White Culture

[rooster59]

Wall St. climbs as jobs data supports upbeat economic outlook

By Caroline Valetkevitch

 

Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2019. REUTERS/Brendan McDermid

 

NEW YORK (Reuters) - U.S. stocks rose in a broad-based rally on Friday as stronger-than-expected job growth in April coupled with muted wage gains left investors upbeat about the outlook for the economy and interest rates.

 

The Nasdaq registered a record high close, while the S&P 500 ended just shy of a record high finish.

 

The Labor Department said employers added 263,000 jobs in April, which blew past expectations, and the unemployment rate dropped to 3.6 percent, the lowest level since December 1969. Average hourly earnings came in just shy of expectations, indicating muted inflationary pressure.

 

The data supports the Federal Reserve's patient stance toward raising interest rates, which is a positive for stocks.

 

"We continue to have stronger and stronger job growth, and it seems like there's less and less inflation, which is really odd. You typically don't see that, and basically what that signals to the market is that the Fed is on hold," said Jamie Cox, managing partner of Harris Financial Group in Richmond, Virginia. "That could portend for better earnings in the future for companies."

 

Boosting the S&P 500 and the Nasdaq, Amazon.com Inc rose 3.2%, after CNBC reported that Warren Buffett's Berkshire Hathaway Inc has bought shares of the internet retailing giant for the first time.

 

The consumer discretionary sector rose 1.5%, leading a rally among the 11 major S&P sectors.

 

The Dow Jones Industrial Average rose 197.16 points, or 0.75%, to 26,504.95, the S&P 500 gained 28.12 points, or 0.96%, to 2,945.64, and the Nasdaq Composite added 127.22 points, or 1.58%, to 8,164.00.

 

For the week, the S&P 500 and Nasdaq were up 0.2% while the Dow slipped 0.2%.

 

With nearly 400 S&P 500 companies having reported quarterly results so far, three-quarters have topped profit estimates, according to Refinitiv data.

 

The upbeat reports have turned around the S&P 500 earnings estimate for the first quarter to a rise of almost 1% compared with the 2% decline projected at the start of April.

 

Newell Brand Inc shares jumped 13.5% after the maker of Rubbermaid and other consumer goods exceeded Wall Street expectations for quarterly adjusted profit as it benefited from cost savings and higher pricing.

 

Network gear-maker Arista Networks Inc tumbled 10.4% after it forecast weak current-quarter revenue, while Activision Blizzard Inc fell 4.8% after the videogame maker forecast current-quarter profit below expectations as it puts more money into its franchises to battle competition.

 

Advancing issues outnumbered declining ones on the NYSE by a 3.77-to-1 ratio; on Nasdaq, a 3.85-to-1 ratio favored advancers.

 

The S&P 500 posted 36 new 52-week highs and two new lows; the Nasdaq Composite recorded 91 new highs and 30 new lows.

 

Volume on U.S. exchanges was 6.47 billion shares, compared to the 6.62 billion average for the full session over the last 20 trading days.

 

-- © Copyright Reuters 2019-05-04

Follow Thaivisa on LINE for breaking Thailand news and visa info

[Tug]

That’s good my investments are doing good

[TopDeadSenter]

44 minutes ago, rooster59 said:

The Labor Department said employers added 263,000 jobs in April, which blew past expectations, and the unemployment rate dropped to 3.6 percent, the lowest level since December 1969.

Amazing work Mr Trump. The job figures "blew past expectations". Can we all now agree that those jobs, the jobs that were "never coming back", did come back and more? A stunning achievement by this president, and a firm slap in the face to the naysayers.

 History shows that a strong economy bodes well for a sitting presidents re-election. Great news on top of great news.

[attrayant]

14 minutes ago, TopDeadSenter said:

Amazing work Mr Trump.

 

 

Can you explain specifically what Trump did to achieve this result?

[TopDeadSenter]

19 minutes ago, attrayant said:

 

Can you explain specifically what Trump did to achieve this result?

Yes. Happily. But you will only mock. How about you read carefully this excellent Forbes article that sums up exactly how Obama ruined the job market and Trump saved it. This deals with the "specifics" you want.

