Latest news with #EmpireStateManufacturingSurvey
Mint
13-07-2025
- Business
- Mint
Wall Street week ahead: Focus on inflation, retail sales, big banks & Netflix earnings, trade developments
Wall Street investors will have plenty of economic data and earnings reports to assess in the week ahead. In terms of economic data, market participants will see key inflation numbers, consumer and producer price index reports, retail sales reading, and industrial production. The earnings calendar will be fairly busy next week with some big banks such as JPMorgan, Bank of America, Morgan Stanley, and Citigroup slated to declare their second quarter results. The week will also see earnings reports from other big US companies including healthcare giant Johnson & Johnson, streaming pioneer Netflix, GE Aerospace, and PepsiCo. Among other events, trade developments will continue to garner a chunk of the spotlight as US President Donald Trump targeted the European Union and Mexico with tariffs over the weekend. On July 15 (Tuesday), separate reports on Consumer Price Index for June and Empire State Manufacturing Survey for July will be released. On July 16 (Wednesday), data on Producer Price Index for June, Industrial Production for June, and Fed Beige Book will be released. On July 17 (Thursday), separate reports on US retail sales for June and Home Builder Confidence Index for July will be released. On July 18 (Friday), separate reports on housing starts for June, building permits for June, consumer sentiment (prelim) for July will be released. Following companies are due to report second quarter results in the week ahead — Fastenal, FB Financial, JPMorgan, Wells Fargo, BlackRock, Citigroup, Johnson & Johnson, Bank of America, Morgan Stanley, Goldman Sachs, Taiwan Semiconductor, Netflix, GE Aerospace, Abbott Laboratories, PepsiCo, American Express, 3M, and Charles Schwab. US stock indices retreated from records on Friday as markets digested President Donald Trump's tariff threats while looking ahead to major earnings reports later this month. The S&P 500 lost 21.62 points, or 0.34%, to end at 6,258.84 points, while the Nasdaq Composite lost 48.44 points, or 0.23%, to 20,582.23. The Dow Jones Industrial Average fell 291.06 points, or 0.65%, to 44,359.58. In the bond market, the yield on the 10-year Treasury rose to 4.42%, from 4.34%.
See - Sada Elbalad
15-05-2025
- Business
- See - Sada Elbalad
Gold Trims Losses As Markets Await Fed Chair's Remarks
Waleed Farouk Gold prices in local and global markets trimmed losses during mid-day trading on Thursday, as the Ukraine-Russia talks collapsed, with markets awaiting the Fed Chair's remarks later in the day. Gold prices in local markets fell by about EGP 15 compared to yesterday's close, with the price of 21-karat gold reaching EGP 4,535 per gram, while the price of an ounce rose $21 to $3,202. 24-karat gold reached EGP 5,229 per gram, 18-karat gold reached EGP 3,921 per gram, while 14-karat gold reached EGP 3,050 per gram, and the gold pound reached EGP 36,600 per ounce. Gold prices fell by EGP 90 in local markets during trading on Wednesday. A gram of 21-karat gold opened at EGP 4,640 and closed at EGP 4,550. An ounce fell by $69, opening at $3,250 and closing at $3,181. Gold prices in local and global markets pared their losses as tensions escalated over the ongoing Ukraine-Russia talks in Turkey. Earlier, gold prices fell after statements from US President Donald Trump prompted investors to take further profits and sell more of their gold holdings. In his latest comments on Thursday during his visit to the Middle East, Trump said that talks with Iran regarding a nuclear agreement were possible, according to CNN. Trump added that Syria and Yemen deserved a chance, which he considered a major step toward calming tensions in the Middle East. The Labor Department announced Thursday that initial jobless claims in the United States reached a seasonally adjusted 229,000 for the week ending May 10. This figure was in line with expectations, as the consensus estimate was for a reading of 229,000, and the previous week's figure was revised to 229,000. Meanwhile, the four-week moving average of new jobless claims—often viewed as a more reliable measure of the labor market due to its stability in weekly volatility—reached 230,500, exceeding expectations of 225,000 and exceeding the previous week's revised average of 227,250. Continuing jobless claims, which represent the number of people already receiving benefits, reached 1.881 million for the week ending May 3, below the expected 1.890 million but higher than the previous week's downwardly revised 1.872 million. The U.S. manufacturing sector continues to struggle, even as activity improves in some areas, according to data from the Federal Reserve Bank of New York and the Federal Reserve Bank of Philadelphia. The Philadelphia Regional Central Bank said its May manufacturing outlook rose to -4.0, compared to April's reading of -26.4. The data was much better than expected, as economists had expected a reading of -11.3. Meanwhile, the New York Regional Central Bank said its Empire State Manufacturing Survey fell to -9.2, compared to April's reading of -8.1. The data was weaker than expected, as economists had expected a relatively flat reading. The ongoing contraction in the manufacturing sector is providing some support for gold, as prices continue to trade off their overnight lows. Spot gold last traded at $3,185.50 per ounce, up 0.30% on the day. Markets are awaiting comments from Federal Reserve Chairman Powell later today, as well as additional updates on Trump's trade initiatives. On Wednesday, Federal Reserve Vice Chairman Philip Jefferson stated that the Fed's policy is well-positioned to respond in a timely manner to any sudden decline or rise in inflation. Jefferson added that there is considerable doubt that inflationary pressures are temporary. The prospect of higher interest rates for a longer period casts a shadow over non-interest-bearing assets, such as gold. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War
Yahoo
15-05-2025
- Business
- Yahoo
NY Fed's Empire State manufacturing index loses ground in May
By Michael S. Derby NEW YORK (Reuters) -Business activity continued to soften in the Federal Reserve Bank of New York's district during May, according to its latest Empire State Manufacturing Survey, released Thursday. The general business conditions index stood at -9.2 in May from April's -8.1, the third straight month of declining activity, the report said. The firms remained "pessimistic" about the outlook, the regional Fed bank also said in its report. The report found improvement in new orders and shipping and lost ground on hiring in May, with mixed findings on the inflation front. The regional Fed bank noted that the prices paid index, at 59.0 from April's 50.8%, was the highest in more than two years. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
NY Fed's Empire State manufacturing index loses ground in May
By Michael S. Derby NEW YORK (Reuters) -Business activity continued to soften in the Federal Reserve Bank of New York's district during May, according to its latest Empire State Manufacturing Survey, released Thursday. The general business conditions index stood at -9.2 in May from April's -8.1, the third straight month of declining activity, the report said. The firms remained "pessimistic" about the outlook, the regional Fed bank also said in its report. The report found improvement in new orders and shipping and lost ground on hiring in May, with mixed findings on the inflation front. The regional Fed bank noted that the prices paid index, at 59.0 from April's 50.8%, was the highest in more than two years. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
15-05-2025
- Business
- Reuters
NY Fed's Empire State manufacturing index loses ground in May
NEW YORK, May 15 (Reuters) - Business activity continued to soften in the Federal Reserve Bank of New York's district during May, according to its latest Empire State Manufacturing Survey, released Thursday. The general business conditions index stood at -9.2 in May from April's -8.1, the third straight month of declining activity, the report said. The firms remained "pessimistic" about the outlook, the regional Fed bank also said in its report. The report found improvement in new orders and shipping and lost ground on hiring in May, with mixed findings on the inflation front. The regional Fed bank noted that the prices paid index, at 59.0 from April's 50.8%, was the highest in more than two years.
