U.S. economic optimism soars

“American optimism on the economy is reaching new heights and President Donald Trump’s approval ratings look to be benefiting,” Steve Liesman reports for CNBC. “The CNBC All-American Economic Survey found that for the first time in at least 11 years, more than half of respondents to the survey rated the economy as good or excellent, while a near record 41 percent expected the economy to improve in the next year.”

“‘We’re not measuring a marginal change in the economy, we’re measuring a different economy,’ said Public Opinion Strategies’ Micah Roberts, the Republican pollster for the survey. The poll of 800 adults across the nation, with a margin of error of 3.5 percentage points, was conducted Dec. 10-13 by that firm and Democratic pollster Hart Research,” Liesman reports. “The survey found that 42 percent of Americans expect their wages to rise in the next year, and 41 percent of homeowners see their home values going up, the highest level recorded since 2007. In 2011, while the country remained in an economic funk from the financial crisis, just 15 percent of homeowners thought their home prices would rise.”

“With gross domestic product rising strongly the past two quarters and the unemployment rate remaining low, Trump’s approval rating has jumped,” Liesman reports. “Forty-two percent in the poll approve of the job Trump is doing as president, up 4 points from the September survey, while 49 percent disapprove, down 3 points… Forty-seven percent approve of his handling of the economy, up 4 points from September, while 43 percent disapprove, up 2 points. For the first time during the Trump presidency, more than half of independents approved of the president’s economic stewardship. The president also improved his standing with women and blue- and white-collar workers.”

Read more in the full article here.

MacDailyNews Take: Increased American optimism certainly bodes very well for the economy in general and for makers of coveted goods, like Apple, in particular.

Now, bring on the much-needed U.S. personal income and corporate tax reform and repatriation tax holiday!

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U.S. employment jumps more than expected in November, boosts U.S. stocks – December 8, 2017