Trends - US economy - Business Recorder

US economy

Covid rescue plan clears hurdle as US economy shows gains

"This agreement allows us to move forward on the urgently needed American Rescue Plan," White House spokeswoman said.

Published 06 Mar, 2021 05:00pm

Business & Finance

US job growth blows past expectations as recovery gets back on track

WASHINGTON: The US economy created more jobs than expected in February as falling new COVID-19 cases and ...

Published 06 Mar, 2021 05:01am

World

White House adviser says more aid needed given deep US jobs hole

"We remain in a jobs hole that is deeper than that of the Great Recession," Council of Economic Advisers member Heather Boushey said in an interview. "This remains a crisis."

Published 05 Mar, 2021 08:12pm

World

US factory orders surge, but business spending on equipment slowing

The Commerce Department said on Thursday that factory orders shot up 2.6% after rising 1.6% in December. Economists polled by Reuters had forecast factory orders advancing 2.1% in January. Orders increased 1.3% on a year-on-year basis.
Unfilled orders at factories edged up 0.1% in January after decreasing 0.2% in December.

Updated 04 Mar, 2021 09:52pm

World

US mortgage rates jump by most in nearly a year

The contract rate on a 30-year fixed-rate mortgage, the most popular US home loan, rose by 0.15 percentage point to 3.23% in the week ended Feb. 26.
The MBA said its weekly index of mortgage applications rose 0.5% to 794.5, its first increase in four weeks.

Published 03 Mar, 2021 07:13pm

Business & Finance

US manufacturing activity hits three-year high

WASHINGTON: US manufacturing activity increased to a three-year high in February amid a surge in new orders, but...

Updated 02 Mar, 2021 09:44am

World

US consumer spending rebounds; inflation muted

Consumer spending increases 2.4% in January.
Personal income jumps 10%; saving rate rises to 20.5%.
Core PCE price index rises 0.3%; up 1.5% year-on-year.

Published 26 Feb, 2021 09:03pm

Business & Finance

Dollar struggles in Europe

• Antipodean units soar against dollar

Published 25 Feb, 2021 04:58am

Business & Finance

Powell says economy still needs Fed support, pushes back on inflation worries

“Monetary policy is accommodative and it continues to need to be accommodative ... Expect us to move carefully, patiently, and with a lot of advance warning,” before any changes, Powell said in response to questions from Republican lawmakers about whether a faster-than-expected recovery still required crisis-level assistance.

Published 24 Feb, 2021 10:15am

World

US existing home sales unexpectedly rise in January

Home resales, which account for the bulk of US home sales, surged 23.7% on a year-on-year basis.
The inventory crunch could ease as builders step up construction, though they are facing challenges from record lumber prices as well as shortages of land and labor.

Published 19 Feb, 2021 08:59pm

World

US housing starts fall in January; permits soar

Housing starts decreased 6.0% to a seasonally adjusted annual rate of 1.580 million units last month, the Commerce Department said on Thursday.
Permits for future homebuilding shot up 10.4% to a rate of 1.881 million units in January. Permits typically lead starts by one to two months.

Published 18 Feb, 2021 08:01pm

Markets

Dollar steadies on US recovery hopes, Bitcoin near record $52,640

Dollar trades below 10-day high.
Euro consolidates above $1.20.
Sterling trades above $1.39.

Published 18 Feb, 2021 06:13pm

Markets

China shares rise on return from holiday, profit-taking hits other markets

Spot gold edged up 0.14% to $1,778.72 per ounce. US gold futures rose 0.28% to $1,777.60 per ounce.

Published 18 Feb, 2021 12:43pm

World

US retail sales rebound strongly in January amid additional stimulus

Retail sales surged by a seasonally adjusted 5.3% last month, the Commerce Department said on Wednesday.
Further gains in sales are expected in the months ahead. The US Congress is considering President Joe Biden's $1.9 trillion recovery plan, which will include an additional $1,400 checks to households.

Published 17 Feb, 2021 08:56pm

Markets

Dollar headed for weekly loss, bitcoin renews record above $48,000

The euro was little changed at $1.21275, consolidating for a third day near that level as it headed for a 0.6% weekly advance.

Updated 12 Feb, 2021 11:50pm

Markets

Dollar gains on euro, yen while pound rebounds

The US dollar index rose 0.48% in New York morning trading to 91.507, its highest level in two months and up 1.7% for the year.

Updated 04 Feb, 2021 11:31pm

World

US consumer spending falls for second straight month in December

Consumer spending, which accounts for more than two-thirds of US economic activity, slipped 0.2% last month after dropping 0.7% in November.

Published 29 Jan, 2021 07:25pm

Markets

US stocks stage partial rebound from rout

Most topped expectations, but shares of these companies were mixed.

Published 29 Jan, 2021 09:52am

Markets

Thursday’s early trade: Main indexes up on big-tech strength

NEW YORK: Wall Street’s main indexes rose on Thursday, as a reversal of declines in mega-cap technology stocks...

Published 29 Jan, 2021 04:55am

Markets

US MIDDAY: Silver climbs, gold up

NEW YORK: Silver prices rose around 7% on Thursday as the dollar weakened, making the metal cheaper for buyers...

Published 29 Jan, 2021 04:55am

Business & Finance

US economy in 2020 has worst year since 1946

Net exports fell 13 percent last year while personal consumption expenditures dropped 3.9 percent.

Published 28 Jan, 2021 07:09pm

Business & Finance

US economy likely logged its weakest performance in 74 years in 2020

But the inventory accumulation included imports, likely leading to a larger trade deficit, which subtracted from growth.

Published 28 Jan, 2021 11:20am

World

US consumers expect spending to rebound strongly in one year, NY Fed survey finds

The report showed that consumers are slowly spending more as the economy reopens and more people gradually return to work.
Consumers from all education and income groups were much more optimistic about how much they would be able to spend in a year.

Published 25 Jan, 2021 09:11pm

World

Yellen says Biden to use all tools against China trade abuses

WASHINGTON: The incoming administration of President-elect Joe Biden will use all available tools to address...

Updated 20 Jan, 2021 09:51am

Business & Finance

COVID-19 pressures U.S. retail sales; manufacturing shines

The ebbing economic momentum, which appears to have spilled over into the new year, could persuade the U.S. Congress to agree to President-elect Joe Biden’s ambitious $1.9 trillion fiscal stimulus plan.

Published 16 Jan, 2021 02:15pm

World

Biden to unveil plan to pump $1.5 trillion into pandemic-hit economy

The incoming administration will work with Congress on the quick stimulus package after Biden takes office on Jan. 20.
Biden plans to introduce his package during a prime-time address on Thursday evening, underscoring the seriousness of the topic.

Published 14 Jan, 2021 06:09pm

Business & Finance

US inflation stays muted as chaotic 2020 ends

The food index, both for meals at home and away, rose 0.4 percent.

Updated 13 Jan, 2021 11:17pm

World

PIMCO says 2021 'not a time for excessive optimism'

In its 2021 outlook published Tuesday, the California-based fixed-income investor, which manages over $2 trillion in assets.
Investors may have become too complacent as reflected by the bullish consensus positioning. As these risk factors underline.

Published 12 Jan, 2021 08:44pm

World

US economy loses jobs as pandemic pummels restaurants, bars

Nonfarm payrolls decrease 140,000 in December.
Restaurant, bar payrolls tumble 372,000.
Unemployment rate unchanged at 6.7%.

Published 08 Jan, 2021 08:16pm

Business & Finance

Yale Economist predicts US to face Dollar collapse, Double-Dip Recession

“I think that with the infection rate still souring the US economy is still a vulnerable economy and is likely to experience further lockdown,” predicted Roach.

Published 28 Dec, 2020 10:54am

Gainers
Losers
Leaders

Stock	Price
Bal. Glass / Mar 8 Balochistan Glass Limited(BGL)	9.11 ▲ 1.00 (12.33%)
Premier Ins. / Mar 8 Premier Insurance Limited(PINL)	4.67 ▲ 0.47 (11.19%)
Gammon Pak / Mar 8 Gammon Pakistan Limited(GAMON)	13.25 ▲ 1.00 (8.16%)
AKD Capital Ltd / Mar 8 AKD Capital Limited(AKDCL)	359.55 ▲ 25.08 (7.50%)
Janana D Mal / Mar 8 Janana De Malucho Textile Mills Limited(JDMT)	116.27 ▲ 8.11 (7.50%)
Javedan Corp. / Mar 8 Javedan Corporation Limited(JVDC)	28.34 ▲ 1.97 (7.47%)
Ghani Global Hold. / Mar 8 Ghani Global Holdings Limited(GGL)	21.45 ▲ 1.49 (7.46%)
Leiner Gelatine / Mar 8 Leiner Pak Gelatine Limited(LPGL)	19.45 ▲ 1.35 (7.46%)
Metro Steel / Mar 8 Metropolitan Steel Corporation Limited(MSCL)	16.44 ▲ 1.14 (7.45%)
Sindh Abadgar / Mar 8 Sindh Abadgar Sugar Mills Limited(SASML)	15.49 ▲ 0.99 (6.83%)

