By Steve Schneider ©Richardcyoung.com
Unemployment is extremely low, wage growth is accelerating, and Americans are confident. Donald Trump is presiding over one of the strongest economies in decades. Trump has kept his promise to working class Americans by forcing unfair traders to come to the negotiating table, and cutting taxes on corporations so America can compete against its first world peers.
Riva Gold explains in the Wall Street Journal the market’s reaction to the Trump administration’s renewed negotiations with China. She writes (abridged):
The latest boost for stocks appeared to come from news the Trump administration is giving Beijing another chance to try to stave off new tariffs on $200 billion in Chinese exports, asking top officials for a fresh round of trade talks later this month.
U.S. retail sales figures for August are due later Friday after data showed Americans boosted their spending in July. Another strong reading would be important for market sentiment, particularly for shares of consumer-oriented stocks, in light of a recent pickup in wage growth.
A robust economy drove U.S. wages higher in August, data showed last week, with private-sector hourly wages growing 2.9% from a year earlier, the fastest pace since mid-2009.
Read more here.
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