Trends - US economy - Business Recorder

US economy

Fed to meet as inflation, virus variants complicate US recovery

WASHINGTON: As rising prices and the spread of new Covid-19 variants increase risks to the US economy, Federal...

Published 26 Jul, 2021 06:03am

Markets

Dollar recovers ground as jobless claims data helps

Dollar Index up 0.1%.
US weekly jobless claims fall as expected.

Published 15 Jul, 2021 08:08pm

World

US weekly jobless claims fall as expected

Initial claims for state unemployment benefits fell 26,000 to a seasonally adjusted 360,000 for the week ended July 10, the Labor Department said.
Claims have declined from a record 6.149 million in early April 2020.

Published 15 Jul, 2021 05:52pm

Markets

US crude stockpiles fall for eighth week in a row

NEW YORK: US crude oil stockpiles fell for the eighth straight week last week, as renewed vigour in the US economy...

Published 15 Jul, 2021 04:03am

Business & Finance

Aging population to hit US economy like a ‘ton of bricks’: US commerce secretary

WASHINGTON, July 12 (Reuters) - President Joe Biden does not yet have enough support from fellow Democrats to secure...

Published 14 Jul, 2021 03:59am

World

US annual CPI jumps 5.4% in June, biggest since 2008

Energy prices have also rebounded after sinking in the midst of the pandemic shutdowns, with gasoline surging 45.1 percent over the past year, unadjusted, and 2.5 percent in the month, the report said.

Updated 13 Jul, 2021 06:54pm

China accuses US of 'unreasonable suppression'

SHANGHAI: China said on Sunday it "resolutely opposes" the addition of 23 Chinese entities to a US economic ...

Published 12 Jul, 2021 04:38am

World

Biden's executive order to promote competition in the US economy includes over 70 initiatives

"Inadequate competition holds back economic growth and innovation," the White House fact sheet said. "The rate of new business formation has fallen by almost 50% since the 1970s as large businesses make it harder for Americans with good ideas to break into markets."

Published 09 Jul, 2021 05:21pm

Business & Finance

US service sector growth slows

WASHINGTON: The dominant services sector of the US economy continued to grow strongly in June, but at a less red-hot...

Published 07 Jul, 2021 04:28am

World

US job growth picks up in June; unemployment rate rises to 5.9%

Nonfarm payrolls increased by 850,000 jobs last month after rising 583,000 in May, the Labor Department said in its closely watched employment report on Friday. The unemployment rate rose to 5.9% from 5.8% in May.

Published 02 Jul, 2021 06:02pm

Markets

US deficit to top $3 trillion again: budget office

The deficit is slightly lower than in the 2020 fiscal year, but higher than projected in the CBO's February estimates due to the massive stimulus program approved in March

Published 02 Jul, 2021 10:00am

World

US current account deficit rises to 14-year high in the first quarter

The Commerce Department said on Wednesday the current account deficit, which measures the flow of goods, services and investments into and out of the country, rose 11.8% to $195.7 billion last quarter.

Published 23 Jun, 2021 07:14pm

World

US factory activity index rises to record high in June

US manufacturing PMI rose to a reading of 62.6 this month.
IHS Markit said "average supplier delivery times lengthened to the greatest extent on record."

Published 23 Jun, 2021 07:01pm

Markets

Prospect of earlier Fed rate hike sends Asia markets lower

In a sign of the impact the issue is having, factory gate inflation surged nine percent in May, its highest rate since 2008.

Published 17 Jun, 2021 09:48am

Markets

Yields drift lower as latest views from Fed awaited

The benchmark 10-year yield was last down 1 basis point at 1.4888%.
"Truly, to getting a read on where the economy is heading and where inflation is heading, we don't think we're going to have those data points until the fall," he said.

Published 16 Jun, 2021 07:58pm

Business & Finance

US import prices accelerate in May; export prices surge

Import prices rose 1.1% last month after gaining a 0.8% in April.
The report also showed export prices jumped 2.2% in May after rising 1.1% in April. Prices for agricultural exports rose 6.1%, the largest gain since in November 2010.

