More Good Economic News On Friday
Published Friday, November 2, 2018 at: 7:00 AM EDT
New jobs surged in October and wages rose by the largest year-over-year amount in nearly a decade.
Here's a roundup up of the financial news you need to know.
Real disposable income — personal income after taxes, adjusted for inflation and divided by the number of people in U.S. — in the 12 months ended October 31, grew 2.8%. In the five-year economic boom preceding The Great Recession, real personal disposable personal income grew by 2.2%. In the last 12 months, RDPI grew 30% faster than in the last expansion.
Car sales shifted into high gear in October. After car sales in September spiked to 17.9 million, the expectation was that car sales would cool in October. Nope! They went to 18 million.
September housing starts came in at 1.2 million, well below the Council of Economic Advisers February 2018 projection in the "Economic Report of the President."
The Standard & Poor's 500 closed on Friday at 2723.06, just 7% off its all-time high, and the double-digit market correction of October halted in the last week. The correction could resume; no one can predict the next market turn, and past performance does not guarantee your future results. Meanwhile, the economy remains strong and shows no sign of falling into a recession and turning the October's correction into a bear market drop.
This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial or tax advice without consulting a professional about your personal situation. Tax laws are subject to change. Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.
- This Week’s Economic And Investment News
- Positive Earnings, Housing, and LEI News; Stocks Closed Week At A Record
- Today Versus Post-War History Of U.S Economic Cycles
- Stocks Surged 1.1% Today, Closing At A Record High For The Third Straight Week
- Strong Jobs Report Confirms Recovery
- What's Ahead For The Second Half Of 2021?
- Despite Strong Economic News, Stocks Dropped This Past Week
- Stocks Closed At A Record High; What's Expected For The Rest of 2021?
- Jobs Situation Report Pushes Stocks A Fraction From All Time High
- Inflation Rate Doubled In Past Two Months
- Fed Signals It's Thinking About Starting To Talk About Tightening
- Expect Inflation To Make Investors Nervous Through 2021
- Stocks Closed At A Record, Ignoring A Bad Jobs Report
- Stocks Soared 5.2% In April; Now, For The Good News
- A Window Of Opportunity Is About To Close
- Retail Sales, Housing Starts, And Stocks Rocket Higher
- The Fed Is Not Braking The Boom Anytime Soon
- A Black Swan Event And Higher Taxes Persist As Financial Risks Amid The Boom
- What You Need To Know Right Now To Manage Your Wealth
- Economic Expectations Improved Almost Overnight
- Investors Beware: The Asset Valuation Paradigm Changed
- Fed Says It Will Stick To Its Plan, As Bond Yield Rises
- Amid Strong Crosscurrents, Stocks Sank 2.5% This Past Week
- A New Rover Landed On Mars And Stocks Closed Lower For The Week
Higher Taxes and Your Financial Future
-Effect on Estate Planning
Saturday, September 11th, 2021
09:00 am – 10:00 am
(Zoom link to be emailed upon registration. Contact firstname.lastname@example.org for more information.)