Home Depot Inc. is offering cautious preliminary guidance for next year, a sign that the home-improvement retailer doesn’t anticipate the housing market to rebound in the short term. The company expects comparable sales growth to be in a range of flat to up 2% for the year — below the average of estimates compiled by […]
Home Depot gives cautious preliminary forecast for next year Read More »
US companies shed payrolls in November by the most since early 2023, adding to concerns about a more pronounced weakening in the labor market. Private-sector payrolls decreased by 32,000, according to ADP Research data released Wednesday. Payrolls have now fallen four times in the last six months. The median estimate in a Bloomberg survey of
Payrolls at US companies fall by most since 2023, ADP says Read More »
Initial applications for US jobless benefits totaled 232,000 in the week ended Oct. 18, according to the Labor Department website showing historical data for claims. Continuing claims, a proxy for the number of people receiving benefits, came in at 1.957 million, up slightly from 1.947 million in the prior week. For initial claims, weekly data for the
US jobless claims totaled 232,000 in week ended Oct. 18 Read More »
Federal Reserve Governor Stephen Miran on Wednesday described data that showed employment at US companies increased in October as “a welcome surprise,” though he reiterated interest rates need to be lower. Private-sector payrolls increased by 42,000 after a revised 29,000 decline a month earlier, according to ADP Research data released Wednesday. The median estimate in
Fed’s Miran says ADP jobs data slightly better than expected Read More »
Three Federal Reserve officials said they did not support the US central bank’s decision to cut interest rates this week, citing inflation that remains too high. Dallas Fed President Lorie Logan and her Cleveland counterpart, Beth Hammack, said Friday they would have preferred to hold rates steady. Both were speaking at a conference in Dallas,
Fed ‘chorus’ comes out against latest rate cut, citing inflation Read More »
The data void created by the US government shutdown is pushing bond traders to hedge against the risk that the Federal Reserve pauses at one of its two remaining meetings this year, or potentially delivers more policy easing than the market anticipates. Interest-rate swaps have been steadily pricing in roughly a quarter-point rate cut in both October
Bond traders step up Fed hedges as shutdown clouds outlook Read More »
US consumer confidence fell in September to a five-month low on growing concerns about job prospects and the broader economy. The Conference Board’s gauge of confidence decreased 3.6 points to 94.2, data released Tuesday showed. The median estimate in a Bloomberg survey of economists called for a reading of 96. READ MORE: Mortgages with rates
Consumer confidence falls to five-month low on job concerns Read More »
Housing starts in the U.S. fell last month to the lowest since May, as bloated home inventory slowed builders’ appetites to boost production. New residential construction decreased 8.5% last month to an annualized rate of 1.31 million homes, government data released Wednesday showed. The median forecast in a Bloomberg survey of economist was for 1.37
Housing starts fall to lowest since May in broad decline Read More »
US Treasuries retained most of their recent gains as anticipation of Federal Reserve interest rate cuts held firm after the central bank’s preferred gauge of inflation matched economist estimates. Yields were mixed across tenors following Friday’s release of July personal income and spending data, with short maturities little changed after falling from session highs while longer-dated
Treasuries hold recent gains as inflation gauge stabilizes Read More »
Bond traders’ big bet that the Federal Reserve is poised to lower interest rates faces a key moment this week as Chair Jerome Powell gets a chance to weigh in on the economy. Powell’s speech on Friday at the central bank’s annual gathering in Jackson Hole, Wyoming, kicks off a make-or-break stretch for the Treasury market, which
Bond market’s rate-cut bets hit decisive stretch with Powell Read More »