WASHINGTON (AP) — Builders started work on more homes in January, pushing construction up by the largest amount in 20 months. But the home-building industry remains far below the pace considered healthy. Builders broke ground on new homes and apartments at a seasonally adjusted annual rate of 596,000 units, a 14.6 percent jump from December.… read more
Tag Archives: economic news
March British pound boosted by CPI and BOE comments.
March British pound traded sharply higher overnight after it was reported that inflation in January doubled Bank of England’s target. UK CPI jumped to 4.0% yoy in January, doubling Bank of England’s target of 2%. Bank of England’s Governor King noted the surge in inflation and reiterated that it’s temporary, due to tax hike and… read more
Trading news – U.S. Retail Sales Rise Less Than Expected in January.
WASHINGTON, Feb 15 (Reuters) – Sales at U.S. retailers increased less than expected in January amid weak receipts at building material and restaurant outlets, a government report showed on Tuesday, likely reflecting the drag from snow storms that slammed large parts of the country during the month. Total retail sales rose 0.3 percent, the Commerce… read more
Grains Opening Calls and News / Futures Broker
WHEAT – Up 8 to 10 cents per bushel. Active export sales of U.S. wheat and news Egypt made its first purchase of wheat in nearly a month combine to boost wheat futures with further support from concern about harm to the U.S. crop from a cold snap this week. CORN – Up 3 to… read more
Trading News – Employment number less than expected.
NEW YORK, Feb 4 (Reuters) – U.S. employment rose far less than expected in January, partly the result of severe snow storms that slammed large parts of the nation, but the unemployment rate fell to its lowest level since April 2009. KEY POINTS: * Nonfarm payrolls grew just 36,000, the Labor Department said on… read more
Trading News – US Jobless Claims Tumble 42,000 last week.
WASHINGTON, Feb 3 (Reuters) – New U.S. claims for unemployment benefits dropped more than expected last week, a government report showed on Thursday, pointing to continued gradual improvement in the labor market. Initial claims for state unemployment benefits tumbled 42,000 to a seasonally adjusted 415,000, the Labor Department said, unwinding most of the previous week’s… read more
Futures News – Factory sector expands at the fastest pace in 7 years!
WASHINGTON (AP) — The factory sector expanded in January at the fastest pace in seven years, as manufacturers reported a sharp jump in new orders. The Institute for Supply Management, a private trade group, says its index of manufacturing activity rose last month to 60.8. The sector has expanded for 18 straight months of expansion,… read more
Grain Opening Calls / Futures Broker
WHEAT – Up 10 to 12 cents per bushel. Brisk export sales, no signs of shipment interruptions to Egypt, a weak dollar, a technical rebound from Friday’s late slide and prospects for end-of-month fund buying lift wheat futures. CORN – Up 5 to 6 cents per bushel. Spillover support from a strong rebound in wheat,… read more
Futures news – U.S. Consumer spending rises 0.7 % in December
WASHINGTON, Jan 31 (Reuters) – U.S. consumer spending rose more than expected in December to post the sixth straight month of gains as households drew down on their savings to fund purchases, government data showed on Monday. The Commerce Department said spending increased 0.7 percent after rising by 0.3 percent in November. Economists polled… read more
Futures News -Economy Grows at 3.2% Pace, Pushed Up by Sales Spike
By Reuters The U.S. economy gathered speed in the fourth quarter, though a touch below expectations, with the biggest gain in consumer spending in more than four years and strong exports offering the clearest signals yet that a sustainable recovery is under way. Even with growth quickening, however, progress reducing unemployment has been painfully slow,… read more