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May 16, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

US economy

US consumer confidence vaults to 14-month high in April

US consumer confidence vaults to 14-month high in April

  • The Conference Board said on Tuesday its consumer confidence index raced to a reading of 121.7 this month. That was the highest level since February 2020, just before the onset of the COVID-19 pandemic, and followed a reading of 109.0 in March. Economists polled by Reuters had forecast the index increasing to a reading of 113.0 in April.
Published 27 Apr, 2021 07:48pm
US manufacturing activity accelerates in early April; supply constraints worsening
World

US manufacturing activity accelerates in early April; supply constraints worsening

  • Data firm IHS Markit said on Friday its flash US manufacturing PMI increased to 60.6 in the first half of this month. That was the highest reading since the series started in May 2007 and followed a final reading of 59.1 in March.
  • Economists polled by Reuters had forecast the index rising to 60.5 in early April. A reading above 50 indicates growth in manufacturing, which accounts for 11.9% of the US economy.
Published 23 Apr, 2021 07:57pm
Asian equities higher on US recovery hopes
Markets

Asian equities higher on US recovery hopes

  • "With a softening in the Chinese credit impulse and a resurgence of virus cases in India and Japan, topside ambitions continue to run into walls of profit-taking," he added.
Published 19 Apr, 2021 10:36am
Dollar edges higher on strong data, despite lower yields
Markets

Dollar edges higher on strong data, despite lower yields

  • Retail sales increased 9.8% last month, the Commerce Department said on Thursday, beating economists' expectations for a 5.9% increase.
  • The dollar index earlier on Thursday hit a one-month low of 91.487, before rebounding to 91.633, up 0.03% on the day.
Published 15 Apr, 2021 08:02pm
Dollar General to hire up to 20,000 workers as economy rebounds
Business & Finance

Dollar General to hire up to 20,000 workers as economy rebounds

  • But the number was lower than the more than 50,000 workers the company hired around the same time last year, which was nearly double its normal hiring rate, to support a surge in sales at its stores at the height of COVID-19 lockdowns.
  • The discount retailer said in a statement on Wednesday that it would host hiring events from this month to fill positions in its stores, distribution centers and corporate offices.
Published 14 Apr, 2021 05:29pm
JPMorgan profit surges on trading, investment banking boost
Business & Finance

JPMorgan profit surges on trading, investment banking boost

  • Net income rose to $14.3 billion, or $4.50 per share, in the quarter ended March 31, from $2.9 billion, or 78 cents per share, a year earlier. During the quarter, JPMorgan released reserves of $5.2 billion.
  • Goldman Sachs, Wall Street's premier investment bank, is expected to report results later on Wednesday, followed by Wells Fargo.
Published 14 Apr, 2021 04:39pm
Wholesale February inventories revised slightly up
World

Wholesale February inventories revised slightly up

  • That suggests inventory investment could contribute to GDP growth in the first quarter. Inventories increased 2.0% in February from a year earlier. Sales at wholesalers fell 0.8% after accelerating 4.4% in January.
  • At February's sales pace it would take wholesalers 1.27 months to clear shelves, up from 1.25 months in January.
Published 09 Apr, 2021 08:47pm
US stock futures buoyant on inflation view
Markets

US stock futures buoyant on inflation view

  • S&P futures flat, Nasdaq futures dip 0.2%.
  • European stocks eye longest weekly winning streak since Nov 2019.
  • Dovish Powell, weak jobs data quell inflation jitters.
  • Dollar index eyes worst week of year on lower bond yields.
Published 09 Apr, 2021 05:46pm
US weekly jobless claims unexpectedly rise
World

US weekly jobless claims unexpectedly rise

  • Initial claims for state unemployment benefits totaled a seasonally adjusted 744,000 for the week ended April 3 compared to 728,000 in the prior week, the Labor Department said on Thursday.
  • The labor market has regained its footing after stumbling in December, thanks to the White House's massive $1.9 trillion pandemic rescue package and an acceleration in the pace of vaccinations against COVID-19, which are allowing more services businesses to resume operations.
Published 08 Apr, 2021 06:21pm
US yields mostly down with market in consolidation phase
Markets

US yields mostly down with market in consolidation phase

  • Yields on the front end to the so-called belly of the curve were down, while those on the very long end were firmer. US 10-year yields, however, dropped to a two-week low.
  • In mid-morning trading, the US 10-year Treasury yield was little changed at 1.656%, from 1.657% on Tuesday.
Published 07 Apr, 2021 08:11pm
US factories desperate for workers, even as ranks of jobless remains high
World

US factories desperate for workers, even as ranks of jobless remains high

  • "We hired two from the ads," said Arnold, just a fraction of the 125 he needs to get back to full strength of 673 workers. Half the welding jobs at his Texas plant are open, for instance, creating a bottleneck in an operation that builds trailers on metal frames.
  • US manufacturers have long grumbled about labor shortages, but the past year has proven particularly frustrating.
Published 02 Apr, 2021 07:49pm
US job growth accelerates in March; unemployment rate falls to 6.0pc
World

US job growth accelerates in March; unemployment rate falls to 6.0pc

  • Nonfarm payrolls surged by 916,000 jobs last month, the Labor Department said on Friday. That was be the biggest gain since last August. Data for February was revised higher to show 468,000 jobs created instead of the previously reported 379,000.
  • Nearly 1.7 million jobs were lost that month, and another 20.7 million would vanish in April.
Published 02 Apr, 2021 06:03pm
US manufacturing sector index races to 37-year high in March
World

US manufacturing sector index races to 37-year high in March

  • The Institute for Supply Management (ISM) said on Thursday its index of national factory activity jumped to a reading of 64.7 last month from 60.8 in February. That was the highest level since December 1983.
  • President Joe Biden on Wednesday unveiled a plan to spend roughly $2 trillion on infrastructure like roads and bridges over 10 years.
Published 01 Apr, 2021 07:06pm
White House unveils $2 trillion infrastructure and climate plan
World

White House unveils $2 trillion infrastructure and climate plan

  • President Joe Biden on Wednesday will call for a dramatic and more permanent shift in the direction of the U.S. economy with a roughly $2 trillion package to invest in traditional projects like roads and bridges alongside tackling climate change and boosting human services like elder care.
  • He also aims to put corporate America on the hook for the tab, which is expected to grow to a combined $4 trillion once he rolls out the second part of his economic plan in April.
Updated 31 Mar, 2021 03:05pm