Latest news with #joblessclaims
Bloomberg
5 days ago
- Business
- Bloomberg
Uber, Lucid Make Robotaxi Deal, Pepsi Shows Growth
On Bloomberg Businessweek Daily, Tim Stenovec and Norah Mulinda discuss US retail sales surging as jobless claims decline for fifth straight week. Wedbush Securities' Alicia Reese forecasts Netflix's upcoming earnings. Bloomberg Intelligence's Global Head of Tech Research Mandeep Singh digs deep on Lucid's shares soaring following plans for a joint robotaxi venture with Uber. Also on the show, Bloomberg's Michael McKee sits down with former Fed Vice Chair Randy Quarles to discuss the state of the Federal Reserve. (Source: Bloomberg)
Yahoo
5 days ago
- Business
- Yahoo
Good News for GE, Jobless Claims, Retail Sales & More
Thursday, July 17, 2025The biggest day of the week for economic reports and Q2 earnings is upon us. In fact, there is so much data in front of us, we should be able to fill this column with just the numbers. Pre-market futures were mixed but are now positive across the board: +30 points on the Dow, +10 on the S&P 500 and +70 points on the Nasdaq. Bond yields continue to creep up: +4.49% on the 10-year, +3.94% on the 2-year and +5.04% on the 30-year yield. A Cavalcade of Economic Results: Jobless Claims Healthy Starting as we do most Thursday mornings, Initial Jobless Claims are out: down for the fifth week in a row from near-term highs, 221K new jobless claims are the lowest we've seen since mid-April, far below the 234K estimate and well off the June high of 250K. What looked on the graph to be a steady incline of new jobless claims through the first half of the year has now shifted downward in a big way. This is very strong news for the labor Claims, on the other hand, ticked up slightly once again: 1.956 million, from 1.954 million the prior week (these numbers are reported a week in arrears from Initial Claims), remaining just shy of the psychological 2 million mark, where we haven't been since late 2021. This is the eighth straight week above 1.9 million longer-term jobless claims, and the 9th of the last 12. Yet with new claims pitching downward as they are, perhaps we'll postpone this reunion with 2 million claims for a longer time. Retail Sales Robust for June Advanced Retail Sales for June ('advanced,' meaning subject to revision in a couple weeks) tripled expectations this morning to +0.6%, turning around in a startling manner from -0.9% reported for May. This is the second-highest Retail Sales print of 2025 since March posted +1.5%; in fact, these are the only two positive months of the year so the headline, everything came in ahead of expectations, as well: ex-Autos reached +0.5%, ex-Autos & Gasoline +0.6%, and the Control number — which gets fed up the food chain of economic data such as Personal Consumption Expenditures (PCE), the (current) Fed's preferred metric on inflation — is +0.5%. This equals March's +0.5% Control number, as well. Import & Export Prices Moderate More good news: Import Prices came in lower than expected: +0.1%, but up from a big downward revision of -0.4% of the previous month. Ex-petrol (fuel), this number moderates further, to 0.0%. Year-over-year Import Prices have now swung to a negative -0.2% from an anticipated +0.3%. More easing on imported goods — counter to Prices month over month came in at +0.5%, the highest level since pre-tariff pull-forwards in February, whereas year over year we're at the highest level since January: +2.8%. Any time we can see import prices moderate but exports improve, that's got to be a good (near-term) sign for the domestic economy. Philly Fed Blossoms to Start the Summer Another metric posting its first positive month since March, the Philly Fed manufacturing survey, sprung ahead to 15.9 in June, up strongly from the -4 posted for May. In fact, this is the highest print since February's 18.0, and provides a positive narrative for regional manufacturing in the region of the sixth-largest city in the U.S. GE Outpaces Estimates in Q2 Earnings GE Aerospace GE, a Zacks Rank #2 (Buy)-rated stock going into this morning's earnings report, soundly beat Q2 estimates on both top and bottom lines this morning: earnings of $1.66 per share was well ahead of the projected $1.43 and the $1.20 per share reported in the year-ago quarter, for a positive surprise of +16%. Revenues of $10.15 billion beat estimates by +5.12%. Shares are up +1.3% at this hour, now a whopping +60% year to date. For more on GE's earnings, click or comments about this article and/or author? Click here>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GE Aerospace (GE) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
Retail sales jump in June: Consumer is 'powering through'
