A report released by the Federal Reserve Bank of New York on Tuesday showed a turnaround by regional manufacturing activity in the month of February.
The New York Fed said its general business conditions index jumped to a positive 5.7 in February from a negative 12.6 in January, with a positive reading indicating growth. Economists had expected the index to climb to a negative 1.0.
Meanwhile, the report said optimism about the outlook for conditions over the next six months dropped significantly, with the index for future business activity slumping to 22.2 in February from 36.7 in January.
At 10 am ET, the National Association of Home Builders is scheduled to release its report on homebuilder confidence in the month of February. The housing market index is expected to come in unchanged after inching up to 47 in January.
San Francisco Federal Reserve President Mary Daly is due to speak and participate in a moderated discussion before the 2025 Conference for Community Bankers hosted by the American Bankers Association at 10:20 am ET.
At 1 pm ET, Federal Reserve Vice Chair for Supervision Michael Barr is scheduled to speak on “Artificial Intelligence in the Economy and Financial Stability” before the Council on Foreign Relations.