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U.S. Weekly Jobless Claims Inch Up To 227,000
(RTTNews) - 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.
Meanwhile, the report said the less volatile four-week moving average edged down to 228,250, a decrease of 5,500 from the previous week's unrevised average of 233,750.
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Saying Goodbye To The Penny To Cost U.S. Consumers $6 Mln In 'Rounding Tax'
Phasing out the penny is set to involve some cost to U.S. consumers paying in cash as businesses are set to round transactions to the nearest nickel, new research from the Federal Reserve Bank of Richmond revealed on Wednesday.
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U.S. House Purchase Mortgage Applications Highest In Over 2 Years: MBA
Home loan applications in the U.S. rose to their highest level since early 2023 in the week ended July 04, while mortgage rates eased only modestly, survey data from the Mortgage Bankers Association showed on Wednesday. The number of mortgage applications grew 9.4 percent from the previous week when it they rose 2.7 percent, the MBA said.
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The Federal Reserve on Wednesday released the minutes of its June monetary policy meeting, which revealed most participants generally agree the central bank is well positioned to wait for more clarity on the outlook for inflation and the economy before adjusting interest rates.
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U.S. Wholesale Inventories Dip In Line With Estimates In May
A report released by the Commerce Department on Wednesday showed a modest decrease by wholesale inventories in the U.S. in the month of May. The Commerce Department said wholesale inventories fell by 0.3 percent in May after inching up by 0.1 percent in April. The pullback by inventories matched economist expectations as well as the flash estimate.
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American Households' Inflation Expectations Steady; More Optimism On Finances: NY Fed Survey
U.S. households' inflation expectations were largely unchanged in June and they were more optimistic regarding their financial situation and access to credit in the year-ahead, results of a survey by the Federal Reserve Bank of New York showed on Tuesday.
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U.S. Small Business Confidence Erodes Slightly In June, Taxes Main Concern - NFIB
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U.S. Factory Orders Spike In Line With Estimates In May
New orders for U.S. manufactured goods saw a substantial rebound in the month of May, according to a report released by the Commerce Department on Thursday. The Commerce Department factory orders spiked by 8.2 percent in May after plunging by a revised 3.9 percent in April. The sharp increase matched economist estimates.
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U.S. Service Sector Returns To Growth In June
After reporting a slight contraction in U.S. service sector activity in the previous month, the Institute for Supply Management released a report on Thursday showing the service sector returned to growth in the month of June. The ISM said its services PMI rose to 50.8 in June from 49.9 in May, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.5.
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