Economic News Thread | 3Q Annual GDP 2.8%

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True that the markets were down today, but not the reason for DJT stock cratering. They recently issued further massive warrants. Insiders (other than Trump who can't yet) have been dumping shares like crazy.

Remember former Pub Rep Devin Nunes trying to pump BS into the stock price? He is the CEO. It was back in April that he put out threatening press releases, and demanding congressional (Pub) investigations into short sellers and negative articles. The price was between $30 to $40 a share during that period in April when he was whining it was being unfairly attacked and undervalued.

Well he just dumped 30% of his shares for $640K at 40-50% lower price than back then. And he is not the only one. CFO sold even more, along with most other insiders and exec's.
 
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Kraftyheel89 said:
True that the markets were down today, but not the reason for DJT stock cratering. They recently issued further massive warrants. Insiders (other than Trump who can't yet) have been dumping shares like crazy.

Remember former Pub Rep Devin Nunes trying to pump BS into the stock price? He is the CEO. It was back in April that he put out threatening press releases, and demanding congressional (Pub) investigations into short sellers and negative articles. The price was between $30 to $40 a share during that period in April when he was whining it was being unfairly attacked and undervalued.

Well he just dumped 30% of his shares for $640K at 40-50% lower price than back then. And he is not the only one. CFO sold even more, along with most other insiders and exec's.
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They are getting out ahead of Trump who will be dumping his 1 million shares once his lockout period ends which is just a few weeks away...
 
mpaer said:
They should be fined-lets say 2% of the gouge..That will teach them
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Probably not. Most fine don't come close to the amount that was profited, so they continue to gouge people with the risk of a fine.

Look at Wells Fargo.
 

“… Markets are on edge ahead of Friday’s key jobs report.

Worries about the health of the economy are back in the spotlight this week. On Thursday, weekly jobless claims came in slightly lower than expected, while the ADP employment report suggested that 99,000 jobs were added in August, far fewer than forecast.

Benchmark bond yields initially fell, but bounced back after the Institute for Supply Management said the services sector grew again in August.

Now, traders are looking ahead to the Labor Department’s official report [TOMORROW]. July’s weaker-than-expected reading sent markets into a tailspin and spurred questions about whether the Federal Reserve had waited too long to start cutting interest rates. Could we see a repeat? …”
 
142,000 jobs...less than expected

unemployment down to 4.2% from 4.3% as expected

wage growth 3.8% year over year up from 3.6% last month

slight chance we get a 50 bps cut ?
 
From an economic report I get each day:

"Odds of a 50 bps rate cut on September 18th are increasing, with a 57% probability of 25 bps and 43% probability of 50 bps currently priced in to Fed Funds futures."
 
Enigma94 said:
From an economic report I get each day:

"Odds of a 50 bps rate cut on September 18th are increasing, with a 57% probability of 25 bps and 43% probability of 50 bps currently priced in to Fed Funds futures."
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57% chance of a 25 bps cut ? I would say 99%. If there is not a rate cut then the Fed should be shanghaied and replaced with random folks picked out of the phone book...
 
“… The latest report was heavily anticipated on Wall Street because a weak reading could have pushed Fed officials to begin a likely series of rate reductions this month with a larger half-percentage-point cut rather than a more traditional quarter-point cut. The headline figures in August likely weren’t weak enough to do that, but the negative revisions to reported job growth for June and July didn’t neatly answer investors’ question over the size of the initial cut.

Stocks and bond yields wavered following Friday’s report, which undershot economists’ expectations for jobs growth of 161,000. …”

 


“… In 2023 and 2024 the IRS launched a series of initiatives aimed at pursuing high-wealth individuals who have failed to pay their tax debts. The IRS said the campaign is focused on taxpayers with more than $1 million in income and more than $250,000 in recognized tax debt.

Agency officials said since the program’s launch, almost 80% of the 1,600 millionaires targeted by the IRS for failing to pay a delinquent tax debt have now made a payment, leading to over $1.1 billion recovered. And in the first six months of a new February 2024 initiative, the IRS collected $172 million from 21,000 wealthy taxpayers who have not filed tax returns since 2017. …”
 
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