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[color=teal][b][size=5]^^^ +3s and THANK YOU for excellent insight for last trading week of the year 8)
HAPPY BOXING DAY (as our Toronto main HQ is closed but all rest of us ain’t that lucky 😉 :)[/size][/b][/color]https://en.wikipedia.org/wiki/Boxing_Day
[size=5]One “shocking” study on TAX CUT 😉 😉
More people will be HELPED than HURT (in 80 to 90 % ranges) :whistle: :whistle: :whistle:
In Sunday’s talking head shows — the BERN agreed with stats that 91% of ALL MID-CLASS taxpayers will get benefit from $24,000 (as most of us will go to the 1040 E-Z file system 🙂 FAKE NEWS told us 80% would be hurt, when in fact 80% of ALL receive immediate reductions. And significant corporate tax discounts help economy on a 1 time basis that will be meaningful
I don’t agree with all aspects of bill — but see benefit to nation as a whole. For example ALL state & property taxes (even for CA or NY) should be deductible (i.e., or rather to be part of Schedule A consideration v. $24,000 standard one). I don’t agree with double & triple taxation from ethical standpoint. Still, the $24,000 married DED plus elimination of unconstitutional TAX penalty are manna from heaven. Tax forces folks to purchase something without freedom of choice)…
Most are giving year #1 a “C” or “B” grade — but I give an “A” simply for the against all odds win, plus massive de-regulation of GOVT, and economic improvement. Yes, timeouts & demerits are deserved for bad tweets — as sometimes he fights too hard in both the battles & wars — as 1st potus to double down 😉 And if election result were different in 2016, who ever won would be at top of my prayer list, as this is most important job in country. [/size]
Democrats fear that taking away tax money will take away money from social welfare
While Republicans (and the tax bill) will get more people back to work at higher paying jobs
allowing them to afford healthcare – instead of relying on government insuranceObama doubled down on regulation and welfare programs simply because its hard for people down in the dumps after the great recession to not want free stuff. Problem is, someone is paying for that free stuff – and they can easily pick up and move to another country that will appropriate them for that can do – and that is spend money (which creates taxes and jobs)
[size=5][b]4.9% increase in RETAIL holiday sales (best since 2011) … closing numbers for day are flat with year-end backing & filling of valuations
[color=red]Dow Jones 24,746.21 -7.85 (-0.03%)
S&P 500 2,680.50 -2.84 (-0.11%)
Nasdaq 6,936.25 -23.71 (-0.34%)[/color][/b][/size]At the close
Dow -0.03% to 24,746.28. S&P -0.09% to 2,680.88. Nasdaq -0.34% to 6,936.25.
Treasurys: 30-year +0.29%. 10-yr +0.06%. 5-yr +0.03%.
Commodities: Crude +2.21% to $59.76. Gold +0.68% to $1,287.50.
Currencies: Euro -0.08% vs. dollar. Yen -0.05%. Pound -0.07%.US November prelim durable goods orders +1.3% vs +2.0% expected
US PCE Core MoM for November 0.1% vs 0.1% estimate. YoY Core 1.5% vs 1.5% est.
Canada October monthly GDP 0.0% vs +0.2% expected
Baker Hughes US oil rig count 747 vs 747 prior
NY Fed Nowcast estimate for 4Q GDP at 3.9%
The Atlanta Fed GDPNow falls back below 3%. Back at 2.8% for the current reading.
KC Fed manufacturing index +14 vs +15 expected
US November new home sales 733K vs 655K expected
US Michigan consumer sentiment (Dec. Final) 95.9 vs. 97.2 estimatethis is usually the only day of the year where I actually take a day off
I held on till 3:58
[quote=”CautiousInvestor” post=3902][color=teal][b][size=5]^^^ +3s and THANK YOU for excellent insight for last trading week of the year 8)
HAPPY BOXING DAY (as our Toronto main HQ is closed but all rest of us ain’t that lucky 😉 :)[/size][/b][/color][/quote]At the close
Dow +0.11% to 24,774.08. S&P +0.08% to 2,682.18. Nasdaq +0.04% to 6,939.16.
Treasurys: 30-year +1.03%. 10-yr +0.36%. 5-yr +0.18%.
Commodities: Crude -0.65% to $59.58. Gold +0.37% to $1,292.20.
Currencies: Euro +0.31% vs. dollar. Yen +0.04%. Pound -0.23%.
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