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US economy

US weekly jobless claims fall; consumer prices rise more than expected

Initial claims for state unemployment benefits totaled a seasonally adjusted 376,000 for the week ended June 5, compared to 385,000 in the prior week.
In the 12 months through May, the CPI accelerated 5.0%. That was the biggest year-on-year increase since August 2008, and followed a 4.2% rise in April.

Published 10 Jun, 2021 06:52pm

World

US trade deficit narrows in April as imports fall

Trade deficit falls 8.2% to $68.9 billion in April.
Imports drop 1.4%; exports increase 1.1%.

Published 08 Jun, 2021 07:44pm

World

Biden administration sets up 'strike force' to go after China on trade

Biden has said China will not surpass the United States as a global leader on his watch, and confronting Beijing is one of the few bipartisan issues in an otherwise deeply divided Congress.

Published 08 Jun, 2021 02:37pm

Business & Finance

Early trade in New York: Dollar lifted by strong US data

NEW YORK: The dollar rose on Thursday after stronger-than-expected US jobs data that suggested an improving labour...

Published 04 Jun, 2021 05:06am

World

OECD raises growth forecasts on vaccine rollouts, US stimulus

Buoyed by a multi-trillion-dollar stimulus plan, the US economy was seen growing 6.9% this year, the OECD said, up from a previous forecast of 6.5%. It is expected to expand 3.6% in 2022, down from a 4.0% forecast in March.

Published 31 May, 2021 02:29pm

Markets

Gold flirts with $1,900 again in NY

NEW YORK: Gold reversed course and turned positive early in New York on Friday, briefly popping above the key $1,900...

Published 29 May, 2021 03:59am

Business & Finance

Biden pitches $6trn budget to ‘reimagine’ US economy

WASHINGTON: President Joe Biden on Friday proposed a $6 trillion budget to “reimagine” the US economy and stave...

Published 29 May, 2021 03:59am

World

US inflation surges in April; consumer spending moderates

Core PCE price index jumps 0.7% in April.
Core PCE price index accelerates 3.1% year-on-year.
Consumer spending increases 0.5%; income drops 13.1%.

Published 28 May, 2021 08:53pm

Markets

Wall Street advances, unshaken by inflation surge

HP slumps after warning chip shortage will hit PC supplies.
Boeing down on reports of 787 Dreamliner delivery halt.
Indexes up: Dow 0.41%, S&P 0.33%, Nasdaq 0.49%.

Published 28 May, 2021 08:33pm

Markets

Thursday’s early trade: Main indexes move up

NEW YORK: Wall Street’s main indexes rose on Thursday, helped by gains in industrial and financial shares, after...

Published 28 May, 2021 04:08am

Markets

US yields slip as investors await 5-year note auction

The US Treasury is also set to auction $61 billion in 5-year notes later on Wednesday and $62 billion in 7-year debt on Thursday.
In mid-morning trading, the US 10-year Treasury yield fell to 1.553% from 1.564% late on Tuesday.

Published 26 May, 2021 07:54pm

World

US manufacturing activity powers ahead in early May; work backlogs rising: survey

According to IHS Markit "manufacturers highlighted that strain on capacity and raw material shortages are expected to last through 2021." It noted that the supply crunch was raising production costs for manufacturers, who "made efforts to pass higher cost burdens on to clients."
The survey said its measure of new orders increased and that though factories tried to recruit more workers, the pace of hiring was the slowest in five months.

Published 21 May, 2021 07:03pm

Markets

US stocks drop

NEW YORK: Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting...

Published 21 May, 2021 05:04am

World

US weekly jobless claims drop further; mid-Atlantic factory activity slows

Weekly jobless claims fall 34,000 to 444,000.
Continuing claims increase 111,000 to 3.751 million.
Mid-Atlantic factory activity, hiring slow in May.

Published 20 May, 2021 09:23pm

World

US recovery could be ‘unprecedented’, says Fed official

WASHINGTON: Bringing the US economy back from the brutal downturn caused by Covid-19 will take time, and hiccups ...

Updated 18 May, 2021 09:36am

World

US homebuilder confidence steady in May, survey shows

"Builder confidence in the market remains strong due to a lack of resale inventory, low mortgage interest rates, and a growing demographic of prospective home buyers," NAHB Chairman Chuck Fowke said in a statement.
"Policymakers must take note and find ways to increase production of domestic building materials, including lumber and steel, and suspend tariffs on imports of construction materials," Fowke said.

Published 17 May, 2021 08:47pm

World

US wholesale inventories rise solidly in March

Wholesale inventories shot up 4.5% in March from a year earlier. Sales at wholesalers jumped 4.6% after being unchanged in February.
The inventory drawdown subtracted 2.64 percentage points from GDP growth last quarter.

