Category: Latest News
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US wholesale inventories down by 0.3% in January
Wholesale inventories in the United States decreased by 0.3% in January compared to the previous month and amounted to $895.1 billion, according to a report by the US Census Bureau on Wednesday. The figure was revised from the advanced decline of 0.1% published at the end of February. Inventories were down 2.5% compared to January 2023. Meanwhile,…
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US job openings at 8.9 million in January
Job openings in the United States stood at 8.9 million in January, little changed from the previous month, the US Bureau of Labor Statistics reported on Wednesday. The job opening rate was unchanged at 5.3%. The Job Openings and Labor Turnover Survey (JOLTS) showed that the number and rate of hires were little changed at…
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US mortgage applications up 9.7%
Mortgage applications in the United States increased by 9.7% in the week ending March 1, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey published on Wednesday. According to the report, the average contract interest rate for 30-year fixed-rate mortgages continued to decline, falling to 7.02% from last week’s 7.04%. Meanwhile, the Refinance…
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Powell Expects Fed Rate Cuts, Warns Inflation Progress Uncertain
Federal Reserve Chair Jerome Powell said on Wednesday that the ongoing progress of inflation is “not guaranteed,” although the central bank still expects to lower its benchmark interest rate this year. “If the economy evolves as expected, it will likely be appropriate to begin easing monetary policy at some point this year,” Powell stated in…
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Private Sector Employment Up By Less Tan Expected; Job Openings Report Due
A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by slightly less than expected in the month of February. ADP said private sector employment rose by 140,000 jobs in February after climbing by an upwardly revised 111,000 jobs in January. Economists had expected private sector employment to…
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U.S. Stocks May Move Back To The Upside In Early Trading
The major U.S. index futures are currently pointing to a higher open on Wednesday, with stocks likely to move back to the upside after moving notably lower over the two previous sessions. The futures remained positive as the Federal Reserve released Fed Chair Jerome Powell’s prepared remarks before the House Financial Services Committee. Powell will…
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Recent Analyst Upgrades and Downgrades: A Glimpse into Market Sentiments
In a series of recent analyst revisions, several major corporations have seen significant changes in their stock recommendations and price targets, reflecting shifting market sentiments and expectations for future performance. Here’s an overview of some notable adjustments: Crowdstrike Holdings, Inc. Morningstar has revised its stance on Crowdstrike Holdings, Inc., upgrading the cybersecurity firm from ‘sell’…
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U.S. Stock Futures Gain Ahead of Economic Insights; Oil Prices Climb
U.S. index futures signal a higher opening after two days of declines, with the market focusing on the ADP survey and the Fed’s Beige Book, seeking clues about the future economy and monetary policy. At 05:31 AM, Dow Jones futures (DOWI:DJI) rose 92 points, or 0.24%. S&P 500 futures advanced 0.39%, and Nasdaq-100 futures increased…
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Airship AI skyrockets with DOJ contract; Carrier Global sells Fire Industrial division for $1.43 billion, and Latest News
Airship AI Holdings (NASDAQ:AISP) – While the tech sector fell on Tuesday’s trading session, shares of Airship AI stood out, soaring 200% after securing a contract with the U.S. Department of Justice. Based in Redmond, Washington, the company uses AI to assist clients in law enforcement and defense. President Paul Allen stated that the company…
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Strong Performances in the Fourth Quarter Drive Couchbase and CrowdStrike in Pre-Market
CrowdStrike (NASDAQ:CRWD) – The cybersecurity company’s stock price jumped more than 24% after the fourth quarter financial results were announced, surpassing forecasts. CrowdStrike‘s earnings per share of 95 cents exceeded analysts’ estimates, who expected 82 cents, according to LSEG. The company’s revenue reached $845 million, surpassing the projected $839 million. Furthermore, the company released forecasts…