Yesterday, Andy spoke with Stuart Varney about the impressive 2.9 percent wage growth in the January Jobs Report announced this morning. Compared with a year earlier, that’s the fastest year-over-year growth since the last recession. “The economy is on fire, which means that more working and middle-class Americans are going to benefit,” said Andy. “These numbers show that’s exactly what’s happening.”
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Andy then weighed in on the Federal Reserve Bank of Atlanta projecting 5.4 percent GDP growth in the first quarter of 2018, which would be the best quarter since the Great Recession ended in 2009. Should it hold, this forecast would be a direct reflection of President Trump’s regulatory rollbacks and tax reform.
Also discussed was the 300 companies that have announced tax reform bonuses, pay raises, or 401(k) hikes for workers. “The number is bigger than we think,” Andy argues. “There are a substantial amount of small companies that don’t make these kinds of public announcements that have increased compensation to stay competitive for workers.”
Lastly, Andy was asked to comment on the news that Apple posted sales of $88.3 billion in the final three months of 2017, beating its own forecast and setting a new quarterly record for the company – turning a record $20 billion profit. Andy thinks Apple will place more of a focus on ‘buying innovation’ through investing in innovative companies, and put the cash position to work. The brand announced they will also be adjusting to a net-cash neutral position over time – meaning, an equal amount of cash and debt.
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