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U.S. Homebuilder Confidence Unexpectedly Continues To Improve In May
Homebuilder confidence in the U.S. has unexpectedly improved in the month of May, the National Association of Home Builders revealed in a report released on Tuesday. The report said the NAHB/Wells Fargo Housing Market Index jumped to 50 in May from 45 in April. Economists had expected the index to come in unchanged compared to the previous month.
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U.S. Business Inventories Unexpectedly Edge Slightly Lower In March
A report released by the Commerce Department on Tuesday unexpectedly showed a modest decrease in U.S. business inventories in the month of March. The Commerce Department said business inventories edged down by 0.1 percent in March following a revised unchanged reading in February.
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U.S. Industrial Production Unexpectedly Increases As Manufacturing Output Rebounds
Partly reflecting a notable rebound in manufacturing output, the Federal Reserve released a report on Tuesday showing an unexpected increase in U.S. industrial production in the month of April. The Fed said industrial production climbed by 0.5 percent in April, while revised data showed production was unchanged in each of the two previous months.
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U.S. Retail Sales Growth Falls Short Of Estimates In April
Retail sales in the U.S. rebounded by less than expected in the month of April, according to a report released by the Commerce Department on Tuesday. The Commerce Department said retail sales rose by 0.4 percent in April after falling by a revised 0.7 percent in March.
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Abbott Says FDA Approves Spinal Cord Stimulation Devices To Treat Chronic Back Pain
Abbott Laboratories (ABT) announced Tuesday that the U.S. Food and Drug Administration (FDA) has approved its spinal cord stimulation (SCS) devices for the treatment of chronic back pain in people who have not had or are not eligible to receive back surgery, known as non-surgical back pain.
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Eurozone Employment Rises Most Since 2021 Despite Modest GDP Growth
The euro area employment increased the most since 2021 in the first quarter despite the economy undergoing a mild growth amid the aggressive monetary policy tightening, while the currency bloc posted its first trade surplus since September 2021 but due to a marked decrease in imports. The quarterly growth in employment doubled to 0.6 percent in the first quarter.
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German Economic Sentiment Turns Negative In May
Germany's investor confidence turned negative in May for the first time in five months amid concerns over further interest rate hikes by the European Central Bank and the uncertainty on the global markets over worries of a US debt default, survey results from ZEW showed on Tuesday.
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U.S. Retail Sales Rebound Less Than Expected In April
Retail sales in the U.S. rebounded by less than expected in the month of April, according to a report released by the Commerce Department on Tuesday.
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UK Jobless Rate Climbs, Payroll Employment Declines
The UK unemployment rate rose slightly and payroll employment declined for the first time in more than two years as the economic slowdown started to bite the labor market. The jobless rate rose to 3.9 percent in the three months to March from 3.8 percent in the preceding month, data published by the Office for National Statistics showed on Tuesday.
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Blue Apron Inks Long-term Operations And Logistics Relationship With FreshRealm
Blue Apron Holdings, Inc. (APRN) announced Tuesday plans for a long-term operations and logistics relationship with FreshRealm, a leading provider of fresh meals to top retailers nationwide. The companies have signed a non-binding letter of intent for up to $50 million payable to Blue Apron for the transfer of its operational infrastructure, as well as when transition, efficiency and product milestones are met.
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Bay Street Likely To Open Slightly Weak
Canadian shares look headed for a slightly weak start on Tuesday, tracking lower bullion prices and subdued crude futures.
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Wells Fargo Reaches $1 Bln Settlement To Resolve Federal Securities Class Action Lawsuit
Law firm Bernstein Litowitz Berger & Grossmann (BLB&G) announced Tuesday that it has reached a settlement agreement on behalf of its clients and a class of investors with Wells Fargo & Co (WFC), which has agreed to pay $1 billion in cash to resolve a federal securities class action lawsuit in the United States.
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Australia Consumer Confidence Plummets On Rate Hike, Budget
Australia's consumer confidence weakened notably in May to the lowest level since the pandemic outbreak in 2020 as consumers expressed deep pessimism after a surprise rate hike from the Reserve Bank and a mildly disappointing budget, survey results from Westpac showed on Tuesday. The Westpac Melbourne Institute Index of Consumer Sentiment fell 7.9 percent to 79.0 in May from 78.5 in April.
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