Economic News
The macro economy has a large impact on your personal finances. To help you manage your money better we track the import economic trends. Stay up to date so you can be prepared to adjust your personal finance strategies.
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President Trump Announces New Tariffs on Goods From Mexico
Another week, another round of trade news. On Thursday night, President Trump announced that his administration would be imposing new tariffs on Mexican imports that are set to take effect in just a couple of weeks. What’s more, unlike the more targetted tariffs on Chinese goods that apply to specific types of items, Axios reports…
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JP Morgan Economists Lower Q2 2019 GDP Estimate to 1% Growth
The last time the Bureau of Economic Analysis announced the United States’ quarterly gross domestic product growth, analysts were surprised to learn actual growth was 3.2% — far higher than the 2.5% rate that many expected. However economists at JP Morgan aren’t expecting a repeat performance for Q2. In fact they’re slashing their estimates by…
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U.S.-China Trade War Escalates, Stocks Fall
Just a couple of weeks ago it seemed that the United States and China were on their way to reaching a trade deal. This hope even played a role in helping the S&P 500 and Nasdaq indices reach record highs. Unfortunately, late last week, President Trump announced that tariffs on Chinese goods would increase from…
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United States Unemployment Falls to 49-Year Low
Another week, another better-than-expected economic report. Today the United States Labor Department issued its latest jobs report showing that the economy added 263,000 jobs in the month of April. Not only does that top the 213,000 jobs MarketWatch‘s poll of economists had anticipated but also helped bring the unemployment rate down to a level not…
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United States’ Q1 GDP Growth Exceeds Expectations
Following a relatively weak fourth quarter that brought down the United States’ 2018 average gross domestic product growth to just below 3%, the economy managed to to exceed expectations and roar back in the first quarter of 2019. According to CNBC, a poll of economists estimated the quarter’s GDP growth to be 2.5%. Instead the Bureau…
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S&P 500, Nasdaq Reach Record Closing Highs on Tuesday
Ever since U.S. markets took a tumble on Christmas Eve of last year, much has been made about an impending turnaround. Earlier this week those fears seemed far out of mind as the S&P 500 and the Nasdaq both closed at record highs. As for the Dow Jones Industrial Average, it wasn’t far behind either.…
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Home Mortgage Applications Reached a Nine-Year High Last Week
Despite some parts of the country seeing snow this past week, make no mistake that it is officially spring. That means that, in addition to blooming trees and allergies, it’s time for home sales to pick back up after the slower winter season. On that note it seems that the homebuying bug is already biting…
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President Trump Says Stocks Should Be 10,000 Points Higher, Blames Fed
Even though consensus suggests that Federal Reserve is unlikely to raise interest rates this year, that doesn’t mean that President Trump’s battle with the agency is cooling any. In fact the war of words has escalated into political action as the President looks to install supporters of his own on the Board of Governors. On…
