April Increased Industrial Production for Largest Gain in 3 Years
April increased industrial production 1 percent, despite mixed signals from survey data. The latest report on the industrial sector suggest broad firming in manufacturing activity as industrial production increased, yielding the largest gain in three years and more than double the 0.4 percent increase that had been expected. (Wells Fargo)
The Conference Board Leading Economic Index (LEI) for April Reports Index Increased Following Increases in March and February
The recent trend in the US LEI, led by the positive outlook of consumers and financial markets, continues to point to a growing economy, perhaps even a cyclical pickup,” said Ataman Ozyildirim, Director of Business Cycles and Growth Research at the Conference Board. “First quarter’s weak GDP growth is likely a temporary hiccup as the economy returns to its long term trend of about 2%.”
The Federal Reserve Bank of Philadelphia May 2017 Manufacturing Business Outlook Survey
Results report that regional activity continued to expand in the month.
The Federal Reserve Bank of New York Empire State Manufacturing Survey for May 2017
Business activity leveled off during the month with the general business conditions index falling, the new orders index fell as did the shipments index and the new orders index. Indexes assessing the six month outlook were close to last month’s levels and continued to convey a high degree of optimism about future conditions.
US Operating Drill Rigs Increased by 8
The number of drill rigs running in the USA increased by 8 last week, all from the great state of Texas. Meanwhile Canadian drilling fell by a further two rigs (to 80) compared to the previous week. AMM
SBQ Prices Flat
AMM kept its special bar quality (SBQ) prices flat last week but sources are confident that a recently launched price hike will take hold given robust market dynamics and lead times.
US steel distributors saw daily shipment levels maintain momentum in April despite fewer shipping days during the month while inventories remained lean. AMM
US Raw Steel Production Retreated
US raw steel production retreated by 0.5 percent last week as mills operated at an ACUR of 74.1 percent. In the corresponding week last year mills operated at an ACUR of 74.1 percent. Thus far this year mills have produced prox 40,000,000 tons compared to the prox 32,000,000 tons produced in the like period last year. (AMM 5/17/17) (the number of tons produced last week may be an error as we have been about 1,000,000 tons over the previous years’ production for some time. Last week’s number for the prior week was prox 32,000,000 tons. If I see a correction I will advise.)
White House Sieve
Secure meeting between President Trump, General McMaster and Russia’s Foreign Minister Sergei Lavrov and Ambassador Sergei Kislyak. Someone in the room leaks that Trump has provided the Russians with national security information. The spotlight, of course, is on the president for sharing (it is in fact, his prerogative) but to me the more pertinent question is; who leaked the information? These continual leaks coming out of the White House are a real concern and what is most concerning is that the FBI, CIA, NSA…none of them, for all the money we spend on security, can find out who leaked the information in this situation or who has been leaking information from prior situations where leaks have been made.
US trade representative Robert Lighthizer has notified Congress that President Donald Trump intends to renegotiate the North American Free Trade Agreement (NAFTA).
We intend to initiate negotiations with Canada and Mexico as soon as practicable, but no earlier than 90 days from this notice.” Lighthizer wrote in a May 18 letter to Congressional leaders. AMM
The President’s Prerogatives
Do any of the Democrats or Never Trumpers understand that FBI Director James B. Comey worked at the pleasure of the President of the United States? An ACT OF CONGRESS grants the president the prerogative of firing him at any time, for any reason. Why are they still harping on this?
The same fools also refuse to believe that the president has the authority to stop any person, any group of persons from any country from entering the United States of America if he feels it is in the interest of our national security. Why are they still fixated on this? Is there any doubt about the strategy of resistance or obstruction being waged against President Trump, his administration and his agenda by the left and those on the right who are afraid of being drained from the swamp?
I cannot get over this blatant display of antipathy toward the well-being of the United States and her citizens. Wake up America, these people are against you, not for you. They are for themselves and themselves alone. Hopefully their shenanigans will be fully realized by the American voting public in time to give the Democrats and cretin Republicans a severe thrashing in November 2018.
DRAIN THE SWAMP
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 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.