Source: Markit Economics The manufacturing sector in the United States continued to grow in April, reaching the fastest growth in nine months. QQQ is up 1.12%, while SPY is up 0.67%. The S&P Global US Manufacturing PMI stood at 59.2 in April, up from 58.8 in March. This is the third straight month of growth and the biggest jump since September.Growth was driven mainly … [Read more...] about US Manufacturing Growth Carves Nine-Month High
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US Personal Spending Growth Quickens as Prices Climb Faster
Source: Bureau of Economic Analysis Personal spending growth in the United States rebounded in March, in line with the acceleration of the growth of prices during the period. QQQ is down 1.97%, while SPY is down 1.63%. Personal spending posted a monthly increase of 1.1% in March, faster than the 0.6% in February but lower than the 2.0% in the first month of the … [Read more...] about US Personal Spending Growth Quickens as Prices Climb Faster
US Mortgage Rates Decline, But Remain at 12-Year Highs
Source: Bloomberg Mortgage rates in the United States posted a slight decline but continued to hover around 12-year highs. XHB is up 0.23%, ITB is up 1.12%. The average 30-year loan rate stood at 5.10%, slightly lower than the 5.11% recorded in the past week, according to Freddie Mac.The latest reading remains at historic highs, being the highest level recorded since … [Read more...] about US Mortgage Rates Decline, But Remain at 12-Year Highs
US Economy Contracts for First Time in Two Years
Source: Bureau of Economic Analysis The United States’ economy opened the year in a negative note, marking the first contraction since the COVID-19 pandemic hit. QQQ is up 0.49%, while SPY is up 0.24%. The real gross domestic product (GDP) contracted by 1.4% in the first quarter of 2022, following six straight quarters of expansion.The last contraction of the US economy … [Read more...] about US Economy Contracts for First Time in Two Years
US Jobless Claims Declined by 5,000 Last Week
Source: Department of Labor US jobless claims for the week that ended April 23 was 180,000, down by 5,000 from the previous week. DJI is up +0.44%, DXY is u +0.61%. On a four-week moving average, the jobless claims rose by 2,250 to 179,750.The continuing claims declined by 1,000 to 1.41 million. The claims were at the lowest since February 7, 1970.The initial claims … [Read more...] about US Jobless Claims Declined by 5,000 Last Week
