Category: Macro
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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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Gold Reaches New Record High Amid Fed Speculations and Global Risks
On Tuesday, gold hit a new milestone by reaching a historic high, driven by a combination of fund purchases and speculation about future changes in the Federal Reserve’s monetary policy, along with geopolitical and financial concerns that have bolstered the precious metal’s rally. Gold prices saw an increase of up to 1.3%, reaching $2,141.79 an…
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US factory orders down by 3.6% in January
New orders for manufactured goods in the United States observed a monthly decrease of 3.6% or $21.5 billion to come in at $569.7 billion in January, the Census Bureau said in its report published on Tuesday. Shipments decreased $5.7 billion or 1% to stand at $572.3 billion. Unfilled orders increased by $2.1 billion or 0.2%…
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U.S. Composite PMI Indicates Sustained Expansion in Business Activity for February
In a positive sign for the U.S. economy, the Composite PMI Output Index, which encompasses both services and manufacturing sectors, reflected continued expansion in business activity for the month of February. According to the latest report by S&P Global, the index marked a rise to 52.5, up from January’s figure of 52.0, showcasing a thirteenth…
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U.S. Services Industry Growth Moderates in February, ISM Report Shows
The U.S. services sector, a critical component of the nation’s economy, experienced a slowdown in growth during February, as reported by the Institute for Supply Management (ISM). According to the latest ISM Services Purchasing Managers’ Index (PMI), the growth pace decelerated, with the index registering at 52.6 percent. This figure represents a decline of 1.8…
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News Highlights: Top Global Markets News of the Day
Nvidia’s Surge Stokes Talk of a Bubble The chip maker’s meteoric advance has helped push the stock market to record highs. It also has some on Wall Street saying the “B word.” Nikkei Stock Average Rises Above 40000 for First Time The climb was driven by greater corporate earnings and a surge in chip-related stocks,…
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U.S. Jobless Claims Tick Upward, Exceeding Expectations
In the latest labor market update, initial jobless claims in the United States for the week ending February 24 saw an increase, climbing by 13,000 to reach 215,000. This rise surpassed both the previous week’s figure of 202,000 (which was revised from an initial 201,000) and the consensus estimate of 209,000, signaling a slight acceleration…
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January Sees Modest Inflation Rise, Keeping Fed Rate Cut in Play
In January, U.S. prices experienced a modest uptick, according to the latest data from the Commerce Department’s Bureau of Economic Analysis. The personal consumption expenditures (PCE) price index, a key inflation measure closely watched by the Federal Reserve, increased by 0.3% for the month. This revision comes after December’s figures were adjusted down to a…