Producer prices in the U.S. crept higher in the month of July, according to a report released by the Labor Department on Tuesday. The Labor Department said its producer price index for final demand inched up by 0.1 percent in July after rising by 0.2 percent in June. The uptick by producer prices matched economist...
Small business sentiment in the U.S. strengthened to a two-and-a-half-year high in July though inflation remained the top concern for businesses, the monthly survey results from the National Federation of Independent Business (NFIB) showed Tuesday. The NFIB Small Business Optimism Index rose for the fourth month in a row in July, up 2.2 points to...
European stocks shrugged off a mid-session setback and closed higher on Tuesday, as investors reacted to some positive economic data from the U.S. and Europe, and looked ahead to crucial inflation readings from the U.S. and U.K., due later in the week. The pan European Stoxx 600 climbed 0.52%. The U.K.s FTSE 100 gained 0.3%,...
The U.S. dollar weakened against its major counterparts in the New York session on Tuesday, as producer prices rose less than expected in July, strengthening expectations that the Federal Reserve is likely to cut interest rates by 50 basis points in September. Data from the Labor Department showed that the producer price index for final...
The U.S. dollar shed ground against its major counterparts on Tuesday after data showing a smaller than expected increase in the nations producer prices in the month of July raised expectations that the Federal Reserve will cut interest rates by 50 basis points in September. The Labor Departments data said the producer price index for...
German stocks were seeing modest gains in cautious trades on Wednesday ahead of key Eurozone and U.S. economic data due later in the day. The benchmark DAX was up 74 points, or 0.4 percent, at 17,886 after gaining half a percent the previous day. Rheinmetall AG, an automotive and arms manufacturer, rose 1.6 percent after...
French stocks traded higher on Wednesday ahead of euro area flash GDP data and industrial production figures due later in the day. Eurostat is expected to confirm 0.3 percent sequential growth for the second quarter. In June, industrial production is expected to rebound 0.5 percent on month after a 0.6 percent drop posted in May....
U.K. stocks advanced on Wednesday and the British pound weakened against other major currencies after data showed that the U.K. inflation turned softer than anticipated in July. Data from the Office for National Statistics showed that the U.K. consumer price index moved up 2.2 percent in July from a year ago, following Junes 2.0 percent...
European stocks traded higher on Wednesday as investors digested key Eurozone data and looked forward to the release of U.S. CPI data later in the day for additional clues on the interest-rate outlook. The pan European STOXX 600 was up 0.4 percent at 503.62, trading near a two-week high after Eurostat reported that the euro...
The euro area economy posted a steady growth as initially estimated in the second quarter, flash estimate published by Eurostat showed on Wednesday. Gross domestic product climbed 0.3 percent in the three months to June, which was similar to the first quarter growth and matched the estimate published on July 30. Year-on-year, economic growth improved...