Category: U.S
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U.S. Q1 GDP Revised Lower, GDP Prices and Jobless Claims Disappointed
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US economic growth for the first quarter of 2024 was revised down in the second estimate, with annual GDP now at just 1.3% when markets expected it to maintain its initial reading of 1.6%. According to the Bureau of Economic Analysis, the downward revision “It primarily reflects a downward revision…
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U.S. Consumer Confidence Improved for the First Time in Four Months
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The Conference Board reported a stronger than expected consumer confidence reading at 102.0 versus 96.0 for May while the previous month’s reading enjoyed an upgrade from 97.0 to 97.5. Components of the May report revealed that the Current Conditions Index, which is based on consumers’ assessment of current business and…
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U.S. Consumer Confidence Improved for the First Time in Four Months
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The Conference Board reported a stronger than expected consumer confidence reading at 102.0 versus 96.0 for May while the previous month’s reading enjoyed an upgrade from 97.0 to 97.5. Components of the May report revealed that the Current Conditions Index, which is based on consumers’ assessment of current business and…
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U.S. Treasury auctions off $70 billion of five-year notes at a high yield of 4.553%
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High yield 4.553% WI level at option time 4.540% Tail: +1.3 basis points versus six averages. -0.1 pressure point Bid to cover: 2.3X versus a six-month average of 2.41X Traders: 19.52% vs. six-month average of 16.0% Direct: 15.44% vs. six-month average of 17.9% Indirect investments: 65.04% vs. six-month average of…
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Why economist forecasts of a U.S. recession were so wrong
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Breadcrumb links Investor Financial Times Factors that explain why shrinkage does not appear Article writer: Financial Times Edward Yardeni Posted on May 27, 2024 • 3 minutes read You can save this article by registering for free here. Or log in if you have an account. Marriner S. Eccles Federal…
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Dollar holds steady as markets eye U.S. inflation test later in the week By Investing.com
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Investing.com – European and Asian currencies were mostly lower on Monday, while the dollar settled in weak trading, as markets await more signals on US interest rates from key inflation data later in the week. Market holidays in the US and UK kept trading volumes limited. Most regional currencies suffered…
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U.S. Flash PMIs Signal Stronger Industry Growth in May
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The latest round of manufacturing and services PMI readings from the US economy reflected a faster pace of expansion for both sectors. May Flash Manufacturing PMI: 50.9 (50.0 forecast, 50.0 previous) May Flash Services PMI: 54.8 (expect 51.2, previous reading upgraded from 50.9 to 51.3) The S&P Global Manufacturing PMI…
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Joe Biden offers most direct recognition to U.S. students about campus protests over Gaza, telling Morehouse graduates ‘your voices should be heard’
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President Joe Biden on Sunday told a graduating class at Morehouse College that he heard their voices of protest over the war between Israel and Hamas, and that the scenes of conflict in Gaza were heartbreaking. “I support peaceful, peaceful protest,” he told the students, some of whom wore keffiyehs…
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Joe Biden offers most direct recognition to U.S. students about campus protests over Gaza, telling Morehouse graduates ‘your voices should be heard’
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President Joe Biden on Sunday told a graduating class at Morehouse College that he heard their voices of protest over the war between Israel and Hamas, and that the scenes of conflict in Gaza were heartbreaking. “I support peaceful, peaceful protest,” he told the students, some of whom wore keffiyehs…
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U.S. crude oil, natgas post back-to-back gains on supply data, rate cut hopes
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Slavko Sereda/iStock via Getty Images U.S. crude oil futures rose to their highest levels in a week on Thursday, extending gains from the previous session sparked by data showing slowing U.S. inflation and weekly storage data that pointed to a decline in domestic oil inventories. the The smaller-than-expected rise in…
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six decades of U.S. presidential debates By Reuters
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(Reuters) – Democratic President Joe Biden and former Republican President Donald Trump plan to face off in a presidential debate on June 27 and another on September 10 before the November 5 election, part of a tradition marked by some memorable moments. History of modern American politics: – 1960: The…
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U.S. CPI data inadvertently revealed 30 minutes ahead of schedule, BLS says
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Irina Drozd The U.S. Bureau of Labor Statistics mistakenly released consumer inflation data 30 minutes earlier than scheduled on Wednesday, it said earlier this week, an incident that could lead to a broader examination of how the agency distributes important economic data. “Prior to today’s release of the CPI and…
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U.S. CPI Failed to Impress, Annual Inflation Dipped to 3.4% in April
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The headline US CPI came in weaker than expected with a 0.3% month-on-month increase in April versus an estimated 0.4% increase. This brought the annual CPI reading down from 3.5% to 3.4% as expected. Meanwhile, core inflation only reached the mark, showing a 0.3% monthly increase in core price pressures.…
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Oil turns higher as U.S. inflation cools, crude stocks drop more than expected
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Slavko Sereda/iStock via Getty Images Crude oil futures reversed course to close higher on Wednesday, as US government data showed a slight decline in inflation and a larger-than-expected decline in crude oil inventories. The Consumer Price Index rose 0.3% last month after rising 0.4% in March and February, while the…
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New U.S. rules aim to boost renewables, meet surging electricity demand (NYSEARCA:XLU)
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Gargolas/iStock via Getty Images Federal Energy Regulatory Commission Two new rules were approved Monday’s move is expected to make it easier to expand construction of large power lines and bring more renewable energy to American homes and businesses. One rule will require companies that produce and transmit electricity to weigh…
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Week Ahead in FX (May 13 – 17): U.S. Inflation Plus U.K. And Australia’s Jobs Reports
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The US Dollar is in for another busy week as Uncle Sam publishes the latest inflation reports! Meanwhile, labor market updates from the UK and Australia are expected to increase volatility for the British pound and Australian dollar. We’ve got a diary on this week’s most watched data releases! Before…
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Bitcoin stands to gain from U.S. fiscal dominance, Trump victory: StanChart
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Da-kook/E+ via Getty Images There is a growing risk of financial dominance in the US, with rising debt and deficits likely to be on an unsustainable path, and that should be good news for Bitcoin (BTC-USD), according to Jeff Kendrick of Standard Chartered Bank. Donald Trump wins the presidential election…
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Flavor Flav is the official hype man for a U.S. women’s Olympic team
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Maggie Stevens asked for more support for the US women’s water polo team, and the captain received a particularly surprising answer. From the rap icon who wears the watch. Move by Stevens posted on InstagramFlavor Flav stepped forward to help USA team She also won an unprecedented fourth consecutive gold…
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Biden Admin To Kill Republican Bill Letting U.S. Banks Custody Crypto
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Republican-led efforts to free up US banks to offer cryptocurrency custody services have been shut down by the Democratic-led White House. On Wednesday, the House discussed and prepared to vote on House Resolution 109 (HJ Res. 109), which would rescind prior accounting guidance from regulators to banks that plan to…