U.S. stocks followed the lead of global equities, which rallied on a report over progress with trade talks between the U.S. and China. It appears that ninety percent of the deal with China is done.
Employers in the private sector hired 129,000 workers in March, according to the payroll company ADP. That was the weakest showing in 18 months and missed the consensus among economists for job gains of 165,000.
Service-oriented companies such as banks, retailers and tech developers expanded in March at the slowest pace in 19 months, but top executives remained “mostly optimistic” about the U.S. economy, a new survey shows. The ISM non-manufacturing index slipped to 56.1% last month from 59.7% in February, which was among the highest readings in the past decade. Numbers over 50% are viewed as positive for the economy, and anything over 55% is considered exceptional.
Oregon’s projected “kicker” tax rebate will decrease by $108 million under a bill passed by Democrats in the state Senate yesterday. For individual Oregon taxpayers, that would translate to a 14.5 percent reduction to their kicker rebate when they file their taxes in 2020, if state economists’ most recent revenue forecast holds. In February, economists predicted the kicker could reach $748.5 million. It represents the amount of taxes collected above and beyond what state officials projected they would take in before the start of the two-year state budget cycle.