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Browse our complete collection of financial news and analysis
Browse our complete collection of financial news and analysis
Browse our complete collection of financial news and analysis
Weekly jobless claims edged lower, Philly Fed manufacturing showed contracting activity even as prices remained elevated, painting a mixed picture of an economy under mounting pressure.
Gold prices face-planted as surging bond yields, a stronger US Dollar, and persistent inflation from the US-Iran conflict aggressively reasserted macro pressure.
The yen futures edged higher on the data, although the Japanese unit fell against the dollar in the cash market amid the broader dollar strength; But an economist braced for weaker growth ahead due to war impact.
While retail control group, considered an underlying measure of consumer spending, remained robust and the four-week average jobless claims edged lower
S&P 500 and Dow futures point higher in early trade; oil volatile on Hormuz risk while gold eases and the dollar flat ahead of the 8:30 a.m. retail sales print.
Condos led the monthly gain while single-family sales held flat; the South and Midwest drove regional growth; Tight inventory, firm prices, and stable demand suggest the housing market remains resilient.
Services led April payroll gains while pay growth held steady, signaling a resilient but cooling labor market.
U.S. services activity expanded in April but missed forecasts, while job openings held steady in March and hiring rose, signaling a cooling yet resilient labor market amid geopolitical uncertainty.
The U.S. trade deficit widened to $60.3 billion in March as imports outpaced record exports even as the world is navigating through an ongoing geopolitical crisis.
Traders weigh fresh Strait of Hormuz developments and US-Iran diplomatic signals ahead of the New York open.
The central bank clarified that “the implications of the war for medium-term inflation and economic activity will depend on the intensity and duration of the energy price shock and the scale of its indirect and second-round effects.”
Strong computer and electronics orders helped boost durable goods orders in March, helping to snap a three-month declining streak.