Whether it’s regarding retirement planning or financial and estate planning, most people in the US are watching Donald Trump and his team carefully to see what tax decisions might be made in the coming months.
On December 2, the Labor Department reported that the unemployment rate has dropped to 4.6%. There was a surge in local government hiring, which could have been driven by the November 8 U.S. election.
Despite early doubts it was possible, members of the Organization of Petroleum Exporting Countries reached an agreement to set a target production of 32.5 million barrels per day “in order to accelerate the ongoing drawdown of the stock overhang and bring the oil market...
“Russia has already publicly indicated it is ready to cut production in the first half of 2017 by up to 300 thousand barrels of oil per day (mbpd), although it is not completely clear from which level production will be cut”, the agency said.
Bouterfa said Algeria’s proposals called for 1.1 million barrels per day (bpd) in cuts by OPEC members and decreases totalling 600,000 bpd by non-members, SHANA reported.
“Trump is inheriting a strong economy, an economy that is near full employment and clicking on nearly every cylinder”. The average work week for all workers was unchanged at 34.4 hours.
“This positive jobs report is another indication that the USA economy continues to pick up steam”, said Tony Bedikian, managing director and head of global markets at Citizens Bank.
While OPEC’s decision to cut production gave an immediate boost to oil prices, the impact on consumers and the US economy is likely to be more modest and gradual.
Mr Trump’s choice as deputy at the Commerce Department, Todd Ricketts, is the son of a billionaire and the co-owner of the Chicago Cubs baseball club and Steven Mnuchin, who Mr Trump hopes will be his Treasury Secretary, is a former Goldman Sachs executive, hedge fund...