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Michigan Consumer Sentiment Index Falls More Than Expected in Preliminary May Survey

The University of Michigan's preliminary consumer sentiment index fell to 48.2 in May from 49.8 in April, lower than the expectations for a smaller decrease to 49.5 in a survey compiled by Bloomberg.The current conditions index decreased to 47.8 in May from 52.5 in April, while the expectations reading rose to 48.5 from 48.1.Michigan said cost pressures, led by soaring gasoline prices continue to be a major concern for consumers."Middle East developments are unlikely to meaningfully boost sentiment until supply disruptions have been fully resolved and energy prices fall," Michigan noted.Respondents saw one-year inflation expectations at 4.5%, down from 4.7% in April, while five-year inflation expectations fell to 3.4% from 3.5%.The twice-monthly Michigan Sentiment index measures consumer sentiment early in the current month (the preliminary estimate) and is then revised later in the month (the final estimate). The headline index is a combination of the current assessment and expectations for the near future.An increase in the reading suggests consumers are more confident, a positive for stocks if that confidence translates into spending. Increased demand is usually inflationary, a negative for bonds.

International137d ago

March Wholesale Inventories Revised Lower From Advance Estimate; Sales Jump

Wholesale inventories rose by 1.3% in March, revised lower from a 1.4% increase in the advance reading and following a 0.9% gain in February.Analysts in a survey compiled by Bloomberg expected March inventories to be unrevised.Durable wholesale inventories increased by 0.2%, while nondurables inventories rose by 3.2%.Wholesale sales increased by 2.8% in March after a 2.6% gain in February, led by a 1.6% increase in automotive sales. Analysts expected a 1.8% gain in wholesale sales.When combined with already released data at the retail and factory levels, business inventories are tracking for a 0.9% gain, while business sales are tracking up 2.1%. The report on business inventories and sales will be released on May 14.

International137d ago

March US Wholesale Sales Rise 2.8% vs 1.8% Gain Expected, Prior 2.6% Increase

International137d ago

March US Wholesale Inventories Rise 1.3% Vs Unrevised 1.4% Gain Expected, Prior 0.9% Gain

International137d ago

May Preliminary University of Michigan Consumer Sentiment 48.2 Vs. Expected 49.5, Prior 49.8

International137d ago

Chinese Investments in Brazil Reach $6.1 Billion in 2025, Research Says

China invested $6.1 billion across 52 projects, making Latin America's top economy China's number one investment destination in 2025, the China-Brazil Business Council said in its annual report Thursday.The value is 45% higher compared with the year-ago period, while the number of investments is 33% higher year over year, the council said.Brazil comprised about 11% of China's overseas investments, the CEBC said.

Shanghai Composite^SZSE

International137d ago

April US Nonfarm Payrolls Rise More Than Expected, Unemployment Rate Steady

The April employment report showed nonfarm payrolls rose by 115,000, above the 65,000 jobs increase expected in a survey compiled by Bloomberg, while March payrolls were revised up to a 185,000 increase and February payrolls were revised down to a 156,000 decrease.Private payrolls rose by 123,000 in April after a 190,000 increase in March, well above the increase of 75,000 private jobs expected. Health care and social assistance jobs added 53,900 to the payrolls total.The unemployment rate remained at 4.3% in April, as expected, while the labor force participation rate fell to 61.8% from 61.9% in March and the size of the labor force declined.Hourly earnings rose by 0.2%, slower than the 0.3% gain expected, and following a 0.2% increase in March. Hourly earnings were up 3.6% year-over-year.The average workweek rose to 34.3 hours from 34.2 hours in March, above the 34.2 hours expected.The monthly employment report released by the Bureau of Labor Statistics consists of two separate surveys and is considered the most important data release for the month. The survey of businesses measures the levels of employment and wages and the length of the average workweek, broken down by industry.The survey of households measures the number of people working or looking for work, the unemployment rate, those who have left the workforce and reasons for part-time work.Market reaction can be mixed, particularly when the two surveys disagree. A strong increase in employment or a decline in the unemployment rate is generally a positive for stocks as a sign of a strong US economy, but bonds would react negatively to the same news, particularly if wages rise sharply at the same time.

