Dow Surges 303 Points to 21,115 for 1st Time
By CHRISTOPHER WHITTALL and AARON KURILOFF
Wall Street Journal
Wednesday March 1, 2017
Milestone comes after Trump strikes an optimistic tone in his speech and as Fed officials hint at higher interest rates. Investors embraced optimism from President Donald Trump and Federal Reserve officials.
Stocks have soared since November, with the blue-chip index surpassing 19000, 20000—and now 21000—since Election Day.
Enthusiasm for Mr. Trump’s plans to cut taxes, loosen regulations and ramp up fiscal spending have bolstered shares alongside signs of improvement in the U.S. economy.
The Dow rose over 300 points, or 1.5%, to 21114 on Wednesday and tied its fastest thousand-point jump in history: It took 24 sessions from the first close above 10000 for the index to climb to 11000 in 1999.
The last time it posted a gain of more than 300 points was the day before Mr. Trump’s surprise win.
“The market woke up this morning believing in Trump’s ability to enact a pro-business agenda,” said Tom Wright, director of equities at JMP Securities.
Investors ditched U.S. government bonds and bought the dollar. The WSJ Dollar Index, which tracks the U.S. currency against 16 others, was recently up 0.3%.
The yield on the benchmark 10-year Treasury note rose to 2.458%, according to Tradeweb, from 2.358% Tuesday. As bond yields rose, bank stocks surged. Bank of America rose 3.5%, and J.P. Morgan Chase & Co. added 3.2%.
The personal-consumption-expenditures price index, the Fed’s preferred inflation gauge, rose in January, the Commerce Department said Wednesday.
“I’m usually pretty bullish. . .” said Tom Digenan, head of U.S. equities at UBS Global Asset Management.
Coal Mining Revival Underway in Virginia
By Johnny Giles - Fox News
Wednesday March 1, 2017
Wise County, Virginia – A long-awaited revival is under way in this beleaguered Central Appalachia community where residents see coal as the once and future king. Trucks are running again. Miners working seven days a week cannot keep up with current demand.
Coal mines, long dormant after the industry’s collapse, are now buzzing again with antlike activity. “We load coal every day for the power plant in Virginia City,” explained Rick, a long-time supervisor. “There's one shipment a week for Georgia Power, and one for Tennessee Eastman.”
The past month has seen a resurgence of the coal industry that once formed the backbone of the region's economy, and locals credit President Trump's aggressive, pro-energy agenda.
Crippled by a slew of factors, from changing times, an emphasis on renewable energy, and the Obama administration's harsh penalties on coal-fired power plants, the area's economy took a devastating hit over the past eight years. Many of the people living in these mountains had nearly given up hope that the area could ever recover.
The smaller communities in this county in southwest Virginia, such as the towns of Appalachia, Pound and St. Paul, were the hardest hit, but the ripple effects were felt far and wide.
Prospects changed nearly overnight. President Trump had promised to do everything he could to lift the coal mining industry.
The turnaround owes to more than just Trump. China cut its own production, which helps lift the met industry in the United States. But, many in this area say, Trump’s moves to lift regulations are stoking a rally they have not seen in years.
Ramasco Resources began producing its first coal mine in December and said it would open two more this year. In Pennsylvania, Corsa Coal also announced this month that it would begin mining operations beginning in May, according to Bloomberg. “There’s definitely cautious optimism after years of being brutally beaten down,” Jeremy Sussman, an analyst at Clarksons Platou Securities Inc., told Bloomberg.
The production of coal reached its peak in 2008. But then President Obama came into office and rolled out a series of regulations that crippled the industry and left many in the region out of well-paying jobs. “It was almost impossible due to the EPA regulations to open another deep mine,” said Rick.
”It’s too early to tell whether or not coal will be king again. But with the stranglehold of regulations now on its way out, many in the area say they hope to see a full comeback. “I don't think production is going to go down anytime soon,” said Jason, an underground miner from Big Stone Gap. “At one of the mines in the town of Appalachia, [employees] were told they would have work for the next four years.”
Pool Industry Trends - Single Speed Pumps Forbidden
Latrobe, PA March 3, 2017
A review of the building codes as well as industry association publications shows that single speed pumps are out of favor both for energy savings reasons as well as environmental concerns from both government and electric utilities.
Some counties & states in the USA have adopted building code rules that mandate the use of either 2 speed or variable speed pool pumps to save electricity and reduce peak electric power Kilowatt demand on the utility company.
Here are some of the current residential code rules for pool pumps used to filter pool water:
Florida, California, Arizona and Nevada:
- NO split-phase, capacitor
start / induction run or shaded-pole motors.
- All Pool Pumps 1 HP and larger MUST BE AT LEAST 2 SPEEDS
- Pump controls must be capable
of operating a minimum of 2 speeds
- Default pool filtration flow rate MUST BE less than 4 turnovers per day (at least 6 hours per turnover)
- Any high speed override must revert to default
pool filtration speed in less than 24 hours.
BETTER DAYS ARE ON THE WAY
