Source: Census Bureau The US recorded $275 billion in new orders of durable goods in March, up by 0.8% or $2.3 billion from the prior month. The orders missed estimates of a 1% increase. SPY is down -0.63%, DXY is up +0.23%. The increase in the durable goods orders happens after a slump of 1.7% in February. Excluding transportation, durable goods saw a 1.1% increase in … [Read more...] about US Durable Goods Misses Estimates after Rising by 0.8% in March
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US Business Output Falls to Three-Month Low as Inflation Continues to Accelerate
Source: Markit Economics Business activity in the United States dropped to a three-month low in April, on the back of the continuous increase in prices. QQQ is down 0.75%, while SPY is down 1.19%. The US PMI Composite Output Index slipped to 55.1 from 57.7 in March, hitting the lowest level in three months.The decline was attributed to the challenges such as rising … [Read more...] about US Business Output Falls to Three-Month Low as Inflation Continues to Accelerate
Manufacturing Output, Expectations Decline in April
Source: Philadelphia Fed Manufacturing output retreated in April to erase most of the gains recorded in the previous month, with firms expecting dimmer conditions moving forward. QQQ is up 1.44%, while SPY is up 1.05%. The diffusion index for current general activity stood at 17.6, down from 27.4 in March and 44.5 in April 2021.Over 34% of survey respondents reported an … [Read more...] about Manufacturing Output, Expectations Decline in April
US Existing-Home Sales Drops for Second Consecutive Month
Source: National Association of Realtors Existing-home sales in the United States slipped for the second straight month in March due to higher mortgage rates and the inflationary uptick during the period. XHB is up 0.66%, while ITB is up 0.60%. Seasonally adjusted sales for the month stood at 5.77 million in March, down 2.7% from February and 4.5% from 6.04 million in the … [Read more...] about US Existing-Home Sales Drops for Second Consecutive Month
US Mortgage Applications Drop as Home Loan Rates Surge to 12-Year High
Source: Reuters The average home loan rates in the United States grew to the highest level in 12 years last week, in an indication that the housing market may be starting to see a cooldown. ITB is up 1.18%, while XHB is up 0.94%. The 30-year fixed-rate average contract rate jumped to 5.20% in the week ending April 15 from 5.13% in the previous week and two percentage … [Read more...] about US Mortgage Applications Drop as Home Loan Rates Surge to 12-Year High