International137d ago

April US Hourly Earnings Rise 0.2% Vs. Expected 0.3% Gain, Prior 0.2% Gain

International137d ago

April US Unemployment Rate 4.3% Vs. Expected 4.3%, Prior 4.3%

International137d ago

April US Nonfarm Payrolls Rise 115,000 Vs. Expected 65,000 Gain, Prior Revised 185,000 Gain

International138d ago

US Dollar Rises Early Friday Ahead of April Employment Data

The US dollar rose against its major trading partners early Friday ahead of the release of the April employment report at 8:30 am ET.Nonfarm payrolls are expected to rise by 65,000 after a 178,000-job gain in March, while the unemployment rate is forecast to remain at 4.3%, and hourly earnings are expected to rise by 0.3% after a 0.2% gain.The University of Michigan's preliminary consumer sentiment reading for May is due at 10:00 am ET, at the same time as wholesale inventory data for March.The Atlanta and St. Louis Federal Reserve banks are due to update their GDP nowcast estimates around midday, and there will be a panel discussion featuring Fed Vice Chair for Supervision Michelle Bowman, Fed Governor Christopher Waller, San Francisco Fed President Mary Daly, and Chicago Fed President Austan Goolsbee at 7:30 pm ET.A quick summary of foreign exchange activity heading into Friday:EUR/USD rose to 1.1765 from 1.1735 at the Thursday US close, but was below a level of 1.1767 at the same time Thursday morning. There are no Eurozone data on Friday's schedule. European Central Bank Isabel Schnabel is due to speak at 12:00 pm ET. The next European Central Bank meeting is scheduled for June 11.GBP/USD rose to 1.3607 from 1.3565 at the Thursday US close, but was below a level of 1.3611 at the same time Thursday morning. UK home prices fell in April, slowing the year-over-year rate, according to data released earlier Friday. Bank of England Governor Andrew Bailey is due to speak at 8:20 am ET. The next Bank of England meeting is scheduled for June 18.USD/JPY fell to 156.7697 from 156.8673 at the Thursday US close, but was above a level of 156.3785 at the same time Thursday morning. Japan's services PMI declined in April, while wage growth slowed in March, according to data released overnight. The next Bank of Japan meeting is scheduled for June 15-16.USD/CAD fell to 1.3646 from 1.3651 at the Thursday US close, but was above a level of 1.3627 at the same time Thursday morning. Canadian employment data for April are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for June 10.

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International138d ago

Persian Gulf Outlook Limits European Bourses Midday

European bourses tracked moderately lower midday Friday as traders weighed ongoing tensions in the Persian Gulf against generally steady crude prices and interest rates.Tech and property stocks led modest gains on continental trading floors, while bank shares lagged.Investors also eyed Wall Street futures flashing green amid lower closes overnight on Asian exchanges.In economic news, German industrial production declined 0.7% month over month in March, and fell 2.8% year over year, Destatis reported.The pan-continental Stoxx Europe 600 Index was off 0.5% mid-session.The Stoxx Europe 600 Technology Index was up 0.2%, while the Stoxx 600 Banks Index lost 0.3%.The Stoxx Europe 600 Oil and Gas Index declined 0.1%, while the Stoxx 600 Europe Food and Beverage Index was 0.3% lower.The REITE, a European REIT index, gained 0.1%.On the national market indexes, Germany's DAX was down 0.7%, and the FTSE 100 in London lost 0.2%. The CAC 40 in Paris was down 0.7%, and Spain's IBEX 35 eased 0.3%.Yields on benchmark 10-year German bonds were marginally higher, near 3.01%.Front-month North Sea Brent crude-oil futures were up 0.6% at $100.64 a barrel.The Euro Stoxx 50 volatility index was up 0.4% at 22.15, indicating 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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International138d ago

