Personal Income

Futures Fall On Rising Trump Uncertainty; Europe Stocks Rise As Euro-Area Inflation Surges

European bonds fell and stocks rose led by banks and retailers as surging inflation data prompted investors to switch into reflationary assets even as speculation about ECB tapering has returned. Asian stocks and US equity futures declined. The Yen and gold advanced after Trump’s firing of the U.S. acting attorney general added to concern over the unpredictability of decisions in the new administration.

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U.K. Prime Minister Theresa May was hoping to bypass Parliament on when and how to trigger divorce proceedings with the European Union. Then the Supreme Court set her straight. So this week lawmakers discuss for the first time a short bill giving her permission to invoke Article 50 of the EU’s Lisbon Treaty.

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U.K. Prime Minister Theresa May was hoping to bypass Parliament on when and how to trigger divorce proceedings with the European Union. Then the Supreme Court set her straight. So this week lawmakers discuss for the first time a short bill giving her permission to invoke Article 50 of the EU’s Lisbon Treaty.

Key Events In The Coming "Big Week" For The US

Markets will again zero in on the U.S. this week, and not just because of Donald Trump. The Federal Reserve meeting and nonfarm payrolls may set a clear direction for dollar and yields for the next few months. Other key releases include ISM, ADP, housing data, personal income & spending, vehicle sales and core PCE.

Global Stocks, Futures Slide On US Protectionism Worries Following Trump Travel Chaos

European, Asian stocks and S&P futures all drop after traders were left with a sour taste from the potential fallout of Donald Trump’s order halting some immigration and ahead of central bank decisions from the U.S. and Japan.  Markets in Hong Kong, China, Malaysia, Korea, Singapore, Taiwan and Vietnam are all shut due to the Lunar New Year public holiday.

Earnings Season So Far: 27 Of 42 Reporting Companies Cite "Trump" Or "Administration"

Of the 42 S&P 500 companies reporting Q4 earnings so far, 27 cited the term “Trump” or “administration” during their Q4 earnings calls. Tax policy was cited or discussed by the highest number of S&P 500 companies at 11. Six of these 11 companies stated that if taxes were lowered, it would benefit their clients or themselves.

Top Ex-White House Economist Admits 94% Of All New Jobs Under Obama Were Part-Time

We find that 94% of net job growth in the past decade was in the alternative work category,” said Obama's former top White House economist Alan Krueger. In other words, nearly all of the 10 million jobs created between 2005 and 2015 were not traditional nine-to-five employment, but low-paying temp, on-call, contract workers, independent contractors or freelancers.

Disposable Income Per Capita Grows At Weakest Rate Since 2014

For the 3rd month in a row, annual US spending growth has outpaced annual income growth (+4.2% spending vs +3.5% income). However, both spending and income growth MoM disappointed (with incomes unchanged MoM - the weakest since Feb 2016). Combine these two and the savings rate in November plunged to its lowest since March 2015.

Global Stocks Decline As Trading Volumes Collapse Ahead Of Monte Paschi Nationalization

European, Asian stocks and S&P futures all declined amid collapsing volumes, after the Wednesday drop in the S&P500, and after oil prices held losses amid an unexpected increase in supplies, as traders close out trades ahead of the holidays. European stocks edged lower, led by miners, and U.S. stock futures stagnated after the Dow Jones Industrial Average failed to make progress toward 20,000 Wednesday.

Key Events In The Coming Pre-Holiday Week

The key economic releases this week are durable goods and GDP on Thursday. Chair Yellen’s speech on the labor market on Monday afternoon is also likely to garner considerable attention.