 

https://www.forbes.com/sites/chuckdevore/2018/10/16/the-trump-manufacturing-jobs-boom-10-times-obamas-over-21-months/#2e79eb865850

 

 

 

Edited May 4, 2019 by TopDeadSenter

[Opl]

( Trump says 'the coal industry is back.' ...)

"Even with the Trump administration’s attempts to revive the industry, coal plant closures during Trump’s first two years in office exceeded units retired during the first five years of the Obama administration. Despite the Environmental Protection Agency’s planned roll back of the Clean Power Plan, most  utilities have no plans to delay or reverse coal plant retirements."

Coal mining, support, and coal-generated electricity combined employed 161,033, shedding close to 6,000 jobs from 2017.

Edited May 4, 2019 by Opl

[attrayant]

40 minutes ago, TopDeadSenter said:

How about you read carefully this excellent Forbes article that sums up exactly how Obama ruined the job market and Trump saved it. This deals with the "specifics" you want.

 

I need some help, which I am sure you can provide.  Can you quote three examples from that article that state the specific actions Trump took that resulted in economic upswing.  Because I'm not seeing it.  That opinion article does the same thing you did, saying :
 

"Trump’s policies [...] ignited a manufacturing resurgence."

 

What policies?  What specifically did Trump do?  The tax cut?  Sorry, that's Paul Ryan's fault not Trump's.

[TopDeadSenter]

12 minutes ago, attrayant said:

 

I need some help, which I am sure you can provide.  Can you quote three examples from that article that state the specific actions Trump took that resulted in economic upswing.  Because I'm not seeing it.  That opinion article does the same thing you did, saying :
 

"Trump’s policies [...] ignited a manufacturing resurgence."

 

What policies?  What specifically did Trump do?  The tax cut?  Sorry, that's Paul Ryan's fault not Trump's.

I can't force you to read the article. But 1)deregualtion, 2)slashing red tape, 3)tax cuts for business and incentivize repatriation of overseas funds to the tune of $300 billion. I would add, Trump clearly is working to make America great again, it's no surprise businesses are confident and expanding.  

 Contrasted against the incumbents stance. Those jobs are gone. They are never coming back. Boo hoo.

 There is a difference there whether you want to see it or not.

[attrayant]

8 minutes ago, TopDeadSenter said:

I can't force you to read the article.

 

I did read the article and did not see the specific Trump actions you seem to be trumpeting.  I freely admit that global economics is not my strong suit.  That is precisely why I want a nuts-and-bolts analysis of specific Trump actions.  Not generalizations like "Trump's policies".

 

 

8 minutes ago, TopDeadSenter said:

1) deregualtion

 

 

What exactly did Trump deregulate?  Whenever I hear deregulation, it's usually in the context of congressional action.  Your article actually says "stimulated by tax cuts and deregulation" leading me to believe that deregulation was part of the congressional tax cut bamboozle.

 

 

8 minutes ago, TopDeadSenter said:

2)slashing red tape

 

 

Isn't that the same thing as deregulation?  Your source says:
 

"Second, the Trump Administration’s deregulatory practice exceeded expectations, with red tape being cut at a faster clip..."

 

Seems like the "red tape" being referred to is deregulation.

 

 

8 minutes ago, TopDeadSenter said:

3) tax cuts for business and incentivize repatriation of overseas funds to the tune of $300 billion.

 

 

Tax cuts? See my previous post.  That was Paul Ryan's fault.   I'll give Trump a participation trophy for being able to "sign" his name at the bottom of that legislation.

 

 

8 minutes ago, TopDeadSenter said:

I would add, Trump clearly is working to make America great again, it's no surprise businesses are confident and expanding.

 

 

What's your barometer for business confidence?  Because I found this:
 

 

 

And what is your barometer for the statement "businesses are expanding"?

 

Finally, if America is so great (again), what is your speculations as to why Trump's approval rating can't seem to ever climb out of the low 40s, and actually spends most of its time in the mid to upper 30s?  If the economy were truly as great as you say, I would think people would be delighted about Trump.

[riclag]

54 minutes ago, attrayant said:

 

I did read the article and did not see the specific Trump actions you seem to be trumpeting.  I freely admit that global economics is not my strong suit.  That is precisely why I want a nuts-and-bolts analysis of specific Trump actions.  Not generalizations like "Trump's policies".

