂

U.S. Stocks, Bonds Jump on Go-Slow Fed; Oil Climbs: Markets Wrap

U.S. stocks rose toward records, Treasuries rallied and the dollar retreated after Janet Yellen signaled the Federal Reserve won’t rush to tighten monetary policy as inflation remains persistently below target. The Dow Jones Industrial Average closed at a fresh all-time high, technology shares added more than 1 percent and emerging-market equities surged to levels last seen in 2015 as Yellen expressed confidence in the American economy while suggesting inflation rates won’t force the Fed’s hand. The dollar fell versus most major peers, 10-year Treasury yields slid below 2.32 percent and gold futures rose. Oil bounced above $45 a barrel. The Brazilian real strengthened after former President Luiz Inacio Lula da Silva was convicted of graft and money-laundering, while Canada’s dollar rallied on central bank tightening. The statement from Yellen diverted attention from the release of emails by Donald Trump Jr. about his controversial meeting with a Russian lawyer, though concern remains that the latest saga in Washington may be an unwelcome distraction for the Fed seeking to dismantle a decade of monetary stimulus. The Fed chair made no mention of asset prices just a week after her comment that some looked “somewhat rich” added to selling in stocks and bonds. Yellen’s dovish tone came as the Bank of Canada raised interest rates for the first time in seven years even as inflation in the country remains stubbornly sluggish. Central banks around the world have been hinting that the accommodative policies in place for years may no longer be needed amid signs that the global economy is gaining traction.

More great economic news in this Trump era.  Making America great again!   🙂

Analysis: For Tech CEOs, Not Attending White House Summit Is Greater Risk

Technology executives at odds with the Trump administration see a bigger problem than attending a White House brainstorming session Monday—not attending. Silicon Valley has been among the most vocal critics of President Donald Trump over his positions on issues such as climate change and immigration. Still, representatives from Apple Inc., Amazon.com Inc., Microsoft Corp. MSFT 0.14% and Alphabet Inc.’s Google, companies that have opposed his policies, are expected to make the cross-country trip to ensure their voices are heard. Also expected to attend are Intel Corp. Chief Executive Brian Krzanich, Oracle Corp. co-CEO Safra Katz, a member of Mr. Trump’s transition team, and Cisco Systems Corp. CSCO 0.16% Chief Executive Chuck Robbins. “If you don’t show up, I think that’s the worst scenario,” Apple Chief Executive Tim Cook said in early May, when asked about the company’s relationship to the White House during an interview with CNBC. “Because then you’re quiet and this doesn’t do your cause any good, or your point of view any good.” Communication between the White House and Silicon Valley, already strained by the president’s proposed ban on travel to the U.S. by people from six Muslim-majority countries, was shaken after the White House pulled the U.S. out of the Paris climate accord. Elon Musk, CEO of both Tesla Inc. TSLA -1.05% and Space Exploration Technologies Corp., announced after the move he was quitting his role on councils that advise the president. He had been among the most vocal and visible Silicon Valley contacts for the White House. A Tesla spokesman declined to comment. Salesforce.com CEO Marc Benioff, who tweeted his disappointment after the Paris decision, isn’t attending the Monday session because of a scheduling conflict that arose after the summit was rescheduled, a person familiar with the matter said. Others plan to attend despite the tensions. “You have to take a look at the landscape and see where you can find some common ground,” said Linda Moore, chief executive of Technet, a Washington-based lobbying group comprising U.S. technology companies and executives. Those areas include tax reform and workforce development, she said. Aaron Levie, CEO of the digital-storage company Box Inc., said in an interview last month the risk of the administration making decisions without hearing directly from the tech industry is too great. “It’s not a given that the policy decisions are going to be aligned with the long-term trends that I think at least the tech industry is witnessing on the front lines,” he said. Mr. Levie, along with Cisco chairman John Chambers and venture capitalist John Doerr, met in April with White House officials and members of Congress to discuss tech issues including education and privacy. “Everyone’s kind of got their own comfort level and their own desire of how much they want to engage,” said Ms. Moore. Mr. Cook, for example, spoke to the White House following both its immigration order and its exit from the Paris accord. Apple didn’t respond to requests for comment. In March, Mr. Benioff attended a White House roundtable on workforce development with Mr. Trump, German Chancellor Angela Merkel and other CEOs, during which he suggested the aspirational goal of creating five million apprenticeships by 2020. Earlier this week, Mr. Trump signed an executive order to reduce barriers to apprenticeships.

…which was awesome, and huge news!!  And yet, the dominantly liberal mainstream media swept it under the carpet almost immediately…..and instead continues their pathological obsession with liberal agenda-driven fake news nonsense like Comey testimonies, (already dispelled) so-called “collusion” by the Trump Campaign (and now Administration) with Russia…and on and on..  While the liberal media (i.e. NY Times, Washington Post, CNN, NPR/PBS, ABC, CBS, NBC, and of course the absolute worst..MSNBC..among others) focuses on bs like that which has NO bearing or impacts the lives of ordinary Americans, the President and a handful of his allies are actually getting work done they promised the voters they would.  It’s good to see these tech giants leading by example and putting their political differences aside and sitting down with our new administration to work on tech issues that affect all of us, and the tech industry.  The liberal media, Dems in Congress, and spineless establishment GOP House and Senate members could learn a thing or two from these corporate tech leaders.  Excellent!!    🙂