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April Philadelphia Fed Manufacturing Index Rises More Than Expected

The Philadelphia Federal Reserve's monthly manufacturing index rose further to 26.7 in April after increasing to 18.1 in March, compared with expectations for a decline to a reading of 10 in a survey compiled by Bloomberg.There were increases in the readings for new orders, shipments and prices received.The prices paid measure increased to 59.3 from 44.7, with more than 61% of respondents still experiencing higher prices compared with only about 2% that reported paying lower prices.

International113d ago

US Initial Jobless Claims Fall More Than Expected in Week Ended April 11

US initial jobless claims fell to a level of 207,000 in the week ended April 11 from a downwardly revised 218,000 level in the previous week, compared with expectations for a smaller decrease to 213,000 in survey of analysts compiled by Bloomberg as of 7:35 am ET.The four-week moving average rose by 500 to 209,750 after increasing by 1,250 to a level of 209,250 in the previous week.Insured jobless claims rose by 31,000 to 1,818,000 in the week ended April 4, but the four-week moving average fell by 8,250 to 1,813,250, the lowest level since the week ended June 1, 2024.The weekly initial jobless claims data released by the US Labor Department measures filings for unemployment insurance benefits. Initial filings are reported through the previous Saturday, while those already on benefits are measured with a one-week lag.A decrease in claims suggests a stronger labor market, a positive for the US economy and stocks, but a negative for bonds as it suggests wage growth that could lead to inflation.

International113d ago

April New York Fed Services Index Indicates Slower Contraction

The New York Federal Reserve's services index rose to minus 14.0 in April from minus 22.6 in March, compared with a smaller expected increase to a reading of minus 20.0 in a survey compiled by Bloomberg as of 7:35 am ET.The index is the first services sector reading for April and suggests a slower pace of contraction.The business climate reading decreased in the month, but the readings for employment, wages and prices paid all increased.

International113d ago

April Philadelphia Fed Regional Manufacturing Index 26.7 Vs. 10.0 Expected, 18.1 Prior

International113d ago

April New York Fed Regional Services Index -14.0 Vs. -20.0 Expected Vs. -22.6 Prior

International113d ago

US Initial Jobless Claims 207,000 Vs. Expected 213,000, Prior 218,000

International113d ago

Persian Gulf Ceasefire Outlook, Corporate Earnings Elevate European Bourses Midday

European bourses tracked moderately higher midday Thursday as traders monitored prospects for a ceasefire extension between Tehran and Washington in the Persian Gulf conflict, and digested the ongoing earnings season.Tech and property stocks led gains on continental trading floors, while food shares lagged.Investors also eyed muted Wall Street futures amid higher closes overnight on Asian exchanges.In economic news, Europe has "maybe 6 weeks or so" of jet fuel left if supplies through the Strait of Hormuz remain blocked, International Energy Agency Executive Director Fatih Birol told the Associated Press.The pan-continental Stoxx Europe 600 Index was up 0.3% mid-session.The Stoxx Europe 600 Technology Index was up 1.5%, and the Stoxx 600 Banks Index was steady.The Stoxx Europe 600 Oil and Gas Index eased 0.2%, while the Stoxx 600 Europe Food and Beverage Index declined 0.3%.The REITE, a European REIT index, rose 1.2%.On the national market indexes, Germany's DAX was up 0.6%, and the FTSE 100 in London gained 0.6%. The CAC 40 in Paris was up 0.5%, and Spain's IBEX 35 advanced 0.2%.Yields on benchmark 10-year German bonds were lower, near 3.01%.Front-month North Sea Brent crude-oil futures were up 1% at $95.84 a barrel.The Euro Stoxx 50 volatility index was down 1.2% at 20.65, but still indicating modestly above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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International113d ago

US Dollar Rises Early Thursday Ahead of Jobless Claims, New York Fed Services, Philadelphia Fed Manufacturing

The US dollar rose against its major trading partners early Thursday, except for a decline versus the yen, ahead of the release of weekly jobless claims data, the New York Federal Reserve's services index for April, and the Philadelphia Fed's manufacturing reading for April, all at 8:30 am ET.New York Fed President John Williams is due to speak at 8:35 am ET, followed by industrial production data for March at 9:15 am ET, weekly natural gas data at 10:30 am ET, and an appearance by Fed Governor Stephen Miran at 10:35 am ET.A quick summary of foreign exchange activity heading into Thursday:EUR/USD fell to 1.1787 from 1.1801 at the Wednesday US close, but was above a level of 1.1779 at the same time Wednesday morning. Eurozone consumer prices rose more than expected in March, lifting the year-over-year rate, data released earlier Thursday showed. European Central Bank policy board member Isabel Schnabel is scheduled to speak at 9:00 am ET, followed by policy board member Philip Lane at 2:30 pm ET. The next European Central Bank meeting is scheduled for April 30.GBP/USD fell to 1.3551 from 1.3572 at the Wednesday US close and 1.3552 at the same time Wednesday morning. UK GDP rose at a faster pace in February than in the previous month, according to data released earlier Thursday. Bank of England Deputy Governor Sam Woods is due to speak at 11:40 am ET. The next Bank of England meeting is scheduled for April 30.USD/JPY fell to 158.9251 from 158.9763 at the Wednesday US close and 158.9762 at the same time Wednesday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for April 27-28.USD/CAD rose to 1.3732 from 1.3730 at the Wednesday US close, but was below a level of 1.3782 at the same time Wednesday morning. Canadian new motor vehicle sales data for February are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for April 29.

