Jan 21, 2017

Trump Era Begins : The White House website updates are rolling out. See them at https://www.whitehouse.gov/blog

The White House website updates are rolling out. See them at https://www.whitehouse.gov/blog
  • Has a plan to create 25 million jobs and return to 4% GDP growth
  • “If our partners refuse a renegotiation that gives American workers a fair deal, then the President will give notice of the United States’ intent to withdraw from NAFTA.”
  • Will crack down on those nations that violate trade agreements and harm American workers in the process
  • US will withdraw from TPP
  • No mention of labeling China a currency manipulator
  • Trump will ‘end the defense sequester’
“The President’s plan will lower rates for Americans in every tax bracket, simplify the tax code, and reduce the U.S. corporate tax rate,” it says.
On trade, “The President plans to show America’s trading partners that we mean business by ensuring consequences for countries that engage in illegal or unfair trade practices that hurt American workers.”
I don’t think we’re going to see this one:

Coming Week 23 January 2017 : US GDP, earnings, Brexit ruling

With Donald Trump sworn in as the 45th president of the United States, investors will have their eyes peeled next week for more concrete details on his policies. The UK will also be in the spotlight as the Supreme Court rules on the government’s Brexit appeal.
Here’s what to watch in the coming days.

Brexit ruling
 In her speech earlier this week UK prime minister Theresa May UK prime minister Theresa May pledged to take Britain out of the EU and to seek a “bold and ambitious” trade agreement with the bloc. But on Tuesday, the UK supreme court will deliver its ruling on whether Mrs May can begin the process for Britain to exit the EU without parliamentary approval.
“We look for the court to rule that Parliament must vote to trigger Article 50, but any rally in [the pound] should be limited and short-lived,” strategists at TD Securities, said.

In the US, the latest snapshot of US GDP remains the big ticket item on investors’ agenda. The data, scheduled for Friday, are expected to show that economic growth slowed in the last three months of the year. Growth is expected to have cooled to 2.2 per cent in the fourth quarter, from the previous quarter when it expanded by 3.5 per cent.
The report is expected to show that the US consumers remained healthy and business investment remained strong. Exports are however expected to be a drag on growth, driven by soybeans. Third quarter growth was buoyed by exports of the commodity after flooding in Argentina drummed up demand for soybeans.
The UK will also publish data that are expected to show that fourth quarter growth cooled to 0.5 per cent from the previous quarter when it climbed 0.5 per cent.

US earnings
More than a fifth of the companies listed on the S&P 500 are slated to report fourth quarter results next week, including Google-parent Alphabet, the second largest company in the world. Analysts expect that earnings climbed to $7.67 a share and estimate revenues of $20.9bn.
Microsoft, McDonald’s, Starbucks, Intel, Comcast, Yahoo, Verizon, Ford and Caterpillar are among the others slated to report results.
Posted on Saturday, January 21, 2017 | Categories: