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U.S. factories show signs of trouble; labor market still firm

17 hours ago DieselGasoil Comments Off on U.S. factories show signs of trouble; labor market still firm
WASHINGTON (Reuters) – Activity is contracting in the U.S. manufacturing sector but the number of Americans filing applications for unemployment benefits fell last week, signs that factories are suffering from a global slowdown even as the broader labor market remains healthy. FILE PHOTO: Line workers spot weld parts of the frame on the flex line Read More

S&P 500 stalls as U.S. employment, manufacturing data offset

19 hours ago DieselGasoil Comments Off on S&P 500 stalls as U.S. employment, manufacturing data offset
NEW YORK (Reuters) – The benchmark S&P 500 struggled for direction on Thursday as strong results from Nordstrom Inc (JWN.N) and a fall in U.S. jobless claims offset data showing a contraction in U.S. manufacturing activity. Stocks initially rose at the market open as shares of Nordstrom jumped after the department store’s quarterly profit beat Read More

Two Fed officials see no case for rate cut at this time

22 hours ago DieselGasoil Comments Off on Two Fed officials see no case for rate cut at this time
JACKSON HOLE, Wyo. (Reuters) – Two Federal Reserve officials on Thursday said they see no need for an interest rate cut widely expected next month by markets, highlighting policymakers’ divisions over how to respond to signs of a global economic slowdown. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., Read More

U.S. weekly jobless claims fall more than expected

1 day ago DieselGasoil Comments Off on U.S. weekly jobless claims fall more than expected
WASHINGTON (Reuters) – The number of Americans filing applications for unemployment benefits fell sharply last week, suggesting the labor market was holding firm despite a manufacturing slowdown and concerns the economy is on a path toward recession. FILE PHOTO: Job seekers wait to talk to recruiters at the Colorado Hospital Association job fair in Denver, Read More

U.S. home sales jump, boosted by lower mortgage rates

2 days ago DieselGasoil Comments Off on U.S. home sales jump, boosted by lower mortgage rates
WASHINGTON (Reuters) – U.S. home sales rose more than expected in July, boosted by lower mortgage rates and a strong labor market, signs the Federal Reserve’s shift toward lower interest rates was supporting the economy. FILE PHOTO: A home is seen in the Penn Estates development where most of the homeowners are underwater on their Read More

Trump looking at possible tax cuts amid economic jitters

3 days ago DieselGasoil Comments Off on Trump looking at possible tax cuts amid economic jitters
WASHINGTON (Reuters) – President Donald Trump said on Tuesday his administration was considering potential tax cuts on wages as well as profits from asset sales, and sought to play down market anxieties that the world’s top economy could be heading for a recession. Speaking to reporters during a White House visit by Romanian President Klaus Read More

Fed’s Rosengren says cutting rates could worsen next downturn: Bloomberg

4 days ago DieselGasoil Comments Off on Fed’s Rosengren says cutting rates could worsen next downturn: Bloomberg
FILE PHOTO: The Federal Reserve Bank of Boston’s President and CEO Eric S. Rosengren speaks during the “Hyman P. Minsky Conference on the State of the U.S. and World Economies,” in New York, April 17, 2013. REUTERS/Keith Bedford/File Photo (Reuters) – Boston Federal Reserve Bank President Eric Rosengren on Monday signaled no willingness to support Read More

Lower rates could boost housing stocks, but risks remain

7 days ago DieselGasoil Comments Off on Lower rates could boost housing stocks, but risks remain
NEW YORK (Reuters) – Lower U.S. interest rates could help support outperforming U.S. homebuilder stocks, even as they raise worries about the economy, while a bonanza of industry data and Federal Reserve speakers next week are likely to help shape the outlook. After underperforming in 2018, the PHLX Housing Index .HGX is up about 30% Read More

Wall Street Week Ahead: Lower rates could boost housing stocks, but risks remain

7 days ago DieselGasoil Comments Off on Wall Street Week Ahead: Lower rates could boost housing stocks, but risks remain
NEW YORK (Reuters) – Lower U.S. interest rates could help support outperforming U.S. homebuilder stocks, even as they raise worries about the economy, while a bonanza of industry data and Federal Reserve speakers next week are likely to help shape the outlook. FILE PHOTO: Traders work on the floor at the New York Stock Exchange Read More