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International113d ago

Corporate Earnings, Geopolitics Undergird Wall Street Pre-Bell; Asia, Europe Up

Wall Street futures were edging higher pre-bell Thursday after media reports that Tehran and Washington are considering a two-week extension of their Persian Gulf ceasefire, otherwise set to expire on Tuesday.Tech issues strengthened after Taiwan Semiconductor Manufacturing (TSM) posted higher Q1 earnings and net revenue.In the futures, the S&P 500, the Nasdaq and the Dow Jones were all marginally higher pre-bell.Asian exchanges traded mostly higher overnight, while European bourses tracked moderately north midday on the continent.In earnings news, Bank of New York Mellon (BK) shares were up 0.6% pre-bell after the company reported higher Q1 adjusted earnings and revenue.PepsiCo (PEP) stock was up 0.7% pre-bell after the company posted higher fiscal Q1 core earnings and revenue.On the economic calendar is the weekly jobless claims report, and the April Philadelphia Fed Manufacturing Index, at 8:30 am ET.The industrial production report for March is due at 9:15 am, and the weekly EIA natural gas report 10:30 am.Federal Reserve New York President John Williams and Governor Stephen Miran are slated to speak on Thursday.In premarket activity, Bitcoin traded at $74,460, West Texas Intermediate crude oil traded at $92.38, and 10-year US Treasuries offered 4.27%. Spot gold commanded $4,809 an ounce.

Dow JonesNasdaq CompositeS&P 500

International113d ago

Correction: UK's Monthly GDP Rises 0.5% in February

(Corrects reference to the analyst expectations in the second paragraph)The UK's gross domestic product expanded 0.5% month over month in February, following a revised 0.1% growth in January, the Office for National Statistics said Thursday.The reading compares with analysts' expectations of a 0.1% increase for the month.On a yearly basis, the British economy grew 1%, against the prior revised 0.7% increase and the market forecast of a 0.6% jump.

FTSE 100

International113d ago

Persian Gulf, China Economic Outlooks Lift Asian Stock Markets

Asian stock markets marched unevenly higher Thursday, as traders reviewed major economic reports from Beijing, and prospects for peace in the Middle East.Hong Kong, Shanghai, Seoul, Taiwan and Tokyo exchanges finished in the green, although other regional exchanges edged lower.In Japan, the Nikkei 225 opened higher and rose to the close, up 2.4% as traders weighed media reports of possibly renewed Tehran-Washington peace talks.The benchmark Nikkei 225 gained 1,384.10 to 59,518.34, as gaining issues outnumbered losers 158 to 64.Leading the upside was gadget maker TDK, up 13.1%, while heavy-equipment manufacturer Komatsu declined 5.4%.In Hong Kong, the Hang Seng Index opened higher and tracked north, closing up 1.7%, after Beijing released a slate of generally good economic reports. Tech issues led the upside.The broad gauge Hang Seng rose 446.94 to 26,394.26 as gaining issues outnumbered losers 61 to 26. The Hang Seng TECH Index gained 3.7% on the day, while the Mainland Properties Index rose 1.2%.Leading the upside was Contemporary Amperex Technology, gaining 9%, while noodle maker Tingyi declined 3.5%.On the mainland, the Shanghai Composite rose 0.7% to 4,055.55.In economic news, mainland China's Q1 gross domestic product (GDP) expanded by 5% on year, meeting Beijing's target, reported the National Bureau of Statistics (NBS).Additionally, China's industrial output rose 5.7% on year in March, while retail sales lifted a tempered 1.7% in the same period.China's new home prices across 70 cities fell 3.4% on-year in March 2026, widening from a 3.2% decline in the previous month, reported the NBS.On the other regional exchanges, the S. Korean KOSPI rose 2.2%; the Taiwan TWSE added 1.1%; the Australian ASX 200 lost 0.3%; the Singapore Straits Times Index slipped 0.3%, and the Thai Set fell 1.1%. In late trading in Mumbai, the Sensex was down 0.2%.The MSCI All Country Asia Pacific Index rose 1.2% on the day.

Hang SengNikkei 225Shanghai Composite

International113d ago

Eurozone's Annual Inflation Rate Climbs to 2.6% in March, Final Data Shows

Annual inflation in the euro area climbed to 2.6% in March from 1.9% in February, according to final data from Eurostat published Thursday.The final reading is higher than the flash estimate of 2.5%.On a monthly basis, consumer prices were 1.3% higher, compared with the preliminary reading of 1.2%.Excluding energy, food, alcohol and tobacco, the annual inflation rate came in at 2.3%, in line with the initial reading but below the previous month's 2.4%. Month over month, core consumer prices were 0.8% higher, matching the preliminary estimate.

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International113d ago

Hong Kong Exports, Imports Grow in February

Hong Kong's total exports grew 19.5% year over year in February while imports increased 23.9% year over year, according to data from the city's census and statistics department released Thursday.Exports during the first two months of the year rose by 25% while imports were 29.1% higher when compared to a year earlier.Prices of exports during February jumped 4.2% while that of imports inched up 4.3%. For the first two months of the year, prices of exports increased by 3.6% while import prices gained 3.7%.

Hang Seng

International113d ago

Italian Annual Inflation Rate Confirmed at 1.7% in March, Final Data Shows

As expected, Italy's annual inflation rate rose to 1.7% in March from 1.5% in February, final data from statistics agency Istat showed Thursday.On a monthly basis, consumer prices were up 0.5%, in line with the flash figure, against the prior 0.7% gain.The Italian harmonized inflation rate stood at 1.6% on an annual basis, compared with the preliminary and previous 1.5%. Month over month, harmonized consumer prices were 1.7% higher, against the initial estimate of a 1.6% increase and the 0.5% rise earlier.

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International113d ago

China's Audiovisual Users Hit 1.1 Billion in 2025

China's online audiovisual sector now leads all internet apps with 1.10 billion users as of December 2025, according to the China Netcasting Services Association.Market size hit 1.29 trillion yuan, up 5.3% year over year. Enterprises exceeded 800,000 enterprises, with 87.8% being micro-firms.Short videos continued to see growth in users and usage rate, with 44.6% of new users using them as their main entry point. Daily viewing averages 201 minutes.Artificial intelligence-generated clips surged 14-fold to 2 billion.

Shanghai Composite^SZSE

International114d ago

China's Trade-In Programs Generate 502.94 Billion Yuan in Sales

China's consumer goods trade-in programs generated 502.94 billion yuan in sales as of April 12, with nearly 69.8 million purchases benefiting, according to the Ministry of Commerce.Auto trade-ins have reached 1.7 million units, fueling 269.44 billion yuan in new vehicle sales.Over 27 million home appliances were traded in, driving 111.09 billion yuan in sales. Digital and smart products added another 122.41 billion yuan from 41.08 million units.In 2025, the consumer goods trade-in programs generated 2.61 trillion yuan in sales across 366 million purchases.

Shanghai Composite^SZSE

International114d ago

China's Railway Passenger Trips, Freight Volume Rise in Q1

China's railways logged over 1.13 billion passenger trips in the first quarter, up 5.5% from the previous year, according to the National Railway Administration.Freight volumes rose 2.2% year on year to 1.28 billion tonnes. Freight turnover climbed 5.1% to 907.2 billion tonne-kilometers.Railway fixed-asset investment climbed 5.1% to 137.9 billion yuan.

Shanghai Composite^SZSE

International114d ago

Swiss Monthly Producer, Import Prices Up 0.2% in March

Switzerland's monthly producer and import price index ticked up 0.2% in March, after a 0.3% decline in February, data from the country's Federal Statistical Office showed Tuesday.Analysts expected 0.5% growth for the month, according to Investing.com data.On a yearly basis, Swiss producer and import prices were 2.7% lower, unchanged from the prior month.

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International114d ago

UK Monthly Services Output Gains 0.5% in February

Britain's services output edged up 0.5% month over month in February, following a revised 0.1% uptick in January, according to data from the Office for National Statistics published Thursday.On a yearly basis, the index was 1.4% higher, against the revised 1% jump earlier.

FTSE 100

International114d ago

British Monthly Construction Output Rises 1% in February

Construction output in the UK increased 1% month over month in February, following a revised 0.5% gain in the previous month, the Office for National Statistics said Thursday.Analysts expected a 0.4% decline for the month, according to Investing.com data.On a yearly basis, construction output was 1% lower, against the revised 1.9% drop earlier and the market forecast from Investing.com of 0.4% decrease.

FTSE 100

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International113d ago

US Dollar Rises Early Thursday Ahead of Jobless Claims, New York Fed Services, Philadelphia Fed Manufacturing

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