Higher Oil Prices, Persian Gulf Outlook Lower Asian Stock Markets

Asian stock markets trailed lower Friday on rising crude prices, after media reports that the US and Iran exchanged fire in the Strait of Hormuz.Brent crude futures traded at $100.55 a barrel, up 0.5%, during Asian market hours.Hong Kong and Tokyo equity indices finished in the red, while Shanghai was steady. Other regional exchanges were mixed on the downside.In Japan, the Nikkei 225 opened lower and could not recover, finishing off 0.2% as traders booked profits in a market trading near an all-time high, and weighed Middle East war reports and crude prices.The benchmark Nikkei 225 fell 120.19 to 62,713.65, as losing issues outnumbered gainers 128 to 99.Leading the upside was silicon-wafer maker Sumco, up 18%, while Yokogawa Electric declined 9.8%.In economic news, the Japan services purchasing managers index (PMI) declined to 51.0 in April, down from 53.4 in March, but still struck above the 50-mark that separates growth from contraction, reported S&P Global.The nation's composite PMI, a combination of the manufacturing and services sectors, slipped to 52.2 in April from 53.0 in March.In Hong Kong, the Hang Seng Index opened lower and drifted, closing down 0.9%.The broad gauge Hang Seng fell 232.57 to 26,393.71, as losing issues outnumbered gainers 58 to 31. The Hang Seng TECH Index lost 0.4% on the day, although the Mainland Properties Index rose 2.5%.Leading the upside was online social-media platform Kuaishou Technology, gaining 9.4%, while Semiconductor Manufacturing International declined 4.4%.On the mainland, the Shanghai Composite closed flat at 4,179.95.On the other regional exchanges, the S. Korean KOSPI rose 0.1%; the Taiwan TWSE declined 0.8%; the Australian ASX 200 declined 1.5%; the Singapore Straits Times Index fell 0.4%, and the Thai Set declined 0.5%. In late trading in Mumbai, the Sensex was down 0.7%.The MSCI All Country Asia Pacific Index fell 0.8% on the day.

Hang SengNikkei 225Shanghai Composite

International138d ago

Indonesia's Property Prices Rise Softly in Q1

Indonesia's residential property prices in the primary market posted slower growth in the first quarter, with the Residential Property Price Index rising 0.62% annually, slower than the 0.83% growth in the previous quarter, according to Bank Indonesia's Residential Property Price Survey released Friday.Residential property sales in the primary market fell 25.7% year on year during the quarter, reversing from 7.83% growth recorded in the fourth quarter of 2025.Sales growth was mainly seen in mid-range housing units, while demand for small and large homes remained weak, according to the central bank.The survey showed developers mainly used internal funds for financing, accounting for 80.66% of total funding needs, while mortgages made up 69.87% of home purchases, Bank Indonesia said.

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International138d ago

Taiwan's Exports, Imports Rise in April

Taiwan's exports rose 39% year on year in April to the second-highest monthly level on record at $67.62 billion, while imports increased 29.2% annually to $53.27 billion, according to preliminary data released by the Ministry of Finance on Friday.Monthly, the exports fell 15.7% from March, while imports declined 9.6%, the data showed.For January to April, cumulative exports totaled $263.4 billion, up 47.8% from the same period last year, while cumulative imports jumped 33.2% annually to $196.1 billion, figures showed.

Taiwan Weighted

International138d ago

Indonesia's Foreign Exchange Reserves Drop in April

Indonesia's official reserve assets position at the end of April stood at $146.2 billion, down from $148.2 billion at the end of the previous month, Bank Indonesia said on Friday.The decline reflected tax and service revenues, as well as proceeds from global government bond issuance amid external debt repayments, and the central bank's rupiah stabilization measures in response to heightened global financial market uncertainty.The reserve position was equivalent to financing 5.8 months of imports, or 5.6 months of imports and government external debt servicing, remaining well above the international adequacy standard of around three months of imports, the central bank said.

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International138d ago

Swiss Consumer Confidence Improves in April

Switzerland's consumer sentiment index rose to -40 points in April from -42.9 points earlier, according to data from the State Secretariat for Economic Affairs published Friday.Analysts expected -46 points for the month.In the previous year, the index stood at -42.4 points.

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International138d ago

Spanish Annual Industrial Output Jumps 1.8% in March

Spain's industrial production, adjusted for seasonal and calendar effects, grew 1.8% year over year in March, following the revised 0.9% decrease previously, provisional data from the National Statistics Institute showed Friday.On a monthly basis, Spanish industrial output rose 2.3%, against a 0.1% decline previously.

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International138d ago

Halifax: UK Monthly Average House Prices Down 0.1% in April

Britain's average house prices ticked down 0.1% month over month in April, after a 0.5% decline in March, according to data from Halifax published Friday.Analysts expected zero growth for the month, according to Investing.com data.On a yearly basis, average house prices in the UK were 0.4% higher, compared with a 0.8% gain in the previous month and an expected 0.6% uptick.

FTSE 100

International138d ago

Germany's Monthly Industrial Output Down 0.7% in March

Germany's industrial production fell 0.7% month over month in March, following a revised 0.5% decline earlier, provisional data from the Federal Statistical Office showed Friday.Analysts expected a 0.4% increase for the month, according to Investing.com data.On a yearly basis, German industrial output was 2.8% lower, against the revised 0.2% decrease earlier.

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International138d ago

US Dollar Rises Early Friday Ahead of April Employment Data

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