 

 

 

What exactly did Trump deregulate?  Whenever I hear deregulation, it's usually in the context of congressional action.  Your article actually says "stimulated by tax cuts and deregulation" leading me to believe that deregulation was part of the congressional tax cut bamboozle.

 

 

 

Isn't that the same thing as deregulation?  Your source says:
 

"Second, the Trump Administration’s deregulatory practice exceeded expectations, with red tape being cut at a faster clip..."

 

Seems like the "red tape" being referred to is deregulation.

 

 

 

Tax cuts? See my previous post.  That was Paul Ryan's fault.   I'll give Trump a participation trophy for being able to "sign" his name at the bottom of that legislation.

 

 

 

What's your barometer for business confidence?  Because I found this:
 

 

 

And what is your barometer for the statement "businesses are expanding"?

 

Finally, if America is so great (again), what is your speculations as to why Trump's approval rating can't seem to ever climb out of the low 40s, and actually spends most of its time in the mid to upper 30s?  If the economy were truly as great as you say, I would think people would be delighted about Trump.

Starting at your last paragraph ,Finally !

Mr. Trump is a spoiler, a disrupter a populist. Someone who had a agenda that attracted 62m votes,enough to win the electoral requirements , people wanted  to see a change, a new direction of the economy, domestic and foreign policy from the last 50 years! 

 

His approval ratings haven't changed  since 2015 before and since he has been  POTUS ! He is a threat to many of the domestic and foreign  elites that have prospered before he came to be in power. They use the media to attack his style or lack of being Presidential (BS artist) to create a image of a demon. He has exposed their policies that brought him into power

 

Popularity isn't Trumps objective ! Getting things done is! Perhaps if  the corporate heads of the MSM stopped there campaign of the last 3 years of Russia Russia together with the dems resistance,America will continue to be

That's just a utopian's thought! 

Now it's time to getting things done ! Much catching up to do!

 

Edited May 4, 2019 by riclag

[zydeco]

3 hours ago, rooster59 said:

The Labor Department said employers added 263,000 jobs in April, which blew past expectations, and the unemployment rate dropped to 3.6 percent, the lowest level since December 1969.

Job hopping. Overall labor force decreased by 490K to 162.47 million.

[JHolmesJr]

2 hours ago, TopDeadSenter said:

Yes. Happily. But you will only mock. How about you read carefully this excellent Forbes article that sums up exactly how Obama ruined the job market and Trump saved it. This deals with the "specifics" you want.

 

https://www.forbes.com/sites/chuckdevore/2018/10/16/the-trump-manufacturing-jobs-boom-10-times-obamas-over-21-months/#2e79eb865850

 

 

 

 

A businessman knows about business and how to energise it....who would have thought?

 

A far better performance than the community organiser who just knew how to spin platitudes

and make catchy slogans that only delivered "hope"

 

 

 

 

[lannarebirth]

 

1 hour ago, attrayant said:

 

And what is your barometer for the statement "businesses are expanding"?

 

There are any number of economic indicators one could look at to make any point they wished to make. If you want to see a positive spin you can look at the LEI which is pretty strong. If you want to make the opposite case You can find another indicator that may bolster your argument.

[candide]

3 hours ago, TopDeadSenter said:

Yes. Happily. But you will only mock. How about you read carefully this excellent Forbes article that sums up exactly how Obama ruined the job market and Trump saved it. This deals with the "specifics" you want.

 

https://www.forbes.com/sites/chuckdevore/2018/10/16/the-trump-manufacturing-jobs-boom-10-times-obamas-over-21-months/#2e79eb865850

 

 

 

For how long?

https://www.bloomberg.com/opinion/articles/2019-04-05/manufacturing-jobs-boom-is-fading

Quote:

"The manufacturing jobs pause does seem to offer more support, though, for my contention that the “Trump economy” — last year’s brief, fiscal-stimulus-assisted growth spurt notwithstanding — is mainly a continuation of the “Obama economy” that preceded it, a period of slow but long-lasting growth with some interesting characteristics." 

