Category: Latest News

Crude oil futures prices were trading higher on Wednesday as traders eyed the arrival of Hurricane Idalia on the Florida coast, falling US inventories and the release of the ADP job creation report. “According to the International Energy Agency (IEA), the Gulf of Mexico accounts for about 15% of US oil production and about 5%…

US wholesale inventories fell 0.1% month-on-month in July 2023, after an upwardly revised 0.7% decline in the previous month, preliminary estimates showed. Inventories declined for durable goods (-0.3%, same pace as June), while they recovered slightly for non-durable goods (0.2% vs -1.2%). On an annual basis, wholesale inventories increased by 0.5% in July. July wholesale…

The US economy grew an annualized 2.1% in the second quarter, revised from the preliminary 2.4% figure and down from the 2.0% expansion in the first quarter, the second estimate showed. There were downward revisions to private inventory investment and non-residential fixed investment, which were partially offset by an upward revision to state and local…

US Market The major U.S. index futures are currently pointing to a modestly higher open on Wednesday, with stocks poised to extend the upward move seen over the three previous sessions. The futures moved higher following the release of a report from payroll processor ADP showing a notable slowdown in the pace of private sector…

The US private sector created 177,000 jobs in August, excluding the rural sector, according to a report published by Automatic Data Processing (ADP) and Macroeconomic Advisers. Analysts expected the creation of 200,000 jobs. The number of vacancies created in July was revised upwards, from 324 thousand to 371 thousand. The data indicate that small companies,…