Published 16 Jun, 2021 06:46pm

World

US housing starts rise less than expected in May; building permits fall

Housing starts rose 3.6% to a seasonally adjusted annual rate of 1.572 million units last month.
Though lumber prices dropped from a record high set in early May, softwood lumber prices increased 154.3% year-on-year in May.

Published 16 Jun, 2021 06:05pm

Markets

Dollar edges higher after US inflation data as traders await Fed meet

Traders watching for clues on timing of Fed tapering.
Bitcoin lingers above $40,000 level.

Published 15 Jun, 2021 08:46pm

World

US retail sales fall as spending shifts back to services; producer prices rise

Retail sales drop 1.3% in May; core sales fall 0.7%.
Producer price index rises 0.8%; up 6.6% year-on-year.

Updated 15 Jun, 2021 07:20pm

Markets

S&P 500 dips from record closing high as focus shifts to Fed meet

Lordstown slumps after CEO, CFO resign.
Tech-heavy Nasdaq outperforms S&P 500, Dow.
Indexes: Dow drops 0.55%, S&P down 0.20%, Nasdaq up 0.30%.

Updated 14 Jun, 2021 08:48pm

World

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

Gainers
Losers
Leaders

Stock	Price
Nazir Cotton / Jul 26 Nazir Cotton Mills Limited(NCML)	8.79 ▲ 0.89 (11.27%)
A. Shah Ghazi / Jul 26 Abdullah Shah Ghazi Sugar Mills Limited(AGSML)	10.58 ▲ 1.00 (10.44%)
Ghazi Fab. / Jul 26 Ghazi Fabrics International Limited(GFIL)	10.60 ▲ 1.00 (10.42%)
First UDL Mod. / Jul 26 First UDL Modaraba(FUDLM)	10.61 ▲ 1.00 (10.41%)
Ist Paramount / Jul 26 First Paramount Modaraba(FPRM)	5.33 ▲ 0.48 (9.90%)
First Tri-Star Mod. / Jul 26 First Tri-Star Modaraba(FTSM)	11.75 ▲ 1.00 (9.30%)
J.A.Textile / Jul 26 J.A. Textile Mills Limited(JATM)	12.88 ▲ 1.00 (8.42%)
Orient Rental Mod / Jul 26 Orient Rental Modaraba(ORM)	7.74 ▲ 0.59 (8.25%)
First AL-Noor Mod. / Jul 26 First Al-Noor Modaraba(FANM)	3.50 ▲ 0.25 (7.69%)
Arpak Int. / Jul 26 Arpak International Investments Ltd.(ARPAK)	70.12 ▲ 4.89 (7.50%)

Stock	Price
Habib Metro Mod / Jul 26 Habib Metro Modaraba(HMM)	7.10 ▲ -0.95 (-11.80%)
First Credit & Inv. / Jul 26 First Credit and Investment Bank Limited(FCIBL)	8.00 ▲ -1.00 (-11.11%)
Sui Northern / Jul 26 Sui Northern Gas Pipelines Limited(SNGP)	51.18 ▲ -5.07 (-9.01%)
PICIC Insurance / Jul 26 PICIC Insurance Limited(PIL)	1.65 ▲ -0.15 (-8.33%)
Quetta Textile / Jul 26 Quetta Textile Mills Limited(QUET)	11.03 ▲ -0.97 (-8.08%)
Shield Corp. / Jul 26 Shield Corporation Limited(SCL)	392.20 ▲ -31.80 (-7.50%)
Apna Microfin.Bank / Jul 26 Apna Microfinance Bank Limited(AMBL)	16.32 ▲ -1.32 (-7.48%)
Ashfaq Textile / Jul 26 Ashfaq Textile Mills Limited(ASHT)	23.30 ▲ -1.88 (-7.47%)
Wah-Noble / Jul 26 Wah Noble Chemicals Limited(WAHN)	310.00 ▲ -25.00 (-7.46%)
JS Global / Jul 26 JS Global Capital Limited(JSGCL)	110.17 ▲ -8.33 (-7.03%)

