Homebuilder confidence in the U.S. has unexpectedly continued to deteriorate in the month of August, according to a report released by the National Association of Home Builders on Thursday. The report said the NAHB/Wells Fargo Housing Market Index fell to 39 in August from a downwardly revised 41 in July. The dip surprised economists, who...
The Commerce Department released a report on Thursday showing business inventories in the U.S. increased in line with economist estimates in the month of June. The report said business inventories rose by 0.3 percent in June after climbing by 0.5 percent in May. The growth matched expectations. The increase by business inventories largely reflected notable...
The U.S. dollar was higher against its major counterparts in the New York session on Thursday, as strong retail sales and soft jobless claims data alleviated concerns about a recession and raised the likelihood of a 25 basis point rate cut by the Federal Reserve in September. Data from the Commerce Department showed that retail...
A report released by the Federal Reserve Bank of Philadelphia on Thursday said regional manufacturing softened overall in the month of August. The Philly Fed said its diffusion index for current general activity plunged to a negative 7.0 in August from a positive 13.9 in July, with a negative reading indicating contraction. Economists had expected...
European stocks closed higher on Thursday with investors continuing to react positively to inflation readings from the U.S. and U.K. Investors also digested U.S. GDP data and weekly jobless claims and industrial production data from the U.S. The pan European Stoxx 600 climbed 1.15%. The U.K.s FTSE 100 gained 0.8%, while Germanys DAX and Frances...
Gross domestic product data from the UK is the major economic report due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics is scheduled to publish UK GDP data for the second quarter and industrial output and foreign trade figures for June. The economy...
European stocks may open on a positive note Thursday as traders ramped up forecasts on how much the Federal Reserve will cut interest rates this year. Amid signs of moderating U.S. inflation, investors eye reports on U.S. weekly jobless claims, retail sales and industrial production later in the day for more insights about the health...
The UK economy expanded again in the second quarter but the pace of growth moderated slightly due to the contractions in industrial and construction output, data from the Office for National Statistics showed on Thursday. Real gross domestic product grew 0.6 percent in the three months to June, following the 0.7 percent expansion seen in...
Asian stocks followed Wall Street higher on Thursday, the dollar sagged, and Treasury yields dipped as more signs of cooling inflation in the U.S. fueled bets of a Federal Reserve rate cut in September. Also, a mixed set of economic activity data from China boosted hopes for more stimulus. Gold edged up in Asian trading...
Damai Sejahtera Abadi Tbk (UFOE) has reportedly opened its latest UFO Elektronika store in Malang, East Java. This is the 26th outlet established by UFOE. According to Poedji Harixon, President Director of UFOE, mentioned that this outlet expansion is in line with the company’s attempt to improve its performance in 2024. “We still see a...