Philly Fed Survey shows slowing in the Manufacturing Sector – Economic news, trading news, Futures Trading

This weeks Philly Fed Survey shows some slowing in the manufacturing sector. The general business conditions according to the survey declined to 3.9%.  Although the month on month shows growth the numbers are still well below April’s 18.5 which indicates slowing.  New orders and shipments both slowed while unfilled orders and inventories turned negative.  There was… read more

Existing Home sales down 0.8% – Economic News, Trading news, Futures Brokers

April existing home sales were down 0.8% this month below the expected 5.05 million annual rate.  This caused the year on year rate to move down to 12.9%.  However, the median home price has moved up 2.4% to $163,700 with an average price of $214,000 for a 3.5% gain.… read more

Breaking News: Jobless Claims Fall by 29,000 claims – Economic News, Economic Reports, Trading news, Futures Trading

Jobless Claims for the week of May 14 fell by 29,ooo claims to 409,000 claims.    Also the prior weeks report was revised down from 438,000 to 434,000.  The expectation for this was an 11,000 claim drop; therefore expectations came in much better than anticipated.  Since 2009 we have seen the job market gain some… read more

MBA Purchase Applications – Housing Market, Housing News, Economic News,Trading news

Low interest gates gave a big boost of 13.2% to mortgage refinances; this makes for a 33% rise over the last 5 weeks. However, new mortgage applications were down 3.2% and there is still not as much buying demand to signal any kind of bottom at this point.  The composite index came in at 7.8%… read more

Industrial Production : Economic News, Economic Reports, Economic Calendar, Trading News

Production came in at 0.0%  Consensus was looking for 0.4%  Prior  was 0.8% Capacity Utilization Rate-Level came in at 76.9% Consensus was looking for 77.6%  Prior was 77.4%… read more