"America's Labor Market Continues to Boom" JOBS, JOBS, JOBS!
JOBS LIFT U.S. CONSUMER CONFIDENCE TO NEAR 16-YEAR HIGH
“This brightens the outlook for the economy as we enter the second half of the year”
U.S consumer confidence jumped to a near 16-year high in July amid optimism over the labor market while house prices maintained their upward trend in May, which could boost consumer spending after recent sluggishness.
The reports on Tuesday underscored the economy’s strong fundamentals, expected to keep the Federal Reserve on course to raise interest rates for a third time this year.
“This brightens the outlook for the economy as we enter the second half of the year,” said Chris Rupkey, chief economist at MUFG in New York. “We expect Fed officials will continue with their gradual pace of rate hikes secure in the knowledge that a confident consumer means that more spending is on the way.”
The Conference Board said its consumer confidence index surged to 121.1 this month, the second highest reading since 2000, from 117.3 in June. The rise in confidence came despite the healthcare impasse in Washington. The index hit a 16-year high of 124.9 in March.
TRUMP EFFECT: STOCKS SMASH RECORDS – AGAIN
S&P 500 hits new high
The S&P 500 hit a record high shortly after the open, with financials and energy rising more than 1 percent to lead advancers.
The Dow Jones industrial average rose 150 points, with Caterpillar contributing the most gains. The Nasdaq composite lagged, trading just below breakeven as tech stocks slipped.
Caterpillar posted bottom line results that topped estimates, sending its shares higher.
“This is what the market needs to hear from industrial names coming in strong,” said Quincy Krosby, chief market strategist at Prudential Financial. “This is the earnings week.”
Related:
There Have Been 25 Record Stock Market Highs Since Trump’s ElectionRelated:
This page is dedicated to tracking that number of jobs that Donald Trump has saved, helped create or brought back to America due to his business friendly policies and negotiations...
http://www.trump-conservative.com/news/donald-trump-american-jobs-saved-tracker/
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