[chilli42]

4 hours ago, attrayant said:

 

I need some help, which I am sure you can provide.  Can you quote three examples from that article that state the specific actions Trump took that resulted in economic upswing.  Because I'm not seeing it.  That opinion article does the same thing you did, saying :
 

"Trump’s policies [...] ignited a manufacturing resurgence."

 

What policies?  What specifically did Trump do?  The tax cut?  Sorry, that's Paul Ryan's fault not Trump's.

Ummm, he trash talks the Fed to keep interest rates low so companies can continue to invest in stock buy backs rather than productivity builders like equipment, technology or innovation?

[Thaidream]

6 hours ago, TopDeadSenter said:

mazing work Mr Trump. The job figures "blew past expectations". Can we all now agree that those jobs, the jobs that were "never coming back", did come back and more? A stunning achievement by this president, and a firm slap in the face to the naysayers.

 History shows that a strong economy bodes well for a sitting presidents re-election. Great news on top of great news.

The Forbes article points out what happened but fails to point out the true ramifications of what will happen and who actually benefits from the so called economic boom.

 

The truth is that the Us economy works well under Trump if you are already in the 1% of the already wealthy which includes CEO's; factory owners or other large business owners.

 

The average worker has not seen a raise in their hourly income but a stagnation of wages. The current minimum wage of $7,25 is way below what a living wage entails and is virtually unlivable in most States.

 

The Trump tax overhaul  helped only the wealthy as it only added at most an extra $2.50 per day to the average worker who already works for wages below what they  should be paid.

 

The truth is that Obamacare saved American's lives allowing the uninsured to actually afford medical insurance and forcing business to provide it.  Instead of business cutting  their CEO's ridiculous million dollar salaries they cut workers causing a rise in unemployment and sending jobs overseas. Trump wanted to accept a Republican plan to replace Obama care with a lessened version which would have raised prices; forced millions off of insurance and of course allowed business in some cases to not even offer it.  It was the now deceased Republican John Mccain who heroically voted NO that killed the bill recognizing it would destroy healthcare in America .

 

Trump also has lowered or eliminated  environmental standards which will eventually affect the health of all working Americans. The Obama Administration placed these environmental standards on business to save lives and it was greedy business that instead of taking less profit simply shipped the jobs overseas or cut workers.  In addition- Trump pulled the US out of the Climate Treaty -only 1 of 2 Nations in the World that refuses to understand that loose environmental standards; not moving forward on 'green' technology will eventually  push American industry into a 3rd World status.

 

Then there is the ever increasing American deficit all being funded by China and other countries buying up American debt which has increased trillions under Trump and is an existential threat to American sovereignty

 

Of course business will expand when the Trump Administration takes away such thing as mandatory healthcare; no increase in the minimum wage; tax cuts for the wealthy and eliminating environmental standards but the only real beneficiaries are the wealthy and they are doing it of the sweat and tears of the 99% who are getting very little out of the deal/ 

 

 Trump's Art of the Deal is no deal for the majority of Americans.  As the saying foes- you can put lipstick on a pig- but at the end of the day it's still a pig.

 

 

Donald Trump has done very little for the American economy except to reward the already wealthy and give crumbs to the rest of us. Flat or no wage increase do not pay the bills; allow citizens to afford a home or send their children to  universities.

 

The truth is that Donald Trump or his Administration could care less about the average American.

[elmrfudd]

[candide]

5 hours ago, elmrfudd said:

Also +5 trillion debts, higher trade deficit......

[riclag]

17 hours ago, rooster59 said:

The Labor Department said employers added 263,000 jobs in April, which blew past expectations, and the unemployment rate dropped to 3.6 percent, the lowest level since December 1969. Average hourly earnings came in just shy of expectations, indicating muted inflationary pressure.

 Mr. Trump  achieved all of this despite help from the dems.,who have been on a mission(russia,russia) for 3 years.They want power so much that they fail to see what Americans care about.

 

Edited May 4, 2019 by riclag

[Cryingdick]

It’s funny Biden was just not Pittsburgh spouting off about come on man China isn’t competition. Meanwhile US Steel which very well knows about competition from China and has been hurt badly announces a new $1.4 billion plant just outside Pittsburgh. Biden was the dems Hail Mary and that’s done now. 

