Archive for John Carney

Gas Tax Threatens to Erase 60 Percent of Tax Cut Benefit


A higher gas tax would take away much of the benefit from individual tax cuts, slow the economy, and improve Democrats' chances in November.

Report: Jared Kushner’s Debt Rose by Millions During His First Year in the White House


Ivanka Trump's latest financial disclosure forms show millions more in debt after a year in the White House.

Consumer Prices Rose by More Than Expected in January

AP Photo
U.S consumer prices increased by more than expected in January.

Wednesday’s Inflation Data Could Send Stock Market on Another Wild Ride

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The government will report on inflation Wednesday. A move higher than 0.2 percent over last month's prices may cause the market to convulse.

Record Number of Small Business Say Now Is a Good Time to Expand


Small business optimism is booming. Optimism among small businesses in the U.S. rose by more than expected, with a record number of small business owners saying now is a good time to expand, according to the National Federal of Independent Business survey released Tuesday.

Trump Says U.S. Will Impose a ‘Reciprocal Tax’ on Imports

Donald Trump, Susana Martinez, George Flaggs, Jr., Elaine Chao, Pete Ricketts, Esteban Bovo, Jeff Longwell,
Trump previews a new round of trade penalties to be applied against other countries that tax U.S. products.

Stocks Soar As Rebound Pushes Dow 400 Points Higher


Monday's gains were spread widely through the market with 10 of the 11 S&P sectors up. The energy sector saw the best performance of the day, boosted by rising energy prices.

Zombie Subsidy! Hollywood Corporate Welfare Rises from the Grave


A subsidy that died at the end of the Obama era was surprisingly revived by the budget bill, albeit as a strange, undead beast.

A Wild Day To End Wild Week: Stocks Bounce Back After Huge Dive

Traders work on the floor of the New York Stock Exchange (NYSE) on March 11, 2016
In a wild end to a wild week in the stock market, the Dow Jones Industrial Average stocks fall by as much 500 points only to soar later.

It’s Not Over: Dow Drops More Than 1000 Points

Stock Market
Just when you thought it was safe to go back into the stock market again, stocks are falling again Thursday.

Stocks and Bonds Go on Another Wild Ride Wednesday


With another morning plunge, followed by a rally, followed by a tumble, stocks put investors on a wild ride Wednesday.

After A Day of Wild Market Swings, Dow Closes 567 Points Higher

AP Photo
After crashing downward at the open, stocks rose to end the day in positive territory, producing a wild day.

Trade Deficit Soars to Highest Level Since 2008

A record trade deficit with China last year helped fuel the biggest US trade gap in a decade, bad news for President Donald Trump who had made reducing the imbalance with US trading partners a signature issue of his administration
Despite talk of "America First," the Trump administration has failed to reduce our deficit in goods and services with the rest of the world.

Stocks Bounce Back Amid Investor Fears, Then Sink Again

stock-market-nyse
If you woke up early Tuesday, the market looked like it was going to sell off dramatically. If you slept in, you missed the panic.

Ray Dalio: Stock Market Drop Is a ‘Taste’ of What Fed Tightening Will Bring


The recent stock market declines are "minor corrections," according to Ray Dalio, founder of the world's largest hedge fund.

WILD RIDE: Dow Plunges By More Than 1100 Points Before Bouncing Back A Bit


Stocks raced sharply downward on Monday, with the Dow Jones Industrial Average falling by more than 1,100 or around 4.5 percent. Monday’s sell-off was not only deep but widespread, with all 11 sectors in the S&P 500 index posting declines. Financials, health-care, and energy sectors saw the steepest declines. The declines erased the gains in the major stock indexes for the year. The Dow’s decline was the worst since the U.K. surprise vote to leave the European Union. After a bumpy morning, the sell-off took on steam in the afternoon. The Dow shed hundreds of points when the sell-off really took off beginning around 2 P.M.

White House Says It Is Concerned About Stock Market Sell Off


“We’re always concerned when the market loses any value, but we’re also confident in the economy’s fundamentals," a White House official said.

U.S. Service Sector Hits 13-Year High


The U.S. service sector picked up momentum in January, reversing a slowdown at the end of 2017.

Fed Drops Hammer on Wells Fargo, Ousts Four Directors, Orders Bank Not To Grow

Wells Fargo's woes continue as the banking giant announced its broadening investigation uncovered 1.4 million new phony accounts
The Fed slammed Wells Fargo with a far-reaching order that limits its growth and requires the replacement of four board members.

Stocks Take Biggest Tumble in Two Years

stock-market-nyse
The Dow is down by around 3.6 percent for the week, making this the worst week for stocks since January 2016.