Retail sales rose 0.6% in June, far above expectations, while jobless claims fell for a fifth straight week to 221,000. Wolfe Research chief economist Stephanie Roth joins Market Catalysts to discuss what the strong control group reading means for the consumer and how tariffs and inflation complicate the Federal Reserve's path forward. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here. got this morning. Retail sales coming in above expectations, rising six tenths of a percent in June. Economists were looking for only a tenth of a percent growth. Initial jobless claims falling for the fifth consecutive week, 221,000 claims was the reading. And back with me on this is Stephanie Maroth, Wolf Research Chief Economist. So we talked a little bit about retail sales earlier, Stephanie, but I did want to dig a little bit further into this because it's an interesting moment right now, because we keep hearing the tariff increases are coming, there's still a little bit of trepidation about economic growth, and then you see a number like that. So how how should we be, like, what does that number really mean? Yeah, I mean, I would I would curb your enthusiasm a little bit about the print. Uh, the headline numbers are influenced by some of the more volatile categories. I would focus on the control group, which came in at a solid 0.5% month on month, but it did have some historical backward revisions. So, I think the message from the consumer right now is they're fine. The consumer is doing okay in light of everything going on. So there's no major sentiment hit as a result of the tariffs. But there are some categories that were, either it's an air pocket, or there's concerns around higher prices. Things like furniture where have been soft and are are still remaining fairly soft. The muted rebound in in autos was a little bit disappointing. But generally speaking, the the bulk of the categories were were just fine. So I I would say the consumer is powering through this. They're they're doing okay. They might start to be a little bit softer just because prices are starting to rise. And we saw that earlier this week with inflation data. And it's a little bit more difficult for the Fed to be cutting in September. Right, interesting. What and why is just spell that out for us. Why it's more difficult for them? Sure. So the Fed is going to be focused on the two sides of their mandate, inflation and employment. So they're going to be looking at the inflation data, which we're now starting to see the tariffs are working their way into the data. And June was probably the first month that we're really likely to see the print the the the the impact of the the tariffs on the data. July and August it should be notably more significant. On top of that, air air travel might be a little bit stronger in the next couple of months because it's been quite weak for quite some time. And then on top of that, the employment side of the mandate is going to be important, too. And that's going to be presumably the the the the key factor here because many were thinking that the unemployment rate was going to be rising throughout the course of the summer. In the most recent print, it actually fell. And I think some of the dynamics here are, sure, sure, you know, the the labor market is is fine. But also, immigration is putting a a sort of a reduction in the labor supply. So now we have fewer workers, and that that sort of puts some downward pressure on the unemployment rate. Related Videos Why tax changes are a 'huge deal' for small homebuilders United CEO is 'adjusting to the new realities' of the industry Novartis CEO on pharma tariffs, raised outlook, competition PepsiCo, Citizens Financial, US Bancorp: Earnings movers Sign in to access your portfolio
Argaam
5 days ago
- Business
- Argaam
US jobless claims fall to 3-month low
US initial jobless claims fell for the fifth consecutive week, reaching the lowest level since mid-April, reflecting continued strength in the labor market. Applications increased by 7,000 to 241,000 in total during the week ended July 12, the Labor Department data showed. This came against forecasts for a rise to 233,000, as the previous week's data was revised upward by 1,000. The four-week average, a more stable measure, declined by 6,250 to 229,500, versus last week's revised average of 235,750. This data underscored the labor market's resilience, even as trade tensions persist and new tariffs on several imports are set to take effect on Aug. 1.
Bloomberg
5 days ago
- Business
- Bloomberg
US Initial Jobless Claims Decline for a Fifth Straight Week
Applications for US unemployment benefits declined for a fifth straight week to the lowest level since mid-April, showing a resilient job market. First-time jobless claims decreased by 7,000 to 221,000 in the week ended July 12. The median forecast in a Bloomberg survey of economists called for 233,000 applications.
