>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning after stocks closed slightly higher on Wall Street Tuesday. Uncertainty over tariffs and inflation worries did put a damper on investor sentiment. At the closing bell, the Dow Jones Industrial Average rose four points to 42-587. The S&P 500 added nine points to 57-76. The Nasdaq gained 83 points to 18-271.
>>Trump EO Would Halt Use Of Paper Checks By Federal Government
(Washington, DC) -- A new executive order from President Trump would stop the federal government from using paper checks. The order signed Tuesday would block the Treasury Department from issuing checks for benefits, tax refunds, vendor payments and intra-governmental payments effective September 30th. At that time, the federal government would be required to switch to electronic transfer methods such as direct deposit and prepaid card accounts. The order states, "The continued use of paper-based payments by the federal government" imposes "unnecessary costs, delays, risks of fraud, lost payments, theft, and inefficiencies."
>>Consumer Confidence Drops Sharply Again In March
(New York, NY) -- Consumer confidence fell for the fourth straight month in March. The Conference Board's Consumer Confidence Index slid more than seven points largely due to inflation worries and uncertainty over tariffs. The Expectations Index -- which measures the short-term outlook for income, business and the labor market -- dropped to its lowest level in 12 years. March's fall in confidence was broad-based across all income groups with older Americans becoming especially gloomy about the economy.
>>IRS Could Face $500B In Lost Revenue
(Washington, DC) -- Treasury Department and IRS officials are predicting a ten-percent drop in tax receipts by next year, equaling about 500-billion in lost revenue. An analysis by the Washington Post says it's a result of people not filing taxes and more than eleven-thousand IRS employees let go under the Trump administration. There are also plans to fire another 20-thousand agency employees. A treasury spokesperson called the projections "sensational and baseless."
>>No Major Economic Reports Today
(Undated) -- Things are quiet today as far as the world of noteworthy business reports goes. On Thursday, the second GDP revision is due to be released along with weekly jobless claims and pending home sales numbers. Things wrap up Friday with a key measure of inflation - the Personal Consumption Expenditures price index - and the latest reading on consumer sentiment.
>>Report: NBA Salary Cap Increases By 10%
(Undated) -- The NBA continues to grow. ESPN reported on Tuesday that the league plans to increase the salary cap by 10-percent next season, which is the maximum amount allowed. The new cap is expected to exceed 154-million dollars with the luxury tax topping out near 188-million. Potential free agents following this season include the Lakers' LeBron James, Mavericks' Kyrie Irving and Clippers' James Harden.