Published 07 May, 2021 08:30pm

Markets

Dollar falls as risk appetite improves, sterling dips on BoE

Greenback at lowest in three days.
Aussie dollar falls overnight.
Canadian dollar at 3-1/2-year high.

Published 06 May, 2021 08:45pm

Markets

US yields slide ahead of non-farm payrolls report

"The growth story is leading to inflation, while the Federal Reserve is jawboning, trying to keep expectations down, which I think is the right thing to do."
In mid-morning trading, the US 10-year Treasury yield fell to 1.559% on Thursday, from 1.584% late on Wednesday.

Published 06 May, 2021 08:08pm

World

US economy regains more private jobs in April: survey

"The labor market is recovering and job growth is set to accelerate over coming months as the economy continues to move closer to a broader reopening," Rubeela Farooqi of High Frequency Economics said.

Published 05 May, 2021 06:50pm

Markets

Gold steadies on firm dollar; palladium hovers near record

Dollar hovers close to a near two-week peak.
Palladium soared to a record high in the last session.
Silver, platinum below more than two-month highs hit on Tuesday.

Published 05 May, 2021 05:52pm

Markets

US interest rates may have to rise if economy heats up: Yellen

Though Yellen acknowledged the higher growth "could cause some very modest increases in interest rates," the United States needs the investments "to be competitive and to be productive."

Published 05 May, 2021 10:44am

World

US trade deficit hits a record high amid pent-up demand

Trade deficit increases 5.6% to $74.4 bln in March.
Imports surge 6.3%; exports accelerate 6.6%.

Published 04 May, 2021 06:30pm

Markets

US to see growth boom, but Fed's Williams says inflation not a worry

He credited the Fed's stimulative policies, including interest rates near zero, with having "positive effects" on the economy, enabling Americans to purchase homes and big-ticket goods.

Published 04 May, 2021 10:12am

Markets

Asian markets mostly down as inflation concerns persist

In early Asian trade, Hong Kong, Singapore and Taipei were all down more than one percent, while there were also losses in Seoul, Jakarta and Wellington, though Sydney and Manila edged up.

Published 03 May, 2021 11:40am

Markets

Wall Street drifts lower; S&P 500 on track for third straight month of gains

Twitter plunges on grim outlook.
Chevron down as profit drops on weaker refining margins.
US consumer spending rebounds in March.
- Indexes down: Dow 0.42%, S&P 0.49%, Nasdaq 0.50%.

Published 30 Apr, 2021 08:25pm

World

Stimulus checks boost US consumer spending in March

Consumer spending increases 4.2% in March.
Personal income jumps 21.1%.
Core PCE price index gains 0.4%; up 1.8% year-on-year.
Labor costs rise 0.9% in first quarter; wages up 1%.

Published 30 Apr, 2021 08:21pm

World

US consumer spending, income rebound in March

Consumer spending, which accounts for more than two-thirds of US economic activity, increased 4.2% last month after falling 1.0% in February, the Commerce Department said on Friday.
Personal income jumped 21.1% after declining 7.0% in February. Economists polled by Reuters had forecast consumer spending increasing 4.1% and income surging 20.3%.

Published 30 Apr, 2021 06:22pm

World

US economy accelerates in first quarter; jobless claims edge lower

Still, the economy remains at least a couple of years away from fully recovering from the pandemic recession, which started in February 2020.
Former President Donald Trump's government provided nearly $3 trillion in relief money early in the pandemic, leading to record GDP growth in the third quarter of last year.

Published 29 Apr, 2021 05:39pm

Markets

Hong Kong stocks enjoy gains in morning session

The Hang Seng Index gained 0.62 percent, or 180.06 points, to 29,251.40.

Published 29 Apr, 2021 10:20am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 27	278.43
USD PKR Interbank Buying / May 27	278.23
USD to Japanese Yen / May 28	157.24
USD to Swiss Franc / May 28	0.91
Pound Sterling to USD / May 28	1.28
Euro to USD / May 28	1.08

Stock	Volume
S&P 500 / May 28	5306.04
India Sensex / May 28	75170.45
Tokyo Nikkei / May 28	38790.40
Nasdaq / May 28	17019.88
Hang Seng / May 28	18612.70
FTSE 100 / May 28	8254.18
Dow Jones / May 28	38852.86
Germany DAX 30 / May 28	18677.87

Item	Value
Karachi Cotton PKR/37.32 KG / May 27	19935
Crude Oil USD/Barrel / May 28	80.12
Gold 10 Grams PKR / May 28	206018
Gold Spot USD/Ounce / May 28	2358.18
Cotton US¢/pound / May 28	78.80
Petrol/Litre / May 29	273.10

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 29 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 29 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 29 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 29 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 29 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 29 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 29 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 29 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 29 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 29 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 29 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 29 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 29 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 29 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 29 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 29 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 29 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 29 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 29 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 29 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 29 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 29 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 29 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 29 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 29 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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