 

Must be a magic wand because those jobs came back. I don’t even care about debating it over all Pennsylvania going to Trump basically delivers 270 EC votes and it’s a done deal. Every Americans 401k is soaring right now and people will not vote against their own self interests, at least not at the middle class level. 

 

I dont exactly like like trump but am not willing to commit financial suicide. Sometimes I wonder why we even debate these things as not one person here has admitted or conceded the other side nor has one single poster changer their minds.

 

There is every indication that the GDP could go to 4% it is so funny the dems have to hope that doesn’t happen. 

 

[Cryingdick]

3 hours ago, riclag said:

 Mr. Trump  achieved all of this despite help from the dems.,who have been on a mission(russia,russia) for 3 years.They want power so much that they fail to see what Americans care about.

 

The demscan only hope the economy tanks so that $1,000 a month welfare check seems more attractive. It is sad, because if America wins they lose.

Edited May 4, 2019 by Cryingdick

[thaibeachlovers]

16 hours ago, zydeco said:

Job hopping. Overall labor force decreased by 490K to 162.47 million.

Get used to it. Automation and robotics, even without AI, will devastate employment of humans.

If Trump is lucky, it won't really kick in till he's out of office, but there is probably nothing he could do to stop it anyway.

 

However, back to the OP. A good economy will always "trump" other issues. So long as it continues, Trump will still be the president in 2021, IMO.

[thaibeachlovers]

13 hours ago, Thaidream said:

The Forbes article points out what happened but fails to point out the true ramifications of what will happen and who actually benefits from the so called economic boom.

 

The truth is that the Us economy works well under Trump if you are already in the 1% of the already wealthy which includes CEO's; factory owners or other large business owners.

 

The average worker has not seen a raise in their hourly income but a stagnation of wages. The current minimum wage of $7,25 is way below what a living wage entails and is virtually unlivable in most States.

 

The Trump tax overhaul  helped only the wealthy as it only added at most an extra $2.50 per day to the average worker who already works for wages below what they  should be paid.

 

The truth is that Obamacare saved American's lives allowing the uninsured to actually afford medical insurance and forcing business to provide it.  Instead of business cutting  their CEO's ridiculous million dollar salaries they cut workers causing a rise in unemployment and sending jobs overseas. Trump wanted to accept a Republican plan to replace Obama care with a lessened version which would have raised prices; forced millions off of insurance and of course allowed business in some cases to not even offer it.  It was the now deceased Republican John Mccain who heroically voted NO that killed the bill recognizing it would destroy healthcare in America .

 

Trump also has lowered or eliminated  environmental standards which will eventually affect the health of all working Americans. The Obama Administration placed these environmental standards on business to save lives and it was greedy business that instead of taking less profit simply shipped the jobs overseas or cut workers.  In addition- Trump pulled the US out of the Climate Treaty -only 1 of 2 Nations in the World that refuses to understand that loose environmental standards; not moving forward on 'green' technology will eventually  push American industry into a 3rd World status.

 

Then there is the ever increasing American deficit all being funded by China and other countries buying up American debt which has increased trillions under Trump and is an existential threat to American sovereignty

 

Of course business will expand when the Trump Administration takes away such thing as mandatory healthcare; no increase in the minimum wage; tax cuts for the wealthy and eliminating environmental standards but the only real beneficiaries are the wealthy and they are doing it of the sweat and tears of the 99% who are getting very little out of the deal/ 

 

 Trump's Art of the Deal is no deal for the majority of Americans.  As the saying foes- you can put lipstick on a pig- but at the end of the day it's still a pig.

 

 

Donald Trump has done very little for the American economy except to reward the already wealthy and give crumbs to the rest of us. Flat or no wage increase do not pay the bills; allow citizens to afford a home or send their children to  universities.

 

The truth is that Donald Trump or his Administration could care less about the average American.

Had Obama done what he should have and got rid of the health insurance companies, and made American health free for all, or at least free hospital care, I'd have a very different opinion of him, but he brought in the worst of all possible options. He should have left it alone if he couldn't fix it for political reasons.

[metisdead]

Troll posts containing a derogatory representation of Trump's name has been removed as well as a reply. 

