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Posts Tagged ‘U.S. economy’

New claims for unemployment rise by 1.54 million for week ended June 6

Initial claims for state unemployment benefits continued to trend lower with 1.54 million workers applying in the week ended June 6. That's down from 1.9 million initial claims in the prior week. (Economists surveyed by Bloomberg had projected 1.55 million initial claims for the week.) But while the trend is pointing in the right direction, […]

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Stocks give back morning rally as Trump administration seems far from an actual coronavirus stimulus plan

Stocks broke higher this morning on President Donald Trump promise to announce "something dramatic" at a press conference today to combat the slowdown in the economy caused by the coronavirus outbreak. The Standard & Poor's 500 was up 3.33% to 2844.16 at 10:12 a.m. in New York. But as the day has worn on, news […]

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Trump’s talk of doing something “dramatic” rallies overnight futures

President Donald Trump, speaking at a White House news conference today, Monday, March 9,, said that he plans to announce “very dramatic” actions to support the economy at a press conference on Tuesday following discussions with lawmakers. The actions seem likely to include a cut to the Social Security payroll tax. U.S. stock futures rose, […]

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Wall Street salivating over tomorrow’s official jobs report after strong ADP numbers

The ADP Research Institute report on private payrolls, released yesterday, showed a gain of 291,000 jobs in January. That blew away economist forecasts for 157,000 net new jobs in the month, according to Bloomberg's survey of economists. The January gain would be the largest since May 2015. And this strong report comes just before the […]

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Should you follow Wall Street’s advice de l’annee for 2020 into emerging market stocks?

If 2019 was (and it sure was) the year for putting money into U.S. stocks, will 2020 be the year for putting money to work outside the U.S. and especially in emerging market stocks? The answer from a large--and it seems increasing--number of Wall Street strategists is "Yes." Should you follow this year's advice? Let […]

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China economy headed to “stable,” U.S. forecast to relative slip

China's economy grew by 6.1% in 2019. That's down from 6.6% in 2018. But the 2019 figure meets the government's target, and December industrial output rose 6.9% year over year, ahead of the 5.9% forecast by economists. Retail sales climbed by 8% against a forecast of 7.9%. (One caveat: The Lunar New Year arrives earlier […]

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U.S. economy adds 145,000 jobs in December, misses economist forecasts

The U.S. economy added 145,000 jobs in December That did set a record of 10 years of job growth for the economy. But the 145,000 job growth in December was below the 256,000 added in November and below the 160,000 expected by economists surveyed by Bloomberg. (I would note that the November numbers were inflated […]

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U.S. service economy keeps roaring ahead in latest ISM survey

The U.S. manufacturing sector may be in deep and continued contraction, but according to the Institute for Supply Management's Purchasing Managers Non-manufacturing Index, the U.S. service sector--the bulk of the U.S. economy--hit a four-month high in December. The non-manufacturing index climbed to 55 in the month, from 53.9 in November. That 55 reading exceeded the […]

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U.S. manufacturing sector contracts for fifth straight month

Economists who had stayed too long at the egg nog and were predicting a rebound in U.S. manufacturing in December got coal in their stockings today (I promise to stop the Christmas references this week) when the Institute for Supply Management’s Purchasing Managers Index (PMI) fell to 47.2 for December from 48.1 in November. That drop […]

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A lot of data for a short holiday week

Trading volumes will be low and investors attentions will be focused elsewhere than the financial markets, but this is a week with a surprising amount of market news. Tomorrow, Tuesday December 31, China announces the official Purchasing Managers Index for manufacturing. The version of the PMI from Caixin, which includes more reports from smaller, private […]

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