Factory Orders Rose 1.2 Percent to Start 2017
Factory orders rose 1.2 percent at the beginning of the year. On balance, the hard data in the manufacturing sector continue to show improvement, although the pace has been slower than sentiment indicators alone would indicate. (Wells Fargo)
Economic Activity Picked Up to Moderate Pace in January
The Chicago Fed Survey of Business Conditions (CFSBC) increased to +4 from -13 in January suggesting that growth in economic activity picked up to a moderate pace in January and early February.
Midwest Ferrous Scrap Market Hot
The Midwest ferrous scrap market got off to a red hot start in March as mills worked feverishly to lock up raw materials in what is shaping up to be the perfect storm of strong demand in the face of limited tonnage.
All consumers in Detroit entered the market before lunch on March 2, agreeing to pay prices that were up $40/per ton from last month for cut grades and shredded scrap and $60/per ton higher for prime grades. (AMM)
US Raw Steel Production Retreated Last Week
US raw steel production retreated 0.6 percent last week as mills operated at an ACUR of 74.3 percent. In the corresponding week last year mills operated at an ACUR of 72.5 percent. In the corresponding week last year mills operated at an ACUR of 72.5 percent. Thus far this year mills have produced prox 16,000,000 tons compared to the prox 15,000,000 tons produced in the like period last year. AMM
Job Growth Remains Robust
The pace of job growth remained robust in February with the US adding a seasonally adjusted 235,000 new jobs, clearing the way for the Fed to raise short term interest rates next week. The unemployment rate ticked down to 4.7 percent as both workforce participation and employment rose. (WSJ)
Over the past three months, labor market gains in the form of jobs and wages support consumer spending and a continued domestic economy expansion. (Wells Fargo)
Illegal immigration through our southern border is down 40 percent since President Trump put the hammer down.
Not much news this week and since I was in Florida soaking up some sun, I let no politician piss me off and therefore I found no need to rant
Infrastructure X (Keystone & Dakota pipelines) Regulation Reform XX 1 in 2 out
Individual Tax Reform Entitlement Reform
Business Tax Reform Education Reform
Healthcare Reform X rollback begun Veterans Administration Reform
Rebuild our Military XX $54Billion increase Trade Reform
Secure our Borders (The Wall) XX Lead the world from the front XX
Help for the poor Drain the swamp X as we speak
Peace through unmatchable strength Support Israel
Destroy ISIS Extreme Vetting XX
Conservative Supreme Court nominees XX American Jobs XX
I will track these campaign promises and will check them off as each is accomplished adding those I have missed as they become apparent. This is quite an agenda and will be difficult to achieve all in one term but I believe the American people are behind him and know these things need to be done. Now, if he can get our legislators to support him instead of fighting him….
“MAKE AMERICA GREAT AGAIN”
Have a great weekend…. God bless America!
Buy American made products whenever you can, it’s good for you, good for your friends and neighbors and good for our country.
If you are hiring…try to hire a veteran…. they are loyal, disciplined, hardworking…and they deserve our support.
By the way, if you wish to comment on my rants or offer any other insights you may have, you are encouraged to email me.