Stock	Price
Samin Textile / Mar 8 Samin Textiles Limited(SMTM)	7.00 ▲ -1.00 (-12.50%)
Universal Ins. / Mar 8 The Universal Insurance Company Limited(UVIC)	4.51 ▲ -0.64 (-12.43%)
Tri-Star / Mar 8 Tri-Star Mutual Fund Limited(TSMF)	5.02 ▲ -0.61 (-10.83%)
Saudi Pak Leas. / Mar 8 Saudi Pak Leasing Company Limited(SPLC)	1.43 ▲ -0.17 (-10.63%)
Hala Enterpries / Mar 8 Hala Enterprises Limited(HAEL)	9.51 ▲ -0.89 (-8.56%)
B.R.R. Mod. / Mar 8 B.R.R. Guardian Modaraba(BRR)	12.30 ▲ -1.00 (-7.52%)
Gatron Ind. / Mar 8 Gatron (Industries) Limited(GATI)	544.73 ▲ -44.16 (-7.50%)
IGI Life Ins. / Mar 8 IGI Life Insurance Limited(IGIL)	54.12 ▲ -4.38 (-7.49%)
Frontier Cer. / Mar 8 Frontier Ceramics Limited(FRCL)	33.31 ▲ -2.69 (-7.47%)
United Brands / Mar 8 United Brands Limited(UBDL)	28.40 ▲ -2.27 (-7.40%)

Stock	Volume
Azgard Nine / Mar 8 Azgard Nine Limited(ANL)	36,654,500 ▼ 0.00
TRG Pak. / Mar 8 TRG Pakistan Limited(TRG)	25,846,302 ▼ 0.00
Unity Foods / Mar 8 Unity Foods Limited(UNITY)	24,000,274 ▼ 0.00
Byco Petr. / Mar 8 Byco Petroleum Pakistan Limited(BYCO)	15,711,000 ▼ 0.00
Pakistan Refinery / Mar 8 Pakistan Refinery Limited(PRL)	14,365,500 ▼ 0.00
Ghani Global Hold. / Mar 8 Ghani Global Holdings Limited(GGL)	12,126,500 ▼ 0.00
Telecard / Mar 8 Telecard Limited(TELE)	9,892,500 ▼ 0.00
Fauji Fert. Bin / Mar 8 Fauji Fertilizer Bin Qasim Limited(FFBL)	8,027,500 ▼ 0.00
K-Electric Ltd / Mar 8 K-Electric Limited(KEL)	7,905,500 ▼ 0.00
Pak Int.Bulk Ter / Mar 8 Pakistan International Bulk Terminal Limited(PIBTL)	6,824,000 ▼ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Mar 6	157.18
USD PKR Interbank Buying / Mar 6	157.08
USD to Japanese Yen / Mar 6	108.31
USD to Swiss Franc / Mar 6	0.93
Pound Sterling to USD / Mar 6	1.38
Euro to USD / Mar 6	1.19
UK LIBOR % / Mar 6	0.08

Stock	Volume
S&P 500 / Mar 6	3841.94
India Sensex / Mar 6	50405.32
Tokyo Nikkei / Mar 6	28864.32
Nasdaq / Mar 6	12920.15
Hang Seng / Mar 6	29098.29
FTSE 100 / Mar 6	6630.52
Dow Jones / Mar 6	31496.30
Germany DAX 30 / Mar 6	13920.69
France CAC40 / Mar 6	5782.65

Item	Value
Crude Oil / Mar 6	66.09
Karachi Cotton Assoc. / Mar 6	12200.00
Gold 10 Grams / Mar 6	94564.00
Gold Spot / Mar 6	1698.50
Cotton / Mar 6	87.76

US economy

Covid rescue plan clears hurdle as US economy shows gains

US job growth blows past expectations as recovery gets back on track

White House adviser says more aid needed given deep US jobs hole

US factory orders surge, but business spending on equipment slowing

US mortgage rates jump by most in nearly a year

US manufacturing activity hits three-year high

US consumer spending rebounds; inflation muted

Dollar struggles in Europe

Powell says economy still needs Fed support, pushes back on inflation worries

US existing home sales unexpectedly rise in January

US housing starts fall in January; permits soar

Dollar steadies on US recovery hopes, Bitcoin near record $52,640

China shares rise on return from holiday, profit-taking hits other markets

US retail sales rebound strongly in January amid additional stimulus

Dollar headed for weekly loss, bitcoin renews record above $48,000

Dollar gains on euro, yen while pound rebounds

US consumer spending falls for second straight month in December

US stocks stage partial rebound from rout

Thursday’s early trade: Main indexes up on big-tech strength

US MIDDAY: Silver climbs, gold up

US economy in 2020 has worst year since 1946

US economy likely logged its weakest performance in 74 years in 2020

US consumers expect spending to rebound strongly in one year, NY Fed survey finds

Yellen says Biden to use all tools against China trade abuses

COVID-19 pressures U.S. retail sales; manufacturing shines

Biden to unveil plan to pump $1.5 trillion into pandemic-hit economy

US inflation stays muted as chaotic 2020 ends

PIMCO says 2021 'not a time for excessive optimism'

US economy loses jobs as pandemic pummels restaurants, bars

Yale Economist predicts US to face Dollar collapse, Double-Dip Recession

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