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California’s gross domestic product grew 3.4% in 2017, surpassing $2.7T, boosted by a thriving Silicon Valley, Hollywood and the nation’s “salad bowl” in the Central Valley agricultural heartland.
The Golden State’s big leap would oust the U.K. as the world’s fifth largest economy, which had a GDP of $2.625T, according to data published by the IMF.
PBOC sets USD/CNY reference rate at 6.3584 vs 6.3521 on Friday
PBOC’s Yi Gang says no FX intervention over the past year:unsure:
I'll cut a cheque right now if you put up California as collateral pic.twitter.com/nAnrmivB4M
— GotSanctuary (@GotSanctuary) April 30, 2018
March Consumer Credit increases $11.7B (M/M) vs. $16.2B consensus and $13.64B prior (revised from $10.6B).
More than 77% of U.S. manufacturers are finding it difficult to hire workers to fill openings, according to the Institute for Supply Management’s Spring 2018 Semiannual Economic Forecast.
As a result, 53.3% of manufacturers surveyed have raised wages to recruit new hires.
For the non-manufacturing sector, 64.4% of those surveyed said they’re having difficulty in filling open positions; however, only 35.7% said they increased wages to recruit new hires.
Both manufacturing and non-manufacturing supply management executives expect economic growth to continue: Manufacturing revenue is forecast to jump 6.6%, while non-manufacturing revenue is seen rising 3.2%.Lt. Col. Oliver North is set to lead the National Rifle Association of America as president, a process the NRA Board of Directors initiated Monday, the group announced
At the close
Dow +0.36% to 24,350.58. S&P +0.27% to 2,670.52. Nasdaq +0.75% to 7,263.13.
Treasurys: 30-year 0%. 10-yr 0%. 5-yr -0.01%.
Commodities: Crude +0.13% to $69.81. Gold +0.02% to $1,314.90.
Currencies: Euro -0.31% vs. dollar. Yen -0.07%. Pound -0.23%.FLOTUS: “Together, let’s encourage children to dream big, think big, and do all they can to be best in everything that they do.”
The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks — and this more to pay to Uncle Sam.
All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That swamped the previous monthly record of $190 billion, set in 2001.
CBO analysts were surprised by the surplus, which was some $40 billion more than they’d guessed at less than a month ago.
Analysts said they’ll have a better idea of what’s behind the surge as more information rolls in, but for now said it looks like individual taxpayers are paying more because they have higher incomes.
“Those payments were mostly related to economic activity in 2017 and may reflect stronger-than-expected income growth in that year,” the analysts said in their monthly budget review. “Part of the strength in receipts also may reflect larger-than-anticipated payments for economic activity in 2018. The reasons for the added revenues will be better understood as more detailed information becomes available later this year.”
Official numbers are due out from the Treasury Department in a few days, but the CBO is usually accurate to within a couple billion dollars.
[color=red][b]PPPPPLLLLUUUUNNNGGGEEEEE … both OIL & EQUITIES …
as #45 will NUKE the IRAN NUKE deal 😉 :woohoo:[/b][/color]
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