US weekly jobless claims at 3-month high; equipment spending resilient

Weekly jobless claims increase 17,000 to 240,000 Continuing claims rise 48,000 to 1,551 million Core capital goods orders rebound 0.7% in October Shipments of core capital goods surge 1.3% WASHINGTON, Nov 23 (Reuters) – The number of Americans filing new claims for jobless benefits increased to a three-month high last week amid rising layoffs in … Read more

US grocer Kroger carts away Albertsons for $25 bln but faces antitrust test

Oct 14 (Reuters) – Kroger Co (KR.N) snapped up Albertsons Cos Inc (ACI.N) in a $25 billion deal on Friday, creating a US grocery behemoth to better compete with leader Walmart Inc (WMT.N) on prices while bracing for potential antitrust roadblocks. The mega merger between the No. 1 and 2 standalone grocers in the United … Read more

US labor market failures recession fears as job growth surges in July

Nonfarm payrolls increase 528,000 in July Unemployment rate falls to 3.5% from 3.6% in June Average hourly earnings rise 0.5%; up 5.2% year-on-year Participation rate falls to 62.1% from 62.2% in June WASHINGTON, Aug 5 (Reuters) – US job growth unexpectedly accelerated in July, lifting the level of employment above its pre-pandemic level and pouring … Read more

Wall Street rallies on economic data, crude falls as stockpiles jump

NEW YORK, Aug 3 (Reuters) – US stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday as robust economic data, upbeat corporate guidance and easing geopolitical concerns boosted investor risk appetite. Front-month crude futures dropped following a report that US stockpiles of crude and gasoline unexpectedly surged last week. … Read more

US job openings fall to nine-month low; labor market holds tight

Job openings drop 605,000 to 10.7 million in June Retail, wholesale trade account for decline in vacancies Quits little changed at 4.2 million; layoffs decrease WASHINGTON, Aug 2 (Reuters) – US job openings fell by the most in just over two years in June as demand for workers eased in the retail and wholesale trade … Read more

US manufacturing slows modestly; excess inventories a major concern

Manufacturing index dips to 52.8 in July from 53.0 in June New orders contracting, supplier deliveries improving Price increases for slowing inputs; inventories piling up WASHINGTON, Aug 1 (Reuters) – US manufacturing activity slowed less than expected in July and there were signs that supply constraints are easing, with a measure of prices paid for … Read more

Inflation begins to strain finances of young, low-income Americans

A shopper wearing a face mask is pictured at a Dollar Tree store in Pasadena, California, US, June 11, 2020. REUTERS/Mario Anzuoni Register now for FREE unlimited access to Reuters.com register NEW YORK, Aug 1 (Reuters) – High inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting to … Read more

Wall St Week Ahead: After steep decline, US small caps tempt investors with cheap valuations

The floor of the New York Stock Exchange (NYSE) is seen after the close of trading in New York, US, March 18, 2020. REUTERS/Lucas Jackson Register now for FREE unlimited access to Reuters.com register NEW YORK, July 29 (Reuters) – Shares of smaller US companies are outpacing a rally in the broader equity market as … Read more

Exxon, Chevron post blowout earnings, oil majors bet on buybacks

High prices, margins lift majors to best quarters in history Exxon earnings surpass previous record set in 2012 July 29 (Reuters) – The two largest US oil companies, Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for … Read more