July 16, 2024 United States: Stocks Advance After Surprise in US Retail Sales: Markets Wrap Stocks hit all-time highs after solid retail sales suggested the economy’s main driver is still holding up as inflation recedes and the Federal Reserve nears a start to rate cuts. All major equity benchmarks rose, with the S&P 500 heading
July 15, 2024 United States: New York Manufacturing Contracts for an Eighth Straight Month New York state factory activity contracted for an eighth straight month in July while a measure of prices received by producers declined to a one-year low. The Federal Reserve Bank of New York’s July general business conditions index eased less than
July 12, 2024 United States: US Producer Prices Rise Slightly More Than Forecast on Margins US producer prices climbed in June by slightly more than forecast on a pickup in margins at service providers, offsetting a second month of declines in the cost of goods. The producer price index for final demand rose 0.2% from
July 11, 2024 United States: US Inflation Broadly Cools, Bolstering Case for Fed Rate Cut US inflation cooled broadly in June, driven by a long-awaited slowdown in housing costs and providing another dose of confidence for Federal Reserve officials that they can cut interest rates soon. The so-called core consumer price index — which excludes
July 10, 2024 United States: Stocks Hold Tight as Powell Back to Capitol Hill: Markets Wrap Stocks hovered near all-time highs, with traders hoping to get more clues on the Federal Reserve’s outlook as Jerome Powell concludes two days of Congressional hearings. Equities rose for a seventh straight day, driving the S&P 500 toward its
July 9, 2024 In April 2024, total market production climbed by 0.7% in the EU and 0.3% in the euro area compared to the previous month. The total market production index (TMPI) is a composite indicator that includes four short-term business statistics indicators representing the majority of the market economy, namely production in industry, construction,
July 9, 2024 United States: Powell Says More Good Inflation Data Would Boost Fed Confidence Federal Reserve Chair Jerome Powell said “more good data” would strengthen confidence that inflation is moving down toward the US central bank’s 2% target, and recent readings point to “modest further progress” on prices. In testimony prepared for a Senate
July 8, 2024 United States: Strategists Say Stock Rally Needs a Bumper US Earnings Season Corporate America needs to deliver a blowout quarterly earnings season for US stocks to extend a record-breaking rally, according to some Wall Street strategists. Analysts’ upgrades to profit estimates have outnumbered downgrades going into the second-quarter reporting period, according to
July 5, 2024 United States: US Payroll Growth Slows and Jobless Rate Ticks Up to 4.1% US hiring and wage growth stepped down in June while the jobless rate rose to the highest since late 2021, bolstering prospects that the Federal Reserve will begin cutting interest rates in coming months. Nonfarm payrolls rose by 206,000
July 4, 2024 United States: US-Led Debt Increase Across G-7 Stokes S&P and Scope Concerns Relentlessly rising debt in the US and rich-world peers was highlighted by two credit-assessment companies, with S&P Global Ratings warning that only acute market pressure can alter the trajectory. The analyses of Group of Seven and equivalent economies intensifies the
