News 

In tax push, Trump’s team uses a dubious growth estimate

“Economic growth at that level would, in theory, be enough to keep the national debt from rising” writes The Associated Press for seattletimes.com. WASHINGTON (AP) — The Treasury Department just gave Republicans ammunition that their tax cuts would pay for themselves.None of the top academic economists surveyed by the University of Chicago said the tax cuts would likely generate enough growth to pay for themselves. Both Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan have said that the tax cuts wouldn’t add to budget deficits.But most analyses have…

Read More
News 

Lowe’s quarterly profit more than doubles

“Lowe’s shares, which have risen about 15 percent this year, were trading down about 1.5 percent at $80.28 in premarket trading” reports foxbusiness.com. Compared with the bumper results last week for larger rival Home Depot Inc (HD), the roughly $1 billion or 6.6 percent rise in Lowe’s sales was not enough to send its shares higher before the bell.(Reuters) – Lowe’s Cos Inc’s (LOW) third-quarter comparable sales topped analysts’ estimates on Tuesday, helped by hurricane-driven demand for its building materials and a push on the volume of business it does…

Read More
News 

Target’s holiday-quarter profit forecast disappoints, shares dip

“Excluding items, the company earned a profit of 91 cents per share, beating the average analyst estimate of 86 cents” reports foxbusiness.com. The Minneapolis-based retailer forecast adjusted earnings of $1.05 to $1.25 per share for the quarter ending January 2018, considerably below the average analyst estimate of $1.24. Sales rose 1.4 percent to $16.67 billion, higher than the average analyst estimate of $16.61 billion.Same-store sales in the third quarter also topped estimates, rising 0.9 percent as the price cuts drove a 24 percent jump in comparable online sales. Source: foxbusiness.com Share…

Read More
News 

Target forecasts a disappointing holiday quarter

“Excluding items, the company earned a profit of 91 cents per share, beating the average analyst estimate of 86 cents” writes Sruthi Ramakrishnan for businessinsider.com. (Reuters) – Target Corp issued an underwhelming profit forecast for the key holiday quarter, as it continues to depend on price cuts to drive traffic to its stores and websites, sending its shares down 3 percent in premarket trade.The department store operator forecast adjusted earnings of $1.05 to $1.25 per share for the quarter ending January 2018, largely below the average analyst estimate of $1.24.The…

Read More
News 

German GDP grows 3.3%, outstripping forecasts

“FRANKFURT–The German economy moved up a gear in the third quarter, underpinned by a pickup in global demand and higher corporate investment” writes Nina Adam for marketwatch.com. The German government’s Council of Economic Advisers last week raised its economic growth forecasts for 2017 to 2.0% from an earlier estimate of 1.4%.”The German economy is experiencing a major upturn,” the council said in its annual report.Destatis said that third-quarter growth was led by improvement in foreign trade amid rising demand for high-end tools and machinery.In addition, Destatis significantly lifted its GDP…

Read More
News 

Neil Young to auction model train collection, classic cars

“A portion of the auction proceeds will benefit the Bridge School in California, which Pegi Young co-founded in 1986 for children with severe speech and physical impairments” reports autoblog.com. The Canadian folk-rock star is putting more than 230 of his vast collection of Lionel trains and some of his cars up for auction in Los Angeles in December. Source: autoblog.com Share This:

Read More
News 

The US economy is about to get even stronger, Atlanta Fed model shows

“The Atlanta Fed model looks at multiple, current measures of economic activity and uses them to forecast where the overall economy is headed” writes Luke Sharrett for cnbc.com. The latest estimate for fourth-quarter GDP growth is much faster than the 2.9 percent rate the model showed Monday, the Atlanta Fed said.Or at least that’s what an economic model at the Atlanta Federal Reserve is showing.The GDP Now forecast has roughly tracked the government’s initial estimate of the U.S. economy.That would be a sharp pickup from the third quarter, which the…

Read More
Futures News 

Orange juice futures drop, hurricane hit to Florida crop less than feared

“Investors sold off orange juice futures Thursday after a federal government forecast a decline in Florida’s orange crop won’t be as severe as some predicted” writes Jeff Daniels for cnbc.com. The USDA report represented the agency’s first initial estimate of Florida’s orange crop for the 2017-2018 season, so it could be revised later. Source: cnbc.com Share This:

Read More
News 

Pound continues rally ahead of industrial and manufacturing production figures

“As a result, we look for zero month-to-month growth in total industrial production in August.”” writes Matthew Lynn for telegraph.co.uk. Meanwhile, loading estimates from North Sea oil producers point to around a 3% month-to- month decline in oil production.If correct on the figures, it “would be touch and go” as to whether the first estimate of third quarter would undershoot the central bank’s Monetary Policy Committee’s estimate of 0.3pc growth, it said. Source: telegraph.co.uk Share This:

Read More
News 

US economic growth hits a 2-year high

“GDP, the value of everything produced in America, was revised up to an annualized growth rate of 3.1% from 3%” writes Akin Oyedele for businessinsider.com. Most economists think low productivity growth could keep economic growth below 3%.US economic growth in the second quarter was stronger than previously thought, according to the Commerce Department’s third estimate of gross domestic product released Thursday.The 3.1% growth rate is ahead of President Donald Trump’s stated 3% target for the economy. Source: businessinsider.com Share This:

Read More