Economy Adds 200,000 Jobs in January, Beating Expectations

jobs rise
Jobs grew by more than expected in January.

Atlanta Fed Sees GDP Rocketing to 5.4% in First Quarter


Good news about manufacturing and home construction has pushed up the Atlanta Fed's forecast to an eye-popping level.

Popularity of Trump Tax Reform Skyrockets as More Americans Realize It Cut Their Taxes

Donald Trump smiles at State of the Union (Win McNamee / AFP / Getty)
The approval rating of tax reform has jumped by 19 points as many more Americans have learned it cut their taxes.

Federal Reserve Leaves Rates Unchanged But Says Economy Looks Stronger

Federal Reserve Board Chair Janet Yellen leaves her post on a high note at a time when the economy is growing, inflation is tame and unemployment is at a record low
Employment, household spending, and business investment have made solid gains, according to the Federal Reserve.

The Trump Administration 5G Wireless Plan Is Not Nationalization and It Is Not Dead

Ajit Pai
Under the plans being discussed with technology leaders, the government would promote a 5G network but not own or build it.

Trump Administration’s Counter-China Wireless Plan Hits Opposition from Telecom Giants

Ajit Pai
A clash arises between telecom players such as AT&T and Verizon against officials in the Trump administration's national security team.

Shares of Wynn Resorts Tank After Steve Wynn Accused of Sexual Misconduct

Steve Wynn
Shares of the Wynn casino and hotel company fell by more than 10 percent after the Wall Street Journal published allegations of misconduct.

U.S. GDP Grows 2.6%, Slower Than Forecast

Donald Trump
Consumer spending and business equipment investment accelerated but trade and inventories dragged down overall economic growth.

Why Toys R Us Can’t Win Anymore

Toys R Us
Looked at through the lens of recent history, the story of Toys R Us resembles the plight of the American middle class.

Cohn: Trump Will Sell ‘America First But Not Alone’ Agenda in Davos

gary cohn
Donald Trump is headed to the world's top globalist gathering in Davos, Switzerland to tout his economic accomplishments and encourage investment in the United States, White House officials said Tuesday.

Disney to Give Employees $1K Cash Bonuses and Launch $50M Education Program

NEW YORK, NY - NOVEMBER 27: (L to R) Chief executive officer and chairman of The Walt Disney Company Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange (NYSE), November 27, 2017 in New York City. Disney is marking the company's 60th anniversary as a listed company on the NYSE. (Drew Angerer/Getty Images)
Another 125,000 American workers will get bonuses following the historic tax overhaul passed late last year.

Government Charges KPMG Executives with Revolving Door Conspiracy

KPMG agreed to pay $6.2 million to settle SEC charges that its audit of the oil and gas company Miller Energy Resources had left investors "misinformed" about the company's value
Six accountants were allegedly involved in a scheme to obtain and misuse confidential information from government watchdog.

IMF: Trump Tax Reform Will Accelerate Growth in U.S. and Around the World


United States tax cuts will result in faster economic growth not only in the U.S., but around the world. Canada and Mexico are seen as major beneficiaries of a stronger U.S. economy.

S&P 500 and Nasdaq Hit Record Highs as Stock Shrug Off Schumer Shutdown

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Stocks rose in Asia and Europe on Monday. In the U.S., broad stock indexes rose while the Dow Jones Industrial Average was flat.

Jobless Claims Hit 45 Year Low, GDP Looks Strong, Manufacturing Growth Powers Forward

US Manufacturing
A trio of economic data released Thursday indicate that the economy is growing, fewer Americans are losing jobs, and manufacturing is strong.

A Government Shutdown Will Not Crash the Stock Market

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Stocks only fall in about 50 percent of government shutdowns and the average decline is less than one percent.

Trump Says He Is Considering a Big Fine Over Chinese Intellectual Property Theft

Donald Trump, Xi Jinping
"We have a very big intellectual property fine going, which is going to come out soon," Trump said to Reuters.

Fiat Chrysler CEO: Moving Ram Production to Mexico Was a Mistake


"This notion of making a car in Mexico which has got nearly 100 percent utilization in the United States is a bit bizarre," Fiat Chrysler CEO Sergio Marchionne said.

BlackRock’s Betrayal: #Woke Wall Street Pushes Leftist Agenda on Corporate America

George Washington statue, New York Stock Exchange
The $6 trillion investment company demands that corporate leaders follow an agenda built around climate change fears and "diversity."

MAGA: Citigroup Will Use Pay Raises to Narrow Gender and Racial Gaps

AP Photo
An economic agenda dedicated to putting Americans first is not only pushing unemployment down to record lows, it's narrowing pay gaps also.
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