U.S. Economic News
August 2, 2017
U.S. Economic Indicators
The ADP Employment Report shows that private-sector employment increased by 178,000 jobs in July, slightly above expectations of 173,000. The services sector added 174,000 jobs and the goods-producing sector added 4,000 jobs. ADP Report
U.S. News
According to the Wall Street Journal, the Trump administration is planning trade measures that will push China to crack down on intellectual property theft and technology-sharing requirements. American businesses have voiced frustration in recent years about Chinese intellectual property theft, pointing to a wide range of business practices that they deem to be unfair. WSJ
The Wall Street Journal writes that OPEC is grappling with how to keep global oil markets calm when their agreement on output limits expires in March of 2018. Market-watchers worry that when the deal ends in March, OPEC producers and other non-members who had agreed to production cuts will return to pumping oil at full capacity, potentially driving prices even lower than they are now. WSJ
According to the Wall Street Journal, the Treasury Department released a statement on Wednesday reiterating the critical need for raising the debt limit. The Treasury has been using cash-conservation tactics since early this year when the government reached its statutory debt limit, though these measures are likely to last only until late September. WSJ