Author: Bruno T
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Fed’s Daly sees no urgency to adjust funds rate
United States Federal Reserve Bank of San Francisco President Mary Daly underlined on Tuesday that there is “no urgency” to modify the Fed funds rate, stressing the “real risk” of implementing rate cuts prematurely. The Fed official noted that the US economy is “improving” and added that while three rate cuts could be considered “reasonable”…
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Mester rules out rate cuts at Fed’s May meeting
Federal Reserve Bank of Cleveland President Loretta Mester said on Tuesday that she still expects interest rate cuts this year “if the economy evolves as expected.” However, she ruled out the possibility of any rate cuts during the upcoming policy meeting in May. “I continue to think that the most likely scenario is that inflation…
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US job openings at 8.8 million in February
Job openings in the United States stood at 8.8 million in February, little changed from the previous month, the US Bureau of Labor Statistics reported Tuesday. The job opening rate remained unchanged for the third month in a row at 5.3%. The Job Openings and Labor Turnover Survey (JOLTS) showed that the number and rate…
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US factory orders up 1.4% in February
New orders for manufactured goods in the United States stood at $576.8 billion in February, representing an increase of 1.4% month on month, the US Census Bureau revealed in its report on Tuesday. Shipments were also up 1.4% compared to January and reached $581.6 billion, while unfilled orders remained virtually unchanged at $1.3 trillion. Inventories…
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ISM: US manufacturing activity expands in March
The manufacturing activity in the United States in March recorded an increase from its previous reading in February, the Institute for Supply Management (ISM) stated in a report on Monday. The manufacturing PMI was registered at 50.3% in March, coming in above market expectations. The figure marked a rise of 2.5 percentage points when compared…
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US construction spending down 0.3% in February
Construction spending in the United States in February was estimated at a seasonally adjusted annual rate of $2,091.5 billion, marking a 0.3% decrease compared to the previous month’s revised rate, the US Census Bureau reported on Monday. On an annual basis, construction spending grew by 10.7% from the same month of 2023. Private construction spending…
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US manufacturing PMI falls slightly in March
The manufacturing activity in the United States continued to expand in March, although at a slower pace, the S&P Global revealed in its report on Monday. The Manufacturing Purchasing Managers’ Index for the reported month came in at 51.9, above the neutral 50 mark, but below February’s digit of 52.2. The expansion rate of manufacturing…
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Pre-Market U.S. Stock Movers – April 1st
Wall Street’s major stock exchanges opened Monday’s session trading mostly flat, as investors returned after the Good Friday break when the United States personal consumption expenditures data showed an increase of 0.8% in February. As the second quarter of the year is starting, and a little later after the opening bell, market participants are waiting…
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US consumer confidence rises in March
The Consumer Sentiment Index in the United States rose 3.3% in March month on month to stand at 79.4, the University of Michigan revealed in its final report on Thursday. The figure jumped 28.1% on an annual level. The Current Economic Conditions Index gained 3.9% compared to the month prior and 24.4% from March 2022,…
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US pending home sales up 1.6% in February
Pending home sales in the United States increased by 1.6% in February compared to the previous month, the National Association of Realtors (NAR) said on Thursday. The Pending Home Sales Index (PHSI) rose to 75.6, marking a 7.0% decrease from the previous year. The Northeast PHSI decreased 0.3% from last month to 63.4, and the…