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European Stocks Close Lower As Growth Worries Weigh; BoE Raises Interest Rate
European stocks closed lower on Thursday, extending recent losses, with investors continuing to assess earnings updates and reacting to the interest rate hike by the Bank of England.
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832 days ago
U.S. Labor Productivity Rebounds 3.7% In Q2, Much More Than Expected
Labor productivity in the U.S. rebounded by much more than expected in the second quarter of 2023, according to a report released by the Labor Department on Thursday. The report said labor productivity spiked by 3.7 percent in the second quarter after slumping by a revised 1.2 percent in the first quarter.
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833 days ago
Pound Drops After BOE Rate Hike
The pound declined against its major counterparts in the European session on Thursday, after the Bank of England lifted its key rate by a quarter point, as expected.
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833 days ago
U.S. Factory Orders Surge Slightly More Than Expected In June
A report released by the Commerce Department on Thursday showed a significant increase in new orders for U.S. manufactured goods in the month of June. The Commerce Department said factory orders spiked by 2.3 percent in June after climbing by an upwardly revised 0.4 percent in May.
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833 days ago
U.S. Services Index Indicates Modestly Slower Growth In July
The Institute for Supply Management released a report on Thursday showing a modest slowdown in the pace of growth in U.S. service sector activity in the month of July. The ISM said its services PMI slipped to 52.7 in July from 53.9 in June, although a reading above 50 still indicates growth. Economists had expected the index to edge down to 53.0.
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833 days ago
Bank Of England Lifts Rate By 25 Bps
The Bank of England raised its benchmark interest rate by a quarter point on Thursday, after a half percentage point hike last time, citing persistence of high inflation. In a three-way split, the nine-member Monetary Policy Committee decided to lift the bank rate to 5.25 percent, the highest since early 2008. This was the fourteenth consecutive rate hike.
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833 days ago
U.S. Weekly Jobless Claims Inch Up In Line With Estimates
A report released by the Labor Department on Thursday showed a modest increase in first-time claims for U.S. unemployment benefits in the week ended July 29th. The Labor Department said initial jobless claims crept up to 227,000, an increase of 6,000 from the previous week's unrevised level of 221,000. The uptick in jobless claims matched economist estimates.
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833 days ago
more news
Eurozone Private Sector Shrinks Most In 8 Months
Euro area private sector contracted the most in eight months in July due to the deepening downturn in manufacturing and a near-stalling of services output. The final HCOB composite output index fell to an eight-month low of 48.6 in July from 49.9 in June, S&P survey results showed Thursday. The flash score was 48.9.
RTTNews
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833 days ago
U.S. Labor Productivity Rebounds More Than Expected In Q2
Labor productivity in the U.S. rebounded by much more than expected in the second quarter of 2023, according to a report released by the Labor Department on Thursday.
RTTNews
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833 days ago
U.S. Weekly Jobless Claims Inch Up To 227,000
A report released by the Labor Department on Thursday showed a modest increase in first-time claims for U.S. unemployment benefits in the week ended July 29th.
RTTNews
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833 days ago
Bay Street Seen Opening On Weak Note
Canadian shares are likely to open weak Thursday morning, tracking lower commodity prices and weakness in global markets amid lingering concerns about global economic slowdown.
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833 days ago
Pound Falls After BoE Decision
As expected, the Bank of England raised its key rate by 25 basis points to 5.25 percent from 5 percent. Following the decision, the pound fell against its major counterparts.
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833 days ago
Euro Weakens On Growth Concerns
The euro fell against its most major counterparts in the European session on Thursday amid risk aversion, as Eurozone's Services PMI was finalized at a six-month low of 50.9 in July.
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833 days ago
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