Edited May 4, 2019 by metisdead

[simple1]

3 hours ago, riclag said:

 Mr. Trump  achieved all of this despite help from the dems.,who have been on a mission(russia,russia) for 3 years.They want power so much that they fail to see what Americans care about.

 

Take a deeper look into the stats, participation rates, average hours worked, hourly wages actually getting lower, manufacturing still losing jobs and so on. Plus a great deal of concern with the accelerated national debt. Been said many times, Trump is shallow in his comprehension of economics and has been warned to stop boasting, thereby taking on personal responsibility, could easily end in tears.

[impulse]

4 hours ago, riclag said:

21 hours ago, rooster59 said:

The Labor Department said employers added 263,000 jobs in April, which blew past expectations, and the unemployment rate dropped to 3.6 percent, the lowest level since December 1969. Average hourly earnings came in just shy of expectations, indicating muted inflationary pressure.

 Mr. Trump  achieved all of this despite help from the dems.,who have been on a mission(russia,russia) for 3 years.They want power so much that they fail to see what Americans care about.

 

If you mean creating more low wage jobs, maybe.  The second part of this statement in the OP is what gives the Wall Steeters a hard-on:

 

U.S. stocks rose in a broad-based rally on Friday as stronger-than-expected job growth in April coupled with muted wage gains

 

They don't really care that the number of jobs increased (if they really did).  Just that the people continue to go to work for low wages.  Doesn't sound like very good news to most wage earners who have been losing ground since the '70s.

 

Great for "The Market", though.  Over 80% of which belongs to a few of the richest folks.  Sure, some of us with investments will get the trickle down. 

 

Kind of like the pigs in the lower pens get the trickle down of the pens they put up top to reduce the cost of feed.  If the pigs up top get a little better feed, the pigs down below get a little better manure.  You can argue all you want that their lives are better, and maybe they are.  But they're still living on manure.

 

 

Edited May 4, 2019 by impulse

[Cryingdick]

5 minutes ago, simple1 said:

Take a deeper look into the stats, participation rates, average hours worked, hourly wages actually getting lower, manufacturing still losing jobs and so on. Plus a great deal of concern with the accelerated national debt. Been said many times, Trump is shallow in his comprehension of economics and has been warned to stop boasting, thereby taking on personal responsibility, could easily end in tears.

 

I am afraid it is you that has the limited understanding. Wages are up 3.4%

[riclag]

18 minutes ago, simple1 said:

Take a deeper look into the stats, participation rates, average hours worked, hourly wages actually getting lower, manufacturing still losing jobs and so on. Plus a great deal of concern with the accelerated national debt. Been said many times, Trump is shallow in his comprehension of economics and has been warned to stop boasting, thereby taking on personal responsibility, could easily end in tears.

 Never the less they are what they are, despite your liberal claims .When the MSM like reuters puts out a  headline "Wall St. climbs as jobs data supports upbeat economic outlook" it's golden! People for change understand that many swing voters don't go into the weeds,they just see the head lines !We need the black ,Hispanic,asian and women  independent vote! In case you haven't noticed those figures for jobs are all time highs

Edited May 4, 2019 by riclag

[simple1]

8 minutes ago, Cryingdick said:

 

I am afraid it is you that has the limited understanding. Wages are up 3.4%

Congrats a point of contention, but the lower paid sector are still paid peanuts. Isn't the term "working poor".

 

The US average weekly wage increased 3.4% year over year to $1,155 in the second quarter

[simple1]

10 minutes ago, riclag said:

 Never the less they are what they are, despite your liberal claims .When the MSM like reuters puts out a  headline "Wall St. climbs as jobs data supports upbeat economic outlook" it's golden! People for change understand that many swing voters don't go into the weeds,they just see the head lines !We need the black ,Hispanic,asian and women  independent vote! In case you haven't noticed those figures for jobs are all time highs

Really need to get over partisan blah blah - no matter trump's style it ain't the way forward.

 

Given trumps constant claims of lies regarding govt stats under Obama, I'm curious what is now the minimum definition of a job in the US context for govt reporting.. Is it 30 hours a week with no benefits, part time or...and is there a breakdown?