Wall Street’s selloff last week has been blamed on everything but the real thing. The major indices lost more than four percent, with the Dow off nearly 10 percent since its recent high in early October.
The selloff in stocks on Tuesday gives investors another chance to buy stocks of excellent companies at a discount.
A nonpartisan trade group representing farmers, ranchers, manufacturers, and various labor groups reported on Tuesday that, according to its economic model, Trump’s tariffs on steel “are creating US jobs and stimulating growth,” the opposite of what many mainstream economists predicted. Those new jobs might just be needed if President Trump fails in getting China to change its behavior.
Wall Street jumped at the news from Fed Chairman Jerome Powell that interest rates were “just below” a neutral level.
While the Conference Board says the economy is slowing, Black Friday sales broke records and Cyber Monday sales are expected to do the same.
The Alliance for American Manufacturing has provided a way for U.S. citizens to put their dollars into American companies this Christmas season.
Charles Evans of the Fed’s Federal Open Market Committee says interest rates are too low and need to go higher.
Starting in January, the 62 million Americans receiving Social Security will get a cost of living adjustment (COLA) in their benefit checks of about $40 a month.
The Treasury reported total government receipts of $253 billion for the month of October, while total outlays were $353 billion. The U.S. taxpayer is left holding the bag for the difference of $100 billion.
Despite the volatility on Wall Street, the U.S. economy continues its remarkable record-setting recovery from the Great Recession and the Obama administration.