ibt-mailOct 31, 2024, 10:24 AM

US Economic Growth Strong But Unlikely To Impact Election

Newsletter Oct 31, 2024 Quick Six US economic growth strong but unlikely to impact election The US economy posted another strong quarter of growth in the third quarter on Wednesday, less than one week

Newsletter Oct 31, 2024

Quick Six

US economic growth strong but unlikely to impact election
The US economy posted another strong quarter of growth in the third quarter on Wednesday, less than one week before the 2024 presidential election. GDP grew 2.8% but analysts say it remains unclear if data will sway voters between Democrat Kamala Harris and Republican rival Donald Trump in opinion polls about the economy. Driving growth is again strong consumption, economists say, with business investment providing additional support. But Americans remain pessimistic about their financial bottom line.
SEE THE LATEST DATA ABOUT US ECONOMIC GROWTH

National average of gas prices drop to near $3 per gallon
The national average of gas prices in the US is dropping and could fall below $3 a gallon soon. Prices have dropped for the second week in a row to a national average of $3.07 per gallon. With a median price of $2.99, this drop marked a decline of nearly five cents over the past week and a 13-cent drop from last month, Gas Buddy reported. Prices on diesel fuel fell too, with the average now at $3.54 per gallon, the lowest in over three years.
WHICH STATES HAVE THE HIGHEST, LOWEST GAS PRICES?

US job openings decline to lowest point since January 2021
US job openings dropped sharply to a 3.5-year low in September, with the largest impact felt in the South due to the aftermath of Hurricanes Helene and Milton. However, the disappointing report from the Labor Department on Tuesday was overshadowed by a Conference Board survey, which showed a rebound in consumer confidence and growing optimism about the future job market.
WHICH SECTORS SAW THE MOST, FEWEST JOB LOSSES?

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Markets

DJIA	42,141.54	-0.22%
S&P 500	5,813.67	-0.33%
Nasdaq Composite	18,607.93	-0.56%
Japan: Nikkei 225	39,108.05	-0.43%
UK: FTSE 100	8,159.63	-0.73%
Crude Oil Futures	68.88	0.39%
Gold Futures	2,797.90	-0.10%
Yen	153.38	-0.02%
Euro	1.09	-0.06%
* As of market close

Harris back off Biden's 'garbage' comment

Democratic presidential nominee Kamala Harris sought to distance herself Wednesday from comments by President Joe Biden appearing to refer to Republican Donald Trump's supporters as "garbage." Biden caused a firestorm with the remarks, addressing the row that erupted after one of Trump's warm-up speakers at a New York rally referred to Puerto Rico as a "floating island of garbage." Republicans pounced on Biden's comments, which threatened to overshadow a major election speech by Harris outside the White House on Tuesday in which she called for unity under her instead of chaos and division under Trump.

SEE HARRIS' REMARKS ABOUT BIDEN'S 'GARBAGE' COMMENT

Trump makes false claims about 'cheating'

Donald Trump seized on isolated irregularities caught by US election officials to claim "cheating" has occurred, amplifying expectations that he will again reject results if he loses next week's vote. The Republican candidate has consistently declined to commit to accepting the result of the Nov. 5 election, setting the stage for a repeat performance around the unfounded claim that his 2020 loss to Joe Biden was rigged. On Wednesday, Trump denounced what he said was "cheating" at "large-scale levels never seen before" in the swing state of Pennsylvania.

WHY ELECTION OFFICIALS FEAR A REPEAT OF HIS 2020 CLAIMS

Watch your step: NYC legalizes jaywalking

One of the most common offenses committed by New Yorkers is now legal. New York City has officially legalized jaywalking, allowing pedestrians to cross streets outside crosswalks or against traffic signals. While pedestrians may now cross anywhere, they are still required to yield to traffic with the right of way and could face civil liability in accidents. The law took effect after Mayor Eric Adams chose not to act on it within 30 days, following the City Council's approval.

WHY NYC HAS DECIDED TO DO AWAY WITH JAYWALKING LAWS

Extra point

What major US industry was the first to push for jaywalking laws?

Wednesday's answer: The largest legal US sports wager payout was to Jim "Mattress Mack" McIngvale, who won $75 million on the Houston Astros' victory over the Philadelphia Phillies in the 2022 World Series.

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