News and Trends

April 28, 2017

U.S. economy bogs down in first quarter with slowest growth in 3 years, GDP shows- Market Watch--4.28.17
GDP for the U.S. economy showed that in the first quarter we saw the weakest growth in three years. GDP increased at a meager 0.7% annual pace, down from 2.1% and 3.5% in the second half of 2016.

Atlanta Fed Throws In The Towel: Cuts Final Q1 GDP Forecast To Just 0.2% - Zero Hedge--4.27.17
The Atlanta Fed has come out with its revised GDP forecast of only 0.2 percent, down from 0.5 percent on April 18. The forecast for first-quarter real consumer spending growth also fell from 0.3 percent to 0.1 percent.

Initial Jobless Claims Jump Most In 5 Months; Higher Since Trump's Election- Zero Hedge--4.27.17
The last two weeks have see the biggest two week rise in initial jobless claims since Thanksgiving. Initial jobless claims have risen 23k to 257k.

White House unveils dramatic plan to overhaul tax code in major test for Trump - The Washington Post--4.26.17
Trump has issued a one-page outline for changes to the tax code. He wants to replace the seven income tax brackets with three new ones, cut the corporate tax rate by more than 50 percent, abolish the alternative-minimum tax and estate tax, and create new incentives to simplify filing returns.

House May Pass One Week Funding Bill To Avoid Shut Down As Negotiations Stall - Zero Hedge--4.26.17
The U.S. House of Representatives could move soon to consider a bill to fund the government for a week to avoid a shutdown and buy some time to strike a long-term funding plan.

Consumer confidence lags in April as Americans are less optimistic about economy - CNBC--4.25.17
Consumers were less optimistic about the economy in April, according to the latest data from The Conference Board. Looking ahead, consumers were less optimistic about the short-term outlook for business conditions.

North Korea reportedly conducts live-fire exercise as U.S. submarine docks in the South- Market Watch--4.25.17
North Korea conducted a live-fire exercise as a U.S. submarine docked in South Korea. This action is another show of force from North Korea amid growing concern among South Korea and its allies over Pyongyang's nuclear and missile programs.

Trump Administration Begins Quiet Preparations For Government Shutdown - Zero Hedge--4.21.17
The Trump administration is quietly preparing for the possibility of a government shutdown. Lawmakers will only have four days to pass a spending package to keep the government open beyond April 28.

America’s insomnia problem is even worse than before the Great Recession- Market Watch--4.20.17
A majority of Americans are more stressed than ever over their bank accounts. The most common stressor is health care or insurance bills followed by retirement.

China Puts Bombers On High Alert "For A Potential North Korea Contingency" - Zero Hedge--4.20.17
The U.S. has seen evidence that the Chinese military is preparing "for a potential North Korea contingency," CNN reports. One official has added that the U.S. has also seen an extraordinary number of Chinese military aircraft being brought up to full readiness.

Larry Fink Says "Warning Signs Are Getting Darker" For U.S. Economy - Zero Hedge--4.19.17
Larry Fink, CEO of Blackrock, provided some dark warnings about the U.S. economy saying there were signs of slowing as businesses weigh in on whether the Trump administration will be able to pass tax reform and an infrastructure program quickly.

Global Financial Market Stress Soars To 2017 Highs - Zero Hedge--4.17.17
April looks like it will be the worst month since August 2015 for global financial stress. According to Bloomberg, rising geopolitical concerns are pushing a gauge of anxiety for global asset classes to this year's high.

Dollar Crashes After Trump Says "Dollar Is Getting Too Strong"- Zero Hedge--4.12.17
In an interview with Wall Street Journal, President Trump backtracked on his strong-dollar policy and had stated that the "U.S. dollar is getting too strong" and that a "strong dollar will ultimately hurt the U.S."

No one is noticing this big red flag for the stock market - Market Watch--4.12.17
The official unemployment rate hit 4.5% and it could be a big red flag for the economy and stocks. A rock-bottom unemployment rate has been an excellent indicator of upcoming recessions as a very good warning sign of corrections and bear market ahead.

Wall Street’s ‘fear gauge’ touches 5-month high amid geopolitical angst- Market Watch--4.11.17
The CBOE Volatility Index, also known as Wall Street's fear gauge, rose to a peak of 15.88, hitting its highest level since Nov. 11.

North Korea warns it’s ready for ‘war’ after U.S. sends in ships - Market Watch--4.11.17
North Korea has vowed to defend itself using a "powerful force of arms" if the U.S. keep sending ships toward the Korean Peninsula, reports say.

The US college debt bubble is becoming dangerous - CNBC--4.10.17
In the past 10 years the amount of student loan debt in the U.S. had grown by 170 percent to $1.4 trillion. 44 million people in America have student debt and 8 million of those are in default.

Jobs report shocker dashes some hopes for an economic breakout- CNBC--4.7.17
The shockingly low gain of 98,000 jobs in March was well shy of the 180,000 expected by economists. This shows that the economy is not likely on the verge of snapping out of a low growth pace.

Two of Wall Street's Biggest Names Are Sounding the Alarm on the U.S. Economy- Bloomberg--4.7.17
Two of Wall Street's most influential CEO's are raising warning flags over the nation's economy. U.S. growth is slowing on concern whether the Trump administration's agenda will get through Congress.

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