Stock	Volume
Worldcall / Jul 26 Worldcall Telecom Limited(WTL)	127,125,000 ▼ 0.00
Telecard Ltd. / Jul 26 Telecard Limited(TELE)	44,860,000 ▼ 0.00
TPL Corp / Jul 26 TPL Corp Limited(TPL)	17,361,000 ▼ 0.00
Al Shaheer Corp. / Jul 26 Al Shaheer Corporation Limited(ASC)	16,436,500 ▼ 0.00
Byco Petroleum / Jul 26 Byco Petroleum Pakistan Limited(BYCO)	13,198,000 ▼ 0.00
Nimir Resins / Jul 26 Nimir Resins Limited(NRSL)	9,194,000 ▼ 0.00
TRG Pakistan / Jul 26 TRG Pakistan Limited(TRG)	8,492,086 ▼ 0.00
Waves Singer / Jul 26 Waves Singer Pakistan Limited(WAVES)	8,289,000 ▼ 0.00
Pace (Pakistan) / Jul 26 Pace (Pakistan) Limited(PACE)	7,413,000 ▼ 0.00
Silkbank / Jul 26 Silkbank Limited(SILK)	7,108,000 ▼ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jul 24	161.50
USD PKR Interbank Buying / Jul 24	161.40
USD to Japanese Yen / Jul 24	110.55
USD to Swiss Franc / Jul 24	0.92
Pound Sterling to USD / Jul 24	1.37
Euro to USD / Jul 24	1.18
UK LIBOR % / Jul 24	0.08

Stock	Volume
S&P 500 / Jul 24	4411.79
India Sensex / Jul 24	52975.80
Tokyo Nikkei / Jul 24	27548.00
Nasdaq / Jul 24	14836.99
Hang Seng / Jul 24	27321.98
FTSE 100 / Jul 24	7027.58
Dow Jones / Jul 24	35061.55
Germany DAX 30 / Jul 24	15669.29
France CAC40 / Jul 24	6568.32

Item	Value
Crude Oil / Jul 24	72.07
Karachi Cotton Assoc. / Jul 24	12880.00
Gold 10 Grams / Jul 24	93620.00
Gold Spot / Jul 24	1805.90
Cotton / Jul 24	89.66

US economy

Fed to meet as inflation, virus variants complicate US recovery

Dollar recovers ground as jobless claims data helps

US weekly jobless claims fall as expected

US crude stockpiles fall for eighth week in a row

Aging population to hit US economy like a ‘ton of bricks’: US commerce secretary

US annual CPI jumps 5.4% in June, biggest since 2008

China accuses US of 'unreasonable suppression'

Biden's executive order to promote competition in the US economy includes over 70 initiatives

US service sector growth slows

US job growth picks up in June; unemployment rate rises to 5.9%

US deficit to top $3 trillion again: budget office

US current account deficit rises to 14-year high in the first quarter

US factory activity index rises to record high in June

Prospect of earlier Fed rate hike sends Asia markets lower

Yields drift lower as latest views from Fed awaited

US import prices accelerate in May; export prices surge

US housing starts rise less than expected in May; building permits fall

Dollar edges higher after US inflation data as traders await Fed meet

US retail sales fall as spending shifts back to services; producer prices rise

S&P 500 dips from record closing high as focus shifts to Fed meet

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

US trade deficit narrows in April as imports fall

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

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

OECD raises growth forecasts on vaccine rollouts, US stimulus

Gold flirts with $1,900 again in NY

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

US inflation surges in April; consumer spending moderates

Wall Street advances, unshaken by inflation surge

Thursday’s early trade: Main indexes move up

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