10.30.2017

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10.30.2017
NEED TO KNOW.
Economy Grows at 3% Rate in Third Quarter.
The Bureau of Economic Analysis (BEA) reported Friday that the US Gross Domestic Product (GDP) increased by an annualized 3% between July and September. The brisk pace followed a 3.1% increase in the second quarter - the first time growth cracked the 3% mark since the first quarter of 2015. The economy rode the back of increased spending by consumers and businesses - though analysts pointed out that another key indicator, final sales to domestic purchasers, slowed from 2.7% to 1.8%. President Trump set a 3% target during his campaign - and higher growth means increased tax revenue, emboldening some supporters of tax reform - though members of the National Association of Business Economics expect growth to level off to around 2.3% next year. 

Mueller to Unveil First Indictment in Russia Probe.
The first indictment in special counsel Robert Mueller's probe into potential Russian interference in the 2016 election campaign is expected to become public today, following its approval by a federal grand jury on Friday. The target of the indictment is unknown - though news of the indictment leaked in a Friday CNN report - but many expect it may be former campaign manager Paul Manafort or former National Security Adviser Michael Flynn. The charges mark the transition of Mueller's probe into an important new phase - reports over the weekend suggested that one person may even be taken into custody today. 

Spain Imposes Direct Rule on Catalonia. 
The Spanish government imposed direct rule on the Catalonia region over the weekend dissolving the regional parliament and calling for new elections. The move came as the Catalan parliament simultaneously voted to declare independence from the central Spanish government. The ratcheting up of tensions was set in motion by an October 1st referendum which saw only 43% of eligible voters turn out - 90% of which supported Catalan independence. Spanish Prime Minister Mariano Rajoy moved swiftly, replacing both political officials as well as regional police chiefs. The struggle may be tilting towards the Spanish government - the outgoing police chiefs urged replacements to respect the incoming authority, and the only major public demonstration was a pro-Spain march in Barcelona with an estimated 300K people. 

 
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Culture, Entertainment & Sports.

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Business & Markets.

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Politics & World Affairs.

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ETCETERA.
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US cities with the highest concentration of artists (data from US Census).

An Arizona rancher is selling the farm for $5M due to constant alien attacks.

Historybook: Christopher Columbus born (1451); HBD John Adams (1735); Orson Welles pranks the nation (1938); Ali defeats Foreman in ‘Rumble in the Jungle’ (1974); HBD Ivanka Trump (1981).
"DON'T COUNT THE DAYS, MAKE THE DAYS COUNT."
-
Muhammad Ali
 
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