The total labor force surged
The Wall Street Journal reports Goldman Sachs’ CEO Lloyd Blankfein will step at the end of the year,
Breaking down the jobs report for February a bit further, the headline figure of 313,000 was the most for any month since July 2016. Construction jobs grew by 61,000, professional and business services rose 50,000, manufacturing added 31,000 and retail jobs growth was up 50,000. (BLS)
The total labor force surged by 806,000, the biggest move since September 2003, and now sits just below 162 million. The labor force participation rate rose to 63% the highest since September. (BLS)
Stock buybacks in 2018 have averaged $4.8 billion a day, double the pace for the same period a year ago, according to TrimTabs. J P Morgan predicts that stock repurchases will total about $800 billion this year, a new record.
U.S. Steel has increased its full-year earnings forecast, noting President Trump’s tariffs on imported steel and aluminum. The company now expects earnings of $885 million for this year, compared to its prior forecast of $685 million. (Reuters)
The S&P 500 is up 6 and the NASDAQ is up 16. The MSCI international index is higher.
Oil is down 10 cents at $61.27 a barrel.
Gold is down $1 at $1319 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.