Economic News Thread | 3Q Annual GDP 2.8%

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“… China’s finance ministry is set to hold a media briefing on Saturday, reigniting expectations that Beijing is readying fiscal stimulus to boost the economy.

The announcement came a day after the nation’s top state planner failed to meet hopes for additional fiscal measures, weighing on market sentiment in China and Hong Kong. …”
 




Hopefully will be a sweet spot for markets — it went down another tick, though not as fast as hoped, but still low enough to boost support for an expected interest rate cut, yet not so low as to trigger recession concerns.
 
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“U.S. inflation is cooling more slowly than expected, new data showed.

The consumer-price index rose 2.4% from a year earlier, the Labor Department said Thursday, after rising 2.5% in August. That was above the 2.3% year-over-year rise that economists polled by The Wall Street Journal had expected.

Core prices, which exclude volatile food and energy items, climbed 3.3% over the previous 12 months, slightly hotter than the 3.2% rise in August. That was also above expectations.

Federal Reserve officials will meet again next month. Thursday’s inflation data, along with additional data that will be released Friday, will play an important role in what they decide to do with interest rates. …”

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www.wsj.com

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Futures are all slightly down at the moment (between 0.25% to 0.65%). We’ll see how it moves toward and after the opening bell.
 
With the recent strength in the jobs report and mildly persistent inflation, I don't expect the market to respond positively. Those two items make it less likely we'll see aggressive rate cuts which is what the market wants to see.
 
The good news is that the inflation rate continues its downward trend.

The bad news is the CPI number missed the guess by economists polled by the WSJ
 
Yeah, he's a real great economist above estimates by a tenth if a percent. Substantial?

Fed is also watching unemployment. The last monthly figure just announced is highest since August of '23, or 13 months. It has been moving higher for months, although still low by historic standards.
 
nycfan said:


record player spinning GIF by Red Bull
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He’s so dumb he doesn’t realize that if what he is saying is true- that people are pouring into the country and taking jobs - and we have an unemployment rate of 4.1%, that that is proof that we need these immigrants for the betterment of our economy.
 


I suspect a lot of Americans would tell you that a household income between $100,001 - $150,000 (two teachers, for example) is middle class. To put it another way, most households that made more than $100,000/year (in 2022 dollars) in 1967 were probably single worker households with a stay-at-home parent (mom). If both spouses are working to make the same amount, they don't likely have the same quality of life as a single-earner household would due to added expenses (especially related to childcare, but cost of commuting, stress on schedules, cost of home upkeep).
 
nycfan said:


I suspect a lot of Americans would tell you that a household income between $100,001 - $150,000 (two teachers, for example) is middle class. To put it another way, most households that made more than $100,000/year (in 2022 dollars) in 1967 were probably single worker households with a stay-at-home parent (mom). If both spouses are working to make the same amount, they don't likely have the same quality of life as a single-earner household would due to added expenses (especially related to childcare, but cost of commuting, stress on schedules, cost of home upkeep).
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No way 100-150 is above Middle class in any type of Urban setting
Now when Hillary talked about 400,000 as some kind of protected "class " -that was over the top
 
nycfan said:
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Is this more of that misinformation out there reporting that the economy is doing well and going the right direction?


Drump was recently presented numbers from the inflation index and asked if these numbers showed a strong economy, to which he replied no the economy is the worst ever. (Because he only speaks in absolutes).
 
Kraftyheel89 said:
Yeah, he's a real great economist above estimates by a tenth if a percent. Substantial?

Fed is also watching unemployment. The last monthly figure just announced is highest since August of '23, or 13 months. It has been moving higher for months, although still low by historic standards.
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He went further with the lie, he said "Double" what was expected.

So, he doesn't know the definition of substantially or double and some clowns think things would be better under this man who has bankrupted several companies and doesn't appear to understand economics.
 
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