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Posts Tagged ‘consumer spending’

Good earnings news from JPMorgan Chase and bad holiday retail news balance out today

This morning JPMorgan Chase (JPM)  reported that fourth quarter earnings jumped 21% with annual earnings for 2019 rising to a record $36.4 billion. Chalk this one up to a rebound in trading revenue, especially fixed income trading where revenue came in $1 billion above analyst estimates. That good news today was balanced by negative news […]

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Trick or Trend: Will GDP forecasts from the New York and Atlanta fed be wrong again for the fourth quarter? Investors sure should hope so

Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Saturday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. The New York Federal Reserve Bank is forecasting that fourth quarter GDP will grow by […]

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On GDP growth there’s good news and bad news and more bad news

The U.S. economy grew at a 1.9% annualized rate in the third quarter, the Commerce Department reported this morning. The good news: The 1.9% growth in GDP was above the 1.6% rate forecast by economists surveyed by Bloomberg. The bad news: That 1.9% growth rate was down from the 2% annualized growth rate in the […]

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Stocks rally on September jobs report–the “why,” though, is complicated

This morning the Bureau of Labor Statistics reported that the economy added 136,000 jobs in September. And stocks rallied with the Standard & Poor's 500 closing the day up 1.10% to 2942.56 and the Dow Jones Industrial Average ending up 1.11%. The NASDAQ Composite finished up 1.11% and the Russell 2000 small cap index was […]

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August numbers say U.S. consumer is in decent shape; business investment still lags

Consumer spending on goods and services, which accounts for about two-thirds of gross domestic product, increased by just 0.1% in August from July, the smallest gain in six months, according to the Commerce Department today. Personal income was up 0.4% in August. Which makes the lag in consumer spending a little worrying since it suggests […]

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Goldilocks is alive and well, thanks to the U.S. consumer

The U.S. economy grew at a seasonally adjusted annual rate of 2.1% in the second quarter, the Bureau of Economic Analysis reported this morning. Economists surveyed by Briefing.com had projected that year over year growth in GDP would fall to 1.8%. So today's number is stronger than expected but still very much weaker than first […]

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Why stocks might pause this week

If there was ever a set up for a pause, this week is it. Last week, on June 20, the Standard & Poor's 500 hit an all time high. This week there's a lot of pending news to make investors nervous at this level of price in the market. It's time for caution--and maybe pulling […]

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More of the same in today’s economic data: low inflation, good growth in consumer spending, but lagging incomes

Put today's numbers on the economy together with those in Friday's first quarter GDP report and the picture that emerges is of a U.S. economy growing at s very solid rate with declining inflation. But where the trends on consumer incomes and spending suggest, maybe, trouble down the road. This morning the Bureau of Economic […]

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Savings rate dips in September; PCE inflation matches Fed target

The savings rate dipped in September, the Commerce Department reported this morning. Americans. Americans saved 6.2% of their disposable income, the lowest level since 2013. Incomes grew by just 0.2%, the weakest in more than a year. That's not good news considering that consumer spending makes up  about 70% of the U.S. economy and that […]

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Consumer confidence surveys point in opposite directions

This morning the consumer confidence survey from the Conference Board soared to the highest level since October 2000. The confidence index reading at 133.4 for August (up from 127.9 in July) beat all forecasts from economists surveyed by Bloomberg. The present conditions index climbed to 172.2, the highest since December 2000. The